The death of a loved one is a stressful event. Here’s a guide of what to do from a financial and tax standpoint during this difficult time.
The IRS is reporting that it will be comparing filed 1099-Ks against income reported on business tax returns
Before you invest in a franchise, do your research. If you’ve thought about buying a franchise, here are a few tips to consider:
Can you continue to fund your retirement account after you reach the age of 70 ½ (6 calendar months after you reach your 70th birthday)?
Only the informed taxpayer can take advantage of tax-cutting opportunities. Here are suggestions you should consider for cutting your taxes.
Virtual currencies like Bitcoin are classified as property. The IRS is aware of the growing popularity of this medium of exchange
Some popular tax preparation software is relatively inexpensive, but what does using software to prepare your taxes really cost you? Missed deductions and tax credits, improper or overlooked tax elections, unnecessary penalties, and neglected long-term tax planning can be very expensive. Are you familiar with the rules and qualified to tackle your taxes by yourself? […]
When you start a business, you have many decisions to make. One of those is the method of accounting your business will use for reporting income and expenses on your tax return. It is an extremely important decision. With few exceptions, the method you choose can only be changed in the future with the IRS’s […]
While most interest expense is no longer tax deductible, it is a viable deduction if the interest is on your primary or secondary residence. While limits apply, the use of a secondary loan on your primary or secondary residence can also qualify for interest deductibility. However, “home equity” loan interest can often lose its tax […]
While each retirement plan has similar early withdrawal penalty exemptions, they are not all alike. Knowing these subtle differences within 401(k) plans can help you avoid a 10 percent tax penalty if you take money out of the plan prior to reaching age 59 1/2. This is true because a basic rollover of funds into […]