The middle of November is not a very popular time to talk about tax refunds; unless, of course, you closely follow politics and are anticipating substantial change through tax reform. Nevertheless, it is still important to think about your tax return during this time...
Income Taxes
Critical employee classification questions for businesses
As businesses hire temporary employees (or agencies) to complete end-of-year work, it is critically important for such workers to be properly classified. Classification mistakes can lead to host of taxes and penalties.Knowing the difference between employees and...
Year end tax planning tips
While many of our readers are preparing for office Halloween parties, it may be easy to lose sight of the fact that the end of the year will be coming soon. Indeed, 2018 may still be two months away, but with all the celebrations and time off that comes with the...
How to hold on to profits after selling your home
One of the largest purchases a person will make in life is their home. It also follows that the largest sale a person may make is the sale of their home after it is paid off (or it increases in value). However, some people facing the prospect of a windfall from a real...
Are more people failing to report income from part-time jobs?
In today’s economy, part time jobs (affectionately called side hustles) are just as common as Twitter followers for pop stars. Whether it is to save up for a trip of a lifetime or to pay off credit card debt, more Americans, particularly millenials, are...
How much in taxes will you owe from your next flip?
If you’re a fan of HGTV’s “Flip or Flop” series, you probably have considered flipping houses as an investment strategy or business. After all, the shows make it seem like renovating houses is a quick and lucrative process to make a great deal...
Can tax savings come from private placement insurance?
Tax savings comes in many forms. While many individuals and businesses focus sound financial practices, others may flock to insurance to limit what is owed to Uncle Sam. According to a recent Bloomberg.com report, the use of insurance dedicated funds is becoming a...
Top tax tips for newlyweds
To most people, June is the beginning of wedding season, especially for those who became engaged during the holidays. Indeed, it is natural for soon-to-be married couples to stress out about the details of their special day, but after the wedding, reality and real...
Current expenses vs. capital expenses
While many small businesses are preparing to take some time off for the holiday weekend it is only a matter of time before the focus turns to tax planning for next year’s tax season. Indeed, some businesses pay their taxes quarterly throughout the year. However,...