As you review your filing requirements for 2018, make sure you don't overlook the nanny tax related to household employees. If you have a housekeeper or any other household employee, you could be liable to pay state and federal payroll
Read moreOur nation has been has been plagued by multiple hurricanes and wildfires. The link below is from the Internal Revenue Service website and may be helpful to those that have been directly affected. https://www.irs.gov/businesses/small-businesses-self-employed/disaster-assistance-and-emergency-relief-for-individuals-and-businesses-1
Read moreSection 179 expensing can be a very powerful tax-planning tool for small and medium-sized businesses acquiring capital assets. While it doesn't change the amount of depreciation you can take over the life of capital purchase, it can change the timing
Read moreIs socking away large sums in a tax-deferred retirement account ever a bad it? It is when you exceed the annual IRS limits. Intentional or not, the penalties can be painful. Here's how overfunding occurs and what steps to take
Read moreSo what is fair market value (FMV)? According to the IRS, it's the price that property would sell for on the open market. This is the price that would be agreed upon between a willing buyer and a willing seller.
Read moreIt can be difficult to watch your child leave for college. Now you also have to say goodbye to the tuition and fees tax deduction. Congress decided not to extended this $4,000 deduction for 2017, leaving many parents worried that
Read moreThe word "audit" makes most of us uncomfortable. But by using auditing principles within your own business, you may quickly discover ways you can enhance your firm's full-year performance. Here are some factors to consider. Prepare with a pre-audit. Perhaps
Read moreWhen it comes to paying bills, many people cannot imagine returning to paying and sending bills via the U.S. Postal Service. But, the "turn it on and forget it" nature of automatic payments can create zombie payers who no longer
Read moreMost new businesses start with no thought about legal structure. In the eyes of the IRS, the default structure is a "sole proprietor," in which your business profits are taxed on your personal tax return. This can serve you well
Read moreChanging jobs and companies can be an exciting opportunity, but you have a choice to make. What will you do with the retirement savings you have accrued in your 401(k) plan? Consider these four choices: Withdraw the money and don't
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