We previously discussed the factors small business owners should consider when choosing a retirement plan. If you haven’t already read that article, you may want to start there. If you’re looking to learn more about the 401(k), then you’ve come…
We previously discussed the factors small business owners should consider when choosing a retirement plan. If you haven’t already read that article, you may want to start there. If you’re looking to learn more about the Simplified Employee Pension (SEP…
A large part of tax planning for small businesses is assisting them in choosing the right retirement plan. There are a number of options – each with pros and cons. When choosing a plan, there are a number of options…
I’m sure you’ve heard by now that congress has authorized the largest stimulus package in US history. Included in that package is “direct economic impact payments” to individuals. This is what people are calling “stimulus checks”. Since this has been…
The kiddie tax is the not-so-affectionate name given to the high rate of tax on “unearned” income of children. Kiddie Tax Basics When your children are subject to the kiddie tax, it forces them to pay taxes at a higher…
The SECURE Act made many changes to how you save money for your retirement, how you use your money in retirement, and how you can better use your Section 529 plans. Here are the eight changes you need to know.
Imagine this: you didn’t issue Form 1099s to your contractors. Now, the IRS is auditing your tax return, and the auditor claims you lose your deductions because you didn’t issue the Form 1099s. Is this correct? No. IRS auditors often…
With the tax year ending on December 31, there is still time to make some financial moves that can decrease your tax obligation for this fiscal year.
The stunning rise in the value of Bitcoin, along with the myriad of cryptocurrencies, is surely one of the biggest financial stories of the 21st century, at least so far. What started out as a mere curiosity and niche project…
When you owe money to the IRS, it is hard to think about anything else. While being in debt is never fun, no matter who the creditor is, the IRS enjoys almost unlimited power to collect the money they are…
