How to Fully Deduct Business Gifts
Many business owners might not be aware of this, but gifts that your business gives out to vendors, customers, or other business associates are only tax deductible up to $25 [...]
Why Not to Pull Money Out of Retirement Accounts Early
Hopefully, you have been doing the responsible thing and putting away a nice little nest egg in retirement plans such as pensions, profit-sharing plans, and individual retirement accounts (IRAs).
When Outsourced Payroll Goes Bad
Usually, when you work with a payroll company, the last thing you expect is for them to not send your tax payments to the IRS. Unfortunately, in a recent court case, when a payroll company declared bankruptcy, that is exactly what happened.
Back To School-Tax Savings For Teachers
It’s back to school time! As everyone is busy getting ready to head to class, I want to remind the teachers out there that they have a special educator expense deduction.
Bitcoin-It Isn’t Cash
Bitcoin is a new, virtual currency created in 2009. Transactions are made without banks, without fees, and without giving your real name.
Cloud-Based Accounting
If you are looking at cloud-based accounting systems, which is what I recommend, there are a few options out there. Here are my top three.
Contractors vs. Employees
When companies are hiring there is often a question of whether they are bringing on contractors or employees. Sometimes it is easy to figure out, like when you use an outsourcing company or a subcontractor. Other times it can be more difficult to determine, such as hiring a remote employee or a sales representative.
Is Your Business Just a Hobby?
What's the difference between a hobby and a business? According to the IRS, it is whether or not you are trying to make a profit. If you are not trying to make a profit and just want to write off the cost of your hobby, then you are subject to the "hobby loss rules."
When You Need To File a 1099 For a Vendor Or Contractor
I regularly get questions about whether or not to file 1099s. They are often surprised that more vendors and contractors need 1099s than they think. The list goes well beyond a freelancer you hire or a subcontractor you use.
Alimony and Taxes
If you are divorced or separated your legal documents might have you either pay alimony to or receive alimony from your ex-spouse.
Summer Financial Tune-up 2014
For a select few, I will work with you to see where you are so far this year, and help you create a budget road map to get you on track for where you want to be by December 31.
Tax-Free Gifts in 2014
Every year each individual is allowed to give an unlimited number of tax-free gifts.
Estate, Trust & Gift Tax for 2014
I recently made a presentation to financial industry professionals regarding tax issues for Estate & Trusts gifts. Here is a movie of the slideshow presentation. Have questions? Feel free to contact me!
Copies of Tax Returns and Other Tax Information from the IRS
Can’t find your copy of an old tax return? Not sure that you received all your 1099s or other tax forms this year? You can get the information from the IRS by requesting transcripts or copies of tax returns.
Keep the Feds Out of Your Swiss Bank Account
What is the best way to keep the Feds hands out of your Swiss bank account?