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?
How to Deduct Your Car Purchase in 2014
Section 179 deductions are the tax magic that let you fully deduct capital assets in the year your purchase them.
How to Buy Computers, Furniture, and Other Equipment for Business in 2014
Section 179 has a number of rules that must be followed to take advantage of it.
Why To Track Mileage
If you use your car for your business your CPA has probably told you to track your mileage. The reason is that there is two ways to calculate the auto-related costs for your car- actual expenses and standard mileage rate- and both rely on knowing the number of business miles you drove for the year.
How to Deduct Your Vacation
It is almost summer, and many people will be thinking about traveling. If you plan it right, you might even be able to deduct a good part of your trip.
Tax Breaks for Vacation Homes
Vacation homes have advantages in the tax code, because you can often treat them either as a home or a real estate investment, both of which have advantages.