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.
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 is a new, virtual currency created in 2009. Transactions are made without banks, without fees, and without giving your real name.
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.
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.
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."
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.
If you are divorced or separated your legal documents might have you either pay alimony to or receive alimony from your ex-spouse.
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.
Every year each individual is allowed to give an unlimited number of tax-free gifts.
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!
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.
What is the best way to keep the Feds hands out of your Swiss bank account?
Section 179 deductions are the tax magic that let you fully deduct capital assets in the year your purchase them.
Section 179 has a number of rules that must be followed to take advantage of it.
