5 Tax Planning Tips for Your Small Business
We’re more than half way through 2014: Where does your business stand in terms of taxes?
View ArticleThe Losers of the Mortgage Interest Deduction
The mortgage interest deduction is a major incentive to home ownership -- but it's also inherently unfair.
View ArticleMortgage Interest Rate Deduction: Do We Really Need It?
The argument over the success of the home mortgage interest deduction isn't as black and white as it might seem.
View ArticleThe Tax Differences Between a C Corporation and an S Corporation
Entity selection is a big decision new small business owners must make, and the decision to incorporate comes with tax ramifications.
View ArticleWhat to Know about ObamaCare's Premium Tax Credit
All Americans are now required to have health insurance or be subject to a penalty that will be paid on next year’s income tax return. But there's a tax credit available to many to help reduce coverage...
View Article10 Tax Tips for New Business Owners
Keeping your money for working capital rather than paying it out in taxes to Uncle Sam will give you an edge in the current economic climate.
View ArticleInvestments and Tax Planning: They Go Hand-in-Hand
When it comes to investments, tax planning should play a major role. Here's how.
View ArticleReasonable Compensation and Your S Corporation
When you incorporate your business, you create a new separate entity, and in the eyes of the IRS, you become an employee of the corporation. And this move means you must go on payroll and have all...
View ArticleWriting Off Your Job Hunting Expenses
If you itemize deductions on Schedule A of your tax return, you will be able to deduct a lot of related search expenses if certain conditions apply.
View ArticleThe IRS Has a Tax Cheat Sheet for Small Business Owners
Taxes are a big deal—especially for small business owners. The IRS can end up taking more than 50% of your Schedule C profit in ordinary income taxes and self-employment taxes. After all, the highest...
View ArticleTax Implications of Student Loan Forgiveness
There is a silver lining to student loan repayments: The interest paid can be written off.
View Article7 Unusual Business Write-Offs
Business owners should strive to take advantage of every possible deduction in order to minimize their tax liability.
View ArticleTax Implications of Filing for Bankruptcy
If you find yourself weighing filing for bankruptcy, you should know how the tax code applies to the situation.
View ArticleCan You Write That Off?!
One of the most common questions I hear from self-employed individuals begins with the phrase, “Can I write off…?” I’m often surprised by what follows the question.
View ArticleHey, the IRS Uses Social Media
Tax law changes often and quickly and can affect many unsuspecting taxpayers, luckily, the IRS is all over social media.
View Article7 Reasons Your Small Business Should Use Accounting Software
During tax season, many business owners provide me their tax data in various ways: boxes of receipts, clumps of expenses stapled together with adding machine tape totaling each type of expense, or a...
View ArticleWriting Off College-Related Expenses
As the fall semester kicks off at colleges across the country, students and parents should be doing their homework on what educational expenses can be deducted.
View ArticleForeign Bank Accounts and the IRS
Many Americans have been under the misconception that income earned on foreign soil is not taxable here at home, especially if taxes are paid in the foreign country. And that's simply not true.
View ArticleHow to Select a Tax Professional for Your Small Business
If you own a business, it is critical to find a tax preparer who understands that tax implications of owning a small business as well as your particular needs in order to establish a beneficial...
View ArticleChanges Within the IRS
Last week Internal Revenue Service commissioner John Koskinen reported to a congressional subcommittee about certain upcoming changes within the Internal Revenue Service. Much of the discussion...
View Article
