Owning your own small business is a dream that few are fortunate enough to realize, but even those new to the joys of entrepreneurial self-determination need to spend time thinking about how you’re going to eventually leave the business. No…
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Article Highlights
Slow Refunds
COVID-19
Economic Impact Payments
Recovery Rebates
Unemployment Debacle
Using 2019 Income to Compute 2020 EITC and Additional Child Tax Credit
Other Issues
Where’s My Refund Tool
…
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Article Highlights:
If You Don’t Rent Your Property
If You Rent Your Property
Rented Fewer Than 15 Days
Personal Use Is Less Than the Greater of 15 Days or 10% of the Rental Days
Personal Use Exceeds the Greater of 14 Days…
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Article Highlights:
Filing Status
Claiming the Children as Dependents
Child Exemption
Head-of-Household Filing Status
Tuition Tax Credit
Child Care Tax Credit
Child Tax Credit
Earned Income Tax Credit
Alimony
If…
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Article Highlights:
Tax Recordkeeping Tips
Receipts
Auto Deductions
Gifts
Business Equipment
Ordinary and Necessary
Meals & Lodging
Entertainment
Home Office
With the ever-increasing complexity of our tax…
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Tax Planning to Help New Franchisees
investment can be a wonderful opportunity, but it also involves a completely unfamiliar set of rules when it comes to your taxes. Whether you are considering becoming a franchisee or are already involved,…
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June 1 - Final Due Date for IRA Trustees to Issue Form 5498
Final due date for IRA trustees to issue Form 5498, providing IRA owners with the fair market value (FMV) of their IRA accounts as of December 31, 2020. The FMV of an IRA on the last…
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7 Different Types of Income Streams for Your Business
No matter what type of business you operate, you rely on having a predictable flow of income to keep your bills paid. If you only have a single source of income and it suddenly falters,…
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They say that everybody has at least one good novel in them, and many people feel the same way about ideas for a successful business. If you are considering diving into the world of entrepreneurship, it’s a good idea to pause for a moment,…
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Article Highlights:
Tax Return Mistakes are Common
Fixing Tax Return Mistakes
Amended Return
Superseding Return
Don’t Procrastinate in Responding to IRS
Generally speaking, tax return mistakes are a lot more common than…
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Exit Strategy: How to Create One for Your Small Business
Small Business, Startup, UncategorizedHaven’t Received Your Tax Refund Yet?
Tax Refund, TaxesTax Issues Related to Renting Your Vacation Home
Rental Property, TaxesTaxes and Divorce
Divorce, TaxesRecordkeeping Tips to Keep the IRS Away
Finance Tips, Tax Tips, TaxesTax Planning to Help New Franchisees
Business Development, Entrepeneurship, Small BusinessJune 2021 Individual Due Dates
Business, Tax Planning7 Different Types of Income Streams for Your Business
Business, Business Development, Small BusinessHow to Evaluate Your Business Idea Before Diving In
Business, Business Development, Entrepeneurship, Small Business, StartupMade a Mistake on Your Tax Return - What Happens Now?
Tax Refund, Tax Tips, Taxes