Those who have a large taxable gain from the sale of a stock, asset, or business and who would like to defer that gain with the possibility of excluding some of it from taxation should investigate a new investment called a qualified opportunity…
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Article Highlights:
One Rollover per Year Rule
Exceptions
Tax Consequences
Disqualified Rollover
Early Withdrawal Penalty
Tax law permits you to take a distribution from your IRA account, and as long as you return the…
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How to Enter Bills in QuickBooks
It’s not as much fun as creating invoices, but the bills must be paid. Here’s how QuickBooks helps.
We’re in a bit of a transitional period with business bill-paying. Some paper bills still come via…
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The most recent data from the IRS on individual tax returns indicates that of 131 million returns filed, about 5 million were expected to be amended. This comes to less than 4 percent, but that projection still affects a significant number…
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Very few people think that starting a new business is easy. But at the same time, there are few first-time entrepreneurs who realize just how involved things are from the moment you start trying to bring that idea that previously only existed…
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Article Highlights:
Business Use of Home
Prorated Use
Owned Home
Rented Home
Exclusive Use
Meal Allowance
Other Deductions
A taxpayer who is in the business of providing family day care in their home may deduct…
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Article Highlights:
Shared Responsibility Payment
Executive Order
Hardship Exemption
Exemption Certification Number
The Affordable Care Act (Obamacare) included a “shared responsibility payment,” which in reality is…
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If So, Your 20% Flow-Through Tax Deduction May Be Limited
Article Highlights:
20% Flow-Through Deduction
Qualified Trade or Business
Specified Service Trade or Business
Deduction Table
Listing of Service Businesses
As…
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Article Highlights:
Business Owners
Family and Home
Records
Disaster Scams
Self-help Publications
Government Assistance
This year’s wildfires, record rains, flooding, tornadoes, hurricanes and potential for earthquakes…
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Article Highlights:
Increased Standard Deduction
Tax-Exempt Income
Impairment-Related Work Expenses
Financially Disabled
Earned Income Tax Credit
Child or Dependent Care Credit
Special Medical Deductions
Qualified…
Tax Reform Enables Deferral of Taxable Gains Into Investments in Opportunity Zones
2018 Tax Laws, Growth, Investment, Tax ReformMaking Two IRA Rollovers in One Year Can Be Costly
Accounting, Investment, Personal FinanceHow to Enter Bills in QuickBooks
Small Business5 Reasons to Amend a Previously Filed Tax Return
2018 Tax Laws, Tax News, Tax Tips, TaxesThe Key Steps to Take BEFORE You Start a New Business
Business, Business Development, Small BusinessDay Care Providers Enjoy Special Tax Benefits
Small Business, Tax TipsHardship Exemption Rules for Not Having Health Insurance Eased
2018 Tax Laws, Tax TipsDo You Own a Specified Service Trade or Business?
UncategorizedAre You Prepared for a Disaster?
Business, Education, NewsDisabled Taxpayer Tax Benefits
Tax Tips, Taxes