Monthly Archives: September 2019

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Employee Stock Options Can Be Taxing

Article Highlights: Employee Stock OptionsStock Option Terminology Incentive Stock OptionsNon-qualified Stock OptionsTax Strategies If you are an employee of a corporation, as an incentive to continue employment, the company may offer you the option to purchase shares of the corporation at a fixed price at some future date so that you can benefit from your [...]

By |2019-09-27T21:27:21+00:00September 28th, 2019|Categories: Uncategorized|0 Comments

How Business Owners Should Conceptualize Their Financial Results

Entrepreneurs don't necessarily need to be numbers people in order to succeed: You need drive, passion, the ability and will to follow things through, and the hustler's spirit that enables you to constantly try that new thing or relentlessly chase that next big opportunity. But whether you're a serial entrepreneur or simply looking to grow [...]

By |2019-09-25T15:42:43+00:00September 27th, 2019|Categories: Uncategorized|0 Comments

Who Claims the Children You or Your Ex-Spouse?

Article Highlights: Custodial ParentDependency ReleaseJoint CustodyTiebreaker RulesChild’s ExemptionHead of Household Filing StatusTuition CreditChild Care CreditChild Tax CreditEarned Income Tax Credit If you are a divorced or separated parent with children, a commonly encountered but often misunderstood issue is who claims the child or children for tax purposes. This is sometimes a hotly disputed issue between [...]

By |2019-09-24T22:56:14+00:00September 25th, 2019|Categories: Uncategorized|0 Comments

Disaster-Related Tax Losses May Be Less Than Expected

Article Highlights: Limitation to Losses within Disaster AreasCost versus Market ValueHome Tax LossesHome Tax GainsReplacement PropertiesHome Gain Exclusion The late-2017 tax-reform package changed the rules for personal casualty losses, which now are only deductible if they occur in a federally declared disaster area. As a result, if a home is destroyed in a forest fire [...]

By |2019-09-23T15:55:34+00:00September 23rd, 2019|Categories: Uncategorized|0 Comments

Tax Issues That Arise When Converting a Home into a Rental

Article Highlights: Reason for ConversionBasisDepreciationCash Flow versus Tax Profit or Loss Passive LossesHome Gain Exclusion There are many reasons to convert a home into a rental, such as to ensure that a prior home produces income and appreciation after the owner buys a new home; to maximize the tax benefits for an elderly person who [...]

By |2019-09-20T23:29:10+00:00September 20th, 2019|Categories: Uncategorized|0 Comments

Life Changing Events Can Impact Your Taxes

Article Highlights: MarriageBuying a HomeHaving or Adopting ChildrenGetting DivorcedDeath of Spouse Throughout your life there will be certain significant occasions that will impact not only your day-to-day living but also your taxes. Here are a few of those events: Getting Married – If you just got married or are considering getting married, you need to [...]

By |2019-09-18T15:49:25+00:00September 19th, 2019|Categories: Uncategorized|0 Comments

October Extended Due Date Just Around the Corner

Article Highlights: October 15 is the extended due date for filing federal individual tax returns for 2018.Late-filing penalty Interest on tax due. Other October 15 deadlines. If you could not complete your 2018 tax return by the normal April filing due date and are now on extension, that extension expires on October 15, 2019. Failure to [...]

By |2019-09-18T15:18:37+00:00September 18th, 2019|Categories: Uncategorized|0 Comments

What Are the Tax Advantages of Homeownership?

Article Highlights: Purchase CostsPointsMortgage PaymentsProperty TaxesInflationGain ExclusionRenting Versus Owning Housing is a big expense for everyone. The choice generally involves either renting or purchasing – and financing that purchase with a home loan. This article explores the tax benefits and drawbacks that individuals should consider when deciding whether to buy a home. Purchase Costs – [...]

By |2019-09-06T20:29:19+00:00September 6th, 2019|Categories: Uncategorized|0 Comments