/Jake Lincoln

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So far Jake Lincoln has created 122 blog entries.

Year-End Investment Moves

Article Highlights: • Zero Capital Gains Rate • Offset Gains With Losses • Wash Sales If you invest in publicly traded securities, here are a couple of tax-saving possibilities you shouldn’t forget to consider before year-end. Zero Capital Gains Rate - If you are having a low-income year, there may be a way for you [...]

By |2017-02-03T17:27:46+00:00December 23rd, 2016|Categories: Uncategorized|0 Comments

Habits That Threaten Your Identity and Pocketbook

Habits That Threaten Your Identity and Pocketbook Article Highlights • What's In Your Wallet Or Purse • Your Fear Of The IRS • Using Public Internet Connections • Not Screening Your E-Mails • E-Mailing And Texting Sensitive Information • Being Free and Easy With Passwords • Using Identical Passwords They're just old habits. You likely [...]

By |2016-11-23T22:45:39+00:00November 14th, 2016|Categories: Uncategorized|0 Comments

Avoid These 4 Common Small Business Accounting Mistakes

Avoid These 4 Common Small Business Accounting Mistakes Article Highlights: • Reporting employees as independent contractors • Not reconciling bank accounts regularly • Forgetting to record payments against open invoices • Not understanding the differences between cash flow and profit When you decided to open for business, you had a vision for the future. You [...]

By |2016-11-23T22:45:39+00:00November 4th, 2016|Categories: Uncategorized|0 Comments

Time For Baby Boomers to Pay Up

Time for Baby Boomers to Pay Up Article Highlights: • Required Minimum Distribution (RMD) • Distribution Period • Penalty for Not Taking an RMD • Multiple Accounts • Non-Taxable Amounts • Roth Conversions • Effect on Other Income & Deductions Once RMDs Start • Additional Withholding or Estimated Tax • Charitable Option All you baby [...]

By |2016-11-23T22:45:39+00:00October 31st, 2016|Categories: Uncategorized|0 Comments

Are You Thinking of Converting Your Home to a Rental?

Thinking of Converting Your Home to a Rental? Better Read this First Article Highlights: • Home Gain Exclusion • Converting Homes that Have Declined in Value • Converted Basis • Passive Loss Limitations If you are considering converting your home to a rental, there are a number of tax issues you need to consider before [...]

By |2016-11-23T22:45:40+00:00October 24th, 2016|Categories: Uncategorized|0 Comments

Who Claims the Kids

Who Claims the Kids? You or Your Ex-Spouse? Article Highlights: • Custodial Parent • Dependency (Exemption) Release • Joint Custody • Tiebreaker Rules • Child's Exemption • Head of Household Filing Status • Tuition Credit • Child Care Credit • Child Tax Credit • Affordable Care Act • Earned Income Tax Credit If you are [...]

By |2016-11-23T22:45:40+00:00October 20th, 2016|Categories: Uncategorized|0 Comments

Don’t Be Left Holding the Tax Bag

Don’t Be Left Holding the Tax Bag Article Highlights: • Paying Independent Contractors • 1099-MISC Reporting Threshold • Form W-9 Benefits • Penalties • Due Date If you use independent contractors in your business and pay them $600 or more during the calendar year, you are required to issue them a 1099-MISC after the close [...]

By |2016-10-15T00:42:39+00:00October 15th, 2016|Categories: Uncategorized|0 Comments

Seniors Beware The Affordable Care May Be Cutting Your Medical Deductions

Seniors Beware, Affordable Care Act Will Be Cutting Your Medical Deductions  Article Highlights:  Seniors and Medical Deductions  AGI Limitations in 2017  Taking Advantage in 2016 When an individual itemizes deductions, one of those deductions is the cost of medical and dental expenses, including health insurance premiums. However, the medical expense deduction has been historically limited [...]

By |2016-10-08T00:07:49+00:00October 8th, 2016|Categories: Uncategorized|0 Comments

July 2016 Individual Due Dates

July 1 - Time for a Mid-Year Tax Check Up Time to review your 2016 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties. July 11 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips [...]

By |2016-11-23T22:45:40+00:00July 12th, 2016|Categories: Uncategorized|0 Comments

Surviving Spouse Estate Tax Exclusion

The estate tax is a tax on the transfer of property after an individual's death. It consists of an account of everything the decedent owned or had interest in on the date of death. This includes cash and securities, real estate, insurance, trusts, annuities, business interests, and other assets. The tax is based on the [...]

By |2016-11-23T22:45:40+00:00June 17th, 2016|Categories: Uncategorized|0 Comments