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5 02, 2018

5 Things You Need to Do After Jumping Into Entrepreneurship

By | 2018-01-09T22:15:32+00:00 February 5th, 2018|Categories: Uncategorized|0 Comments

Congratulations! You've decided to dive into the exciting world of entrepreneurship and bring that great business idea to life. Whether you're opening a local brick-and-mortar business that your community needs, looking to grow rapidly in the next few years and get an investor, or just keep things small and solo, certain steps come next that [...]

1 02, 2018

Important Things to Know About IRAs

By | 2018-01-09T22:15:04+00:00 February 1st, 2018|Categories: Uncategorized|0 Comments

Article Highlights: IRA Contribution Limits Compensation Active Participation Traditional IRA AGI Phaseouts Nondeductible Contributions Spousal IRA Roth IRA Back Door Roth IRA Penalties Rollovers Conversions Required Minimum Distributions The individual retirement account (IRA) is one of the favored ways to save money for retirement. There are two types of IRAs: the traditional IRA and the [...]

29 01, 2018

5 QuickBooks Reports You Need to Run in January

By | 2018-01-09T22:13:34+00:00 January 29th, 2018|Categories: Uncategorized|0 Comments

Does your accounting to-do list look like a clean slate, or are critical 2017 tasks still nagging? Getting all of your accounting tasks done in December is always a challenge. Besides the vacation time you and your employees probably took for the holidays, there are those year-end, Let’s-wrap-it-up-by-December-31 projects. How did you do last month? [...]

25 01, 2018

Using Online Agents to Rent Your Home Short Term? You May Be Surprised at the Tax Ramifications

By | 2018-01-09T22:16:27+00:00 January 25th, 2018|Categories: Uncategorized|0 Comments

Article Highlights: Schedule C vs. Schedule E Rentals of Less Than15 Days Rentals of 7 Days or Less Rentals of 8 to 30 Days Exception to the 30-Day Rule If you are among the many taxpayers renting your first or second home using rental agents or online rental services that match property owners with prospective [...]

22 01, 2018

Sold Your Home Last Year? Thinking of Selling? Read This!

By | 2018-01-09T22:06:26+00:00 January 22nd, 2018|Categories: Uncategorized|0 Comments

Article Highlights: Home Sale Exclusion 2 out of 5 Rule Business Use of the Home Gain or Loss from a Sale Previous Use as a Rental Records If you sold your home last year, or if you are thinking about selling it, you should be aware of the many tax-related issues that could apply to [...]

19 01, 2018

How Small Businesses Write Off Equipment Purchases

By | 2018-01-09T22:19:41+00:00 January 19th, 2018|Categories: Uncategorized|0 Comments

Article Highlights: Depreciation Materials & Supplies De Minimis Safe Harbor Expensing Routine Maintenance Unlimited Expensing Bonus Depreciation Sec 179 Expensing Mixing Methods From time to time, an owner of a small business will purchase equipment, office furnishings, vehicles, computer systems and other items for use in the business.  How to deduct the cost for tax [...]

15 01, 2018

Driving For Uber Or Others? Your Tax Situation Is Unique

By | 2018-01-09T22:04:17+00:00 January 15th, 2018|Categories: Uncategorized|0 Comments

Article Highlights: 1099-K Schedule C Uber and Credit Card Fees Record Keeping Vehicle Expense Options Home Office Other Options With tax time approaching, if you drive for Uber, Lyft or a competitor, here is some tax information related to reporting your income. You are considered self-employed and will report your income and deductible expenses on [...]

11 01, 2018

1099 Filing Date Just Around the Corner

By | 2018-01-11T20:26:20+00:00 January 11th, 2018|Categories: Uncategorized|0 Comments

Article Highlights:   Independent Contractors 1099 Filing Requirement Due Dates Penalties Form W-9 and 1099 Worksheet If you operate a business and engage the services of an individual (independent contractor) other than one who meets the definition of an employee, and you pay him or her $600 or more for the calendar year, you are [...]

11 01, 2018

Tax Time Has Arrived! Are You Ready?

By | 2018-01-09T22:21:55+00:00 January 11th, 2018|Categories: Uncategorized|0 Comments

Article Highlights:   It is time to gather your information for your tax appointment Choosing your alternatives Tips for pulling your information together   If you’re like most taxpayers, you find yourself with an ominous stack of “homework” around TAX TIME! Pulling together the records for your tax appointment is never easy, but the effort [...]

9 01, 2018

Divorced, Separated, Married or Widowed? Unpleasant Surprises May Await You at Tax Time

By | 2018-01-09T21:35:48+00:00 January 9th, 2018|Categories: Uncategorized|0 Comments

Article Highlights: Separated Taxpayers Divorced Taxpayers Recently Married Taxpayers Widowed Taxpayers Filing Status Joint and Several Liability Who Claims the Children Alimony Community Property States Affordable Care Act Taxpayers are frequently blindsided when their filing status changes because of a life event such as marriage, divorce, separation or the death of a spouse. These occasions [...]