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...
More InfoWho Claims the Children You or Your Ex-Spouse?
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 parents; however, tax law...
More InfoTax Issues Related to Hobbies
Generally, when individuals have a hobby, they have it because they enjoy it and are not involved in their hobby with the goal of making money. In fact, most hobbies never make money or don’t even create any income, for that matter. Tax law...
More InfoWhat Is the Statute of Limitations on Unpaid Taxes?
If you have unpaid taxes that you haven’t yet been making payments toward, it might make you fearful that the IRS will come a-knocking one day to collect on what you owe. Tax debt can quickly snowball from interest, penalties, late fees...
More InfoHow Business Owners Can Improve Cash Flow By Thinking Profit First
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...
More InfoLooking Ahead to 2019 Taxes
You have your 2018 tax return filed, or perhaps on extension, and now it is time to look forward to the changes that will impact your 2019 return when you file it in 2020. Keeping up with the constantly changing tax laws can help you get the most...
More InfoAll the Expert Tips You Need to Properly Manage Cash Flow for Your New Business
In the largest possible sense, handling the cash flow for your new business is exactly what it sounds like ‒ you’re trying to get the clearest level of visibility into “money coming in versus money going out” as possible. But managing cash flow...
More InfoGet Those Kids a Job, and Take Advantage of Tax Breaks
Children who are dependents of their parents are subject to what is commonly referred to as the kiddie tax. This generally applies to children under the age of 19 and full-time students over the age of 18 and under the age of 24. The kiddie tax...
More InfoWhat Are My Chances of Being Audited and How Can I Reduce Them?
First, don’t panic. Audits are relatively rare, as fewer than 1% of taxpayers grouped by income level will get that dreaded notice on IRS letterhead. Per the linked statistics, for the average American who earned $50‒70K per year, only about half...
More Info