Retirement Contribution Limits For 2021
If you are like many people, you are thinking about what may be ahead as you near retirement. Whether you are within a few years of retirement or still have decades to go, contributing as much…
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ARTICLES IN TAX PLANNING
The Basics of Depreciation For Real Estate Rental Property
When you own real estate investment properties, there are a lot of tax benefits to be aware of. One of…
How Job Loss May Impact Your Tax Situation
If you experience a job loss, you will of course have numerous questions as to how it will impact your…
What To Do If You Can’t Pay Your Taxes
For most people, paying taxes is straightforward. You get a paycheck from your employer and the employer has already deducted…
All About Reporting Tip Income
In this gig economy, more taxpayers than ever before are receiving tip income. Whether the tips are from waiting tables,…
Claiming an Elderly Parent or Relative as a Dependent
Do you have an elderly parent or adult relative that you take care of? It doesn’t have to be a…
How to Account for your Side Hustle
Selling cheesecakes on the side, or DJ’ing friend’s weddings? You’re not alone. Over 15% of Americans work a side hustle, for reasons…
Frequently Asked Questions About Charging Sales Tax
Whether you run a brick and mortar business or an ecommerce business, you have to deal with charging sales tax.…
Be Careful With These Common Business Deductions
As a business owner, you’re entitled to a plethora of tax deductions. These tax deductions can help you to offset…
To Gift or Not? Should you Give your Clients Holiday Gifts?
Whether it’s carols blasting in the malls, or menorahs in the window, the holiday season is upon us. For small…
ASC 842, Leases, for Private Companies
The deadline for implementing the FASB’s new leases accounting standard, ASC 842, is fast approaching. Many private companies are only…
Tax Deductible Home Selling
Which Items are Tax Deductible when Selling a House? When you list your house on the market, you’re probably thinking…
14 Life Events That Warrant a Visit With Your CPA
Change is a constant part of life. With each change, adjustments have to be made. Certain changes in our lives…
Taxes and Other Implications of Real Estate Investing for Retirement
Two of the biggest concerns of those who are investing for retirement are not running out of money and maintaining…
Changes In The 2018 Tax Forms
With the acceptance of the Tax Cuts and Job Act reform, we are now seeing the results of one of…
Childcare Options and Costs
One of the hardest things to do as a parent is to leave your child in someone else’s care so…
Understanding Multiple State Taxation
We often think that having a home in multiple states is a great idea, and sometimes we contemplate working while…
Cash Versus Accrual
The Tax Cuts and Jobs Act of 2017 has led to changes in the way companies choose to be taxed. …
Hobby or Business?
“You should sell those.” It’s a phrase many people have heard when showing someone their crafts. When does a hobby…
Crowdfunding and Taxation
In recent years, raising money online through third-party backers, or crowdfunding, has grown in popularity. Originally utilized mostly by musicians,…
Thinking Ahead to 2019
With the close of 2018, we begin to look ahead to 2019 and ensuring that we set ourselves up for…
Lease or Buy?
Vehicle purchases are one of the largest expenses for most families. With an increase in people choosing to lease instead…
Changes to Family and Medical Leave
In 1993, then President Bill Clinton sought to find a support system to aid the rapid growth in the workforce,…
What Qualifies as a Business Deduction?
You had a great idea and now you’ve put it in motion as a business. And while income recognition is…
Taxation of E-Commerce
As the holidays near, more and more shoppers are turning to online methods of procuring that special gift. And it…