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 aren't as exciting as preparing for … [Read more...] about 5 Things You Need to Do After Jumping Into Entrepreneurship
Personal Tax
Using Online Agents to Rent Your Home Short Term? You May Be Surprised at the Tax Ramifications
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 renters, such as Airbnb, VRBO and HomeAway, then you … [Read more...] about Using Online Agents to Rent Your Home Short Term? You May Be Surprised at the Tax Ramifications
Divorced, Separated, Married or Widowed? Unpleasant Surprises May Await You at Tax Time
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 … [Read more...] about Divorced, Separated, Married or Widowed? Unpleasant Surprises May Await You at Tax Time
Tax Reform and Your Taxes
Article Highlights: Personal Exemptions Standard Deductions Itemized Deductions Medical Taxes Home Mortgage Interest Charity Casualty Losses Employee Business Expenses Tax Rates Child Tax Credit Well, the Tax Cuts and Jobs Act (H.R. 1) has passed, mainly starting in 2018, and if you are confused by how this new law will impact you, you’re not … [Read more...] about Tax Reform and Your Taxes
December 2017 Individual Due Dates
December 1 - Time for Year-End Tax Planning December is the month to take final actions that can affect your tax result for 2017. Taxpayers with substantial increases or decreases in income, changes in marital status or dependent status, and those who sold property during 2017 should call for a tax planning consultation appointment. December 11 - Report Tips to Employer If … [Read more...] about December 2017 Individual Due Dates