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QUESTIONS ABOUT TAXES AND TIPS? HERE ARE SOME ANSWERS FOR EMPLOYERS
Businesses in certain industries employ service workers who receive tips as a large part of their compensation. These businesses include restaurants, hotels and salons. Compliance with federal and state tax regulations is vital if your business has employees who receive tips. ARE TIPS BECOMING TAX-FREE? During the campaign, President
THE TAX CONSEQUENCES OF SELLING MUTUAL FUNDS
Do you invest in mutual funds or are you interested in putting some money into them? If so, you’re part of a large group. According
YOU MAY BE ENTITLED TO TAX BREAKS IF CARING FOR AN ELDERLY RELATIVE
There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person’s life and allowing
WHEN DO VALUABLE GIFTS TO CHARITY REQUIRE AN APPRAISAL?
If you donate valuable items to charity and you want to deduct them on your tax return, you may be required to get an appraisal.
PAY ATTENTION TO THE TAX RULES IF YOU TURN YOUR HOBBY INTO A BUSINESS
Many people dream of turning a hobby into a regular business. Perhaps you enjoy boating and would like to open a charter fishing business. Or
SCRUPULOUS RECORDS AND LEGITIMATE BUSINESS EXPENSES ARE THE KEY TO LESS PAINFUL IRS AUDITS
If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should
HOW RENTING OUT A VACATION PROPERTY WILL AFFECT YOUR TAXES
Many small businesses are run as leanly as possible. This often means not offering what are considered standard fringe benefits for midsize or larger companies,
MAXIMIZE THE QBI DEDUCTION BEFORE IT’S GONE
Many small businesses are run as leanly as possible. This often means not offering what are considered standard fringe benefits for midsize or larger companies,
BEWARE OF A STEALTH TAX ON SOCIAL SECURITY BENEFITS
Some people mistakenly believe that Social Security benefits are always free from federal income tax. Unfortunately, that’s often not the case. In fact, depending on
9 TAX CONSIDERATIONS IF YOU’RE STARTING A BUSINESS AS A SOLE PROPRIETOR
When launching a small business, many entrepreneurs start out as a sole proprietor. If you’re launching a venture as a sole proprietorship, you need to