Tax Court Corner – Three Cases, Three Great Tips
Tax Court Corner - Three Cases, Three Great Tips Here’s a roundup of several recent tax court cases and what they mean for you. Blogging for Taxes (Thomas v. Commissioner of IRS, 160 T.C. No. 4) The innocent spouse relief rule allows one spouse to avoid paying taxes...
Taxes: Knowing the Basics is Key
Taxes: Knowing the Basics is Key It's the starting point to saving money Understanding how our tax system works can be tricky for anyone. Whether you're an adult who never paid much attention to the taxes being withheld from your paycheck or a kid who just got his or...
Mitigating Business Risk with Cross-Training
Mitigating Business Risk with Cross-Training Cross-training to ensure more than one person knows key functional areas can be a win-win situation for you and your employees. Large companies often use it to prepare managers for future promotions. But in small companies,...
Take a Look at Better Savings Rates
Take a Look at Better Savings Rates A silver lining to continued interest rate hikes by the Federal Reserve is being able to earn more interest on cash stashed in your savings accounts. How much interest, exactly, you can earn depends on where you do your banking....
Sharpen Your AI Toolkit for the Upcoming School Year
Sharpen Your AI Toolkit for the Upcoming School Year Artificial intelligence got pushed front and center in America's classrooms with the release of ChatGPT in late 2022. As a new school year gets underway, here are some ideas for both students and teachers to harness...
Your Home is a Bundle of Tax Benefits
Your Home is a Bundle of Tax Benefits There are many tax benefits built into home ownership. Here is a review of the most common. The home gain exclusion. When you sell an asset for a profit, it creates a taxable event. If the asset, though, is your primary residence,...
The Trouble With 0% Financing
The Trouble With 0% Financing Companies want to make it easy to buy their big ticket items, especially at times of economic uncertainty. A popular technique is to offer 0% financing when you buy furniture, electronics and other household items. You can also take...
Hiring Family Members – What You Need to Know!
Hiring Family Members - What You Need to Know! Many business owners hire their children, their spouse, or other family members to work in their business. Sometimes this works out well. Other times it causes problems. Here are some of the key pros and cons of putting...
2023 Form W-9 & 1099 Check-In
2023 Form W-9 & 1099 Check-In Summer is officially over and as we near the beginning of the 4th quarter, we again want to remind you of the importance of making sure that you are well on your way in gathering the information you will need (or we will need) in...
Multiple Jobs: Be Prepared for Tax Surprises
Multiple Jobs: Be Prepared for Tax Surprises Working more than one job can help maximize income, but also potentially create a tax surprise. Here are several be aware of: Social Security Surprise As a full-time employee, the most you'll have to pay in Social Security...