Tax Ramifications of Disposing of a Vehicle
Article Highlights: Trading in a Vehicle Selling a Vehicle Gifting a Vehicle Donating a Vehicle to Charity If you are buying a new car, are you wondering what to do…
Is It Time for a Payroll Tax Checkup?
Article Highlights: Tax Reform Underpayment Penalties W-4 Modifications for 2020 Withholding Estimator Penalty Abatement Was your 2018 federal tax refund less than normal, or – worse yet – did you…
5 Things You Should Know About the Chart of Accounts in QuickBooks Online
You probably didn’t expect you’d have to become an accounting expert when you started your business. You knew you’d have to deal with recording income and expenses – maybe track…
See the US Tax System Illustrated in One Complex Map
Not sure whether it’s worth your while to hire a tax professional to do your taxes? Thinking that maybe this year you’ll take a run at it yourself? You may…
The Checklist Every Small Business Owner Needs for New Hires
Growing your business to the point that you need to start hiring employees is exciting. It’s also rife with administrative burdens that you don’t want to be unprepared for. When…
Life Changing Events Can Impact Your Taxes
Article Highlights: Marriage Buying a Home Having or Adopting Children Getting Divorced Death of Spouse Throughout your life there will be certain significant occasions that will impact not only your…
Tax Issues That Arise When Converting a Home into a Rental
Article Highlights: Reason for Conversion Basis Depreciation Cash Flow versus Tax Profit or Loss Passive Losses Home Gain Exclusion There are many reasons to convert a home into a rental,…
Who Owes You? 5 QuickBooks Online Reports That Can Tell You Fast
Quick: How many of your invoices are unpaid? Have any of your customers gone over 30 days past due? Did you bill all of the time and expenses for that…
Child Daycare and Taxes
Article Highlights: Daycare Providers Simplified Food Deduction Special Rules for Business Use of the Provider’s Home Home Sale Consequences Other Expenses Other Daycare Provider Issues Daycare User Credit Employer Dependent…
Video: How to Minimize Your Tax On Social Security Benefits
Whether your Social Security benefits are taxable (and, if so, the amount that is taxed) depends on a number of issues. The following will help you understand the taxability of…