The recent collapse of Silicon Valley Bank (SVB) and Signature Bank has raised concerns about the impact of bank failures on taxpayers. When banks fail, there is a ...
This is a story about Erin, a young woman who aspired to achieve financial success. Like many, she believed luck to be the sole key to success. Erin chased luck for ...
As someone who plays a reasonable amount of poker, I've learned that reading people is an art. The same principle applies to the business world, where how we ...
I'm almost certain that like myself you have some friends or acquaintances that have embraced the "Getting Back to Basics" lifestyle during the past couple of years ...
Good or Bad, Better or Worse, these Covid-19 impacted years have crystalized an experiential evolution in the modern workplace… Remote Working!
And, I am ...
If you operate your business as an S-Corporation, you will continue to enjoy good news in 2023 regarding your health insurance.
In this article, we give you the ...
Over the past couple of years, I’ve been all too aware of the evolution of meaningful discussions about an uncomfortable topic for some of us: The Dominant ...
The real estate boom appears to be over for now.
Morgan Stanley predicts that house prices could fall by 10 percent by the end of 2024, or perhaps twice as much ...
As you likely remember, the Section 1031 exchange allows you to sell a piece of appreciated real estate and defer all the taxes as long as you invest the entire ...
In Chief Counsel Advice (CCA) 202151005, the IRS opined on this issue.
But before we get to what the IRS said, understand that the CCA’s (Central Collection ...
It’s the new Year, and now is a great time for you to review your credit. Here are six (6) ways we suggest so that you might be able to do better in the coming ...
The stock market isn't doing so great these days. While a number of factors have played a role in this year's bear market (2022), skyrocketing inflation — the ...
For the business owner and tax practitioner, the most important part of the Inﬂation Reduction Act of 2022 was not the tax credit for ﬂashy new electric ...
Crowdfunding is the process of asking members of the general public for small amounts of money through any one of hundreds of crowdfunding websites.
The end of the year is near, so this week I'll speak to your Year-End Retirement Deductions since your retirement is one year closer as your clock continues to ...
If you have children under the age of 18 and you ﬁle your business tax return as a proprietorship or partnership, you can ﬁnd big savings in the work your ...
Do you need a replacement business car, SUV, van, or pickup truck?
Do you need tax deductions this year?
Do you need a tax credit to offset what you owe to the ...
The purpose of this article is to get the IRS to owe you money.
Of course, the IRS will not likely cut you a check for this money—although, in the right ...
The newly enacted Inﬂation Reduction Act contains tax credits and depreciation beneﬁts for owners of commercial property and residential rental properties.
With the United States baseball championship well underway in this year's 2022 World Series, I received an interesting question about Sports Memorabilia (Baseball ...
Are you thinking of buying an electric vehicle or a plug-in hybrid?
And are you looking to beneﬁt from the $7,500 tax credit? If so, you have much to ...
Three things to know about this new law:
The existing electric vehicle tax credit that applied to both business and personal vehicles remains unchanged from ...
Last week I reported that more pay transparency was coming to California. The Golden State is joining New York City, Colorado, and Washington in requiring employers ...
California just signed into legislation (09.27.22, Senate Bill 1162) that will require all employers based or hiring in the state to post salary ranges on all job ...
Depending on where you’re sitting, you may have heard conflicting market rumblings suggesting that the ongoing economic (Venture Capital) scene is making it ...
Last Friday (09.16.22) the Biden administration presented a framework for regulating cryptocurrencies and other digital assets. This action denotes the first time ...
As I explained in Part 1 last week, a majority of states now allow pass-through entity (PTE) owners to get around the federal $10,000 state and local tax (SALT) ...
Maybe the least popular change brought about by the Tax Cuts and Jobs Act (TCJA) was a ﬁrst-ever cap on the federal personal income tax deduction for state and ...
In last April's article (2022) "Deducting Mortgage Interest When Your Name Is Not on the Deed", you learned how such a Mortgage Interest Deduction is possible.
From now (today) through October 2022, you can buy Series I Bonds that pay 9.62 percent interest. And you receive that rate for six months from the time of purcha...
During much of 2020 and 2021, you may have qualiﬁed for the Employee Retention Credit (ERC).
With the ERC, you found (or could ﬁnd) tax credits of up to ...
Last week we presented a "Quick and Dirty Guide to Tax Issues and Savings" if you decided to join the ranks of the Self-Employed or maybe you're still considering ...
If you're considering joining the Great Resignation and becoming self-employed to be in charge of yourself, pay attention. Before leaping, here are some things to ...
I have a friend who is the sole employee of his C corporation. Can he continue having his C corporation reimburse him for his health insurance payments? ...
Millions of American businesses legally organize themselves as limited liability companies (LLCs), partnerships, or similar entities. Do their owners have to pay ...
Well, the IRS woke up and noticed that average gas prices across the United States now exceeded $5.00 a gallon and took action that might help you a bit.
To stay in touch and promote my business, I buy dozens and dozens of Starbucks $5 gift cards and send them monthly to my prospects and referral sources. ...
You've read horror stories about how the IRS audits business owners and deems their 1099 independent contractors W-2 employees—and then assesses tens (or hundre...
Please clarify how to properly record commuting mileage, especially if you do other trips before and after stopping at your regular ofﬁce.
The IRS really wants to know about your Bitcoins and other Cryptos.
It starts at the top of the ﬁrst page of your Form 1040, where you ﬁnd the following ...