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Business Valuator, Forensic/Litigation Support Accountant, and Accountant Consultants

Individual

Blog categorized as Individual

Educate your children on wealth management
You want to pass your wealth on to your children after you’re gone, but you also want the peace of mind that they’ll manage the inheritance with responsibility and care. Learn about the available estate planning tools.
15.03.22 09:25 AM - Comment(s)
Working in the gig economy results in tax obligations
The pandemic has caused some people to turn to “gig” work to make up for lost income. Here are the tax consequences of taking on these jobs.
01.06.21 10:34 AM - Comment(s)
Taking distributions from a traditional IRA
It may seem easier to put money into a traditional IRA than it is to take money out. Here are some of the ins and outs of the IRA distribution rules.
23.11.20 11:49 AM - Comment(s)
Can investors who manage their own portfolios deduct related expenses?
Are you an investor or a trader? While trader status is difficult to achieve, if a taxpayer qualifies, he or she can deduct investment-related expenses.
19.10.20 01:11 PM - Comment(s)
On-time financial reporting is key in times of crisis
Who cares if your financial statements are late? Lenders and investors are looking for reassurance that you’re doing OK in today’s unprecedented conditions. Procrastination may cause them to presume the worst.
21.09.20 10:24 AM - Comment(s)
Homebuyers: Can you deduct seller-paid points?
In most cases, points a buyer pays in a home sale are a tax deductible interest expense. But what about seller-paid points?
08.09.20 09:35 AM - Comment(s)
Will You Have to Pay Tax on Your Social Security Benefits? 
After paying into Social Security for all your working years, you may be surprised to learn that the benefits may be taxed in retirement. Here are the rules.
31.08.20 10:50 AM - Comment(s)
What happens if an individual cant pay taxes 
Tax liabilities don’t go away if left unaddressed. Here’s a look at what happens in the event you (or someone you know) can’t pay taxes on time.
24.08.20 11:58 AM - Comment(s)
More parents may owe nanny tax this year, due to COVID-19
Do you have a nanny, housekeeper or other household worker? If you pay him or her cash wages of $2,200 in 2020, you must withhold and pay Social Security and Medicare taxes. Learn about this and other tax obligations for household workers.
11.08.20 11:12 AM - Comment(s)
Some people are required to return Economic Impact Payments that were sent erroneously
Millions of people have already received their Economic Impact Payments, which are being sent by the government to help mitigate the effects of #COVID-19. In some cases, the payments should be returned.
05.08.20 10:30 AM - Comment(s)