When a loved one who was “financially comfortable” passes away, his or her family must deal with the emotional issues that come with the loss — as…Read More
Archive for the ‘Tax’ Category
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Deducting Pass-Through Business Losses
Many business ventures generate tax losses, especially in the first few years of operation or under adverse conditions. When can losses be deducted — and how much…Read More
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Employers: Be Aware (or Beware) of a Harsh Payroll Tax Penalty
If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the IRS, a harsh penalty can be…Read More
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Employee vs. Independent Contractor: How Should You Handle Worker Classification?
Many employers prefer to classify workers as independent contractors to lower costs, even if it means having less control over a worker’s day-to-day activities. But the government…Read More
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Tax-Smart Domestic Travel: Combining Business with Pleasure
Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner, you have a golden…Read More
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Hire Your Children This Summer: Everyone Wins
If you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other non-tax benefits. The kids can gain…Read More
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How Entrepreneurs Must Treat Expenses on Their Tax Returns
Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know, before…Read More
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Deducting Business Meal Expenses Under Today’s Tax Rules
In the course of operating your business, you probably spend time and money “wining and dining” current or potential customers, vendors and employees. What can you deduct…Read More
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Electric Vehicle Tax Credit: You Can Still Save Greenbacks for Going Green
Are you considering buying a new plug-in electric vehicle or a plug-in electric-gas hybrid vehicle? There is good and bad news about the tax credits and other cost-saving benefits…Read More
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Divorcing Business Owners Need to Pay Attention to Tax Implications
If you’re getting a divorce, you know it’s a highly stressful time. But if you’re a business owner, tax issues can complicate matters even more. Your business…Read More