Do you Have a Side Gig? Make Sure you Understand Your Tax Obligations
These days, many people have side “gigs” to earn extra money. Find out more about the tax consequences of taking on these jobs.
Six Reasons to use IRAs for Real Estate Investing
Did you know you can use IRAs (your own or someone else’s) to invest in real estate? Here are some reasons to consider doing this.
What is Your Taxpayer Filing Status?
Should you file your tax return as a single person, a married couple filing jointly, a “head of household” or some other status? This explains what the federal tax filing statuses are and who can claim them.
Using Your 401(k) Plan to Save This Year and Next
Have you been contributing enough in 2019 to your employer’s 401(k) plan or Roth 401(k)? Here are the contribution limits for this year and the just-announced limit for 2020.
Small Businesses: Stay Clear of a Severe Payroll Tax Penalty
Did you know you could be personally liable for a harsh penalty if payroll taxes withheld from your employees aren’t paid over to the federal government? Learn more about whom the IRS can go after at your business.
Five Key Elements to Private Money Lending
Privately money lending through a Self-Directed IRA or 401(k) to real estate investors is a commonly used strategy that may grow retirement funds. In addition to consulting a team of advisers to decide if the debtor’s investment plans are in unison with your professional portfolio, there are a few case-specific characteristics to consider.
IRA Charitable Donations are an Alternative to Taxable Required Distributions
There’s a tax-smart strategy for high-net-worth individuals over 70-1/2 years old who have IRAs and are charitably minded.
Selling Securities by Year End? Avoid the Wash Sale Rule.
Have you cashed in some investment gains in 2019? You may be looking for unrealized losses in your portfolio so you can sell those investments to offset your gains before year end. This can reduce your tax liability. But don’t run afoul of this rule.
Understanding & Controlling the Unemployment Tax Costs of Your Business
Unemployment taxes can cost your business a bundle. That is especially true if a lot of former employees file unemployment claims against your business. Fortunately, you may be able to reduce your unemployment tax bill.
Take Advantage of the Gift Tax Exclusion Rules
With the annual federal gift tax exclusion, you can transfer substantial amounts free of gift taxes to your children and others. Here are the basic rules.