Retirement Income Taxation Retirement income taxation is something that many overlook when planning for retirement. But it is a very important subject that you should not forget about, as it can make a big difference in what you have left to live on. In this article, we will go over the taxation of several [...]
2018 Business Tax Changes The Tax Cuts and Jobs Act, which became law in December of 2017, cause a major overhaul of previous tax law. This change affects both business and personal taxes. In this article, we will go over 4 of the biggest 2018 business tax changes. 1. Corporate Tax Rates In previous [...]
Schedule C Schedule C is an attachment to the federal Form 1040. You use this form to report profit or loss from a business that is a sole proprietorship or an LLC that is set up as a disregarded entity with the IRS. Additionally, if you receive a 1099-MISC you will need to file [...]
Tax Scams You Should Watch Out For Tax season is in full swing. With this time of year comes many tax scams with people trying to get money or information from you. To help you keep alert, we will go over common tax scams to watch out for and what to do if you [...]
Sources of Taxable Income As you prepare to file your 2017 taxes, you may wonder what types of income you need to include. In this article, we will go over different sources of taxable income, so you can identify the documents that you need to gather for your tax preparer. W-2 Income If you [...]
Completing Form W9 If you receive a Form W9 you may be wondering why you got it and what to do with it. If you feel overwhelmed by tax forms, this article can help you. We will go over the purpose of a Form W9 and a step-by-step process of how to fill it out. [...]
Tax Changes for 2018 The passing of the new tax law has many people worried as tax season quickly approaches. You can rest assured, these changes will not show on this year’s tax returns, they will affect your taxes you file in 2019. However, you should be aware of the 2018 tax changes since [...]
Capital Gains Tax - What Is It? When you sell an asset for a profit, the difference between what you buy it for and what you sell it for is a capital gain. You earn this type of gain on such property as homes, stocks, bonds, and collectibles such as art. Capital gains from [...]
Filing Business Tax Returns Filing business tax returns can seem overwhelming and complicated. If you are a new business owner you may be wondering how you are going to file your taxes. The answer will depend on the type of business organization you use. In this article, we will go over the different business [...]
1031 Exchange If you are a real estate investor or own any type of real estate that produces income for you, you should be familiar with a 1031 exchange. This exchange allows you to defer capital gains if you sell your investment property and use the money to purchase a new investment property. These [...]
