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Moving to a Lower Tax State
Published on July 19, 2021 Are You Thinking about Moving to a Different State? Is Your State Tax Part of Your Decision-Making? If your intent is to relocate to a lower-tax state, it may seem like a no-brainer to move to one that has no personal income tax. No! To avoid an expensive misstep, you must consider all taxes that […]
SEP vs Solo 401(k): What Plan is a Better Choice
Published on July 13, 2021 Working for yourself doesn’t mean you have to miss out on the tax benefits that regular employees get from standard workplace retirement plans. If you’re self-employed and looking for a retirement plan, you may be trying to decide between a solo 401(k) and a SEP IRA. With both retirement plans, your investment in your tax-favored […]
Paypal Changes You Should Know About
Published on July 07, 2021 If you’re selling stuff online and using payment processing services, like PayPal or eBay, to collect money, get ready for upcoming changes. The IRS now wants to know if your Paypal or Ebay sales exceed $600 a year. Starting 2022, the federal threshold for issuing 1099-K will drop to $600 with no minimum transaction level, […]
Should I Make An S Corporation Election?
Published on June 24, 2021 Choosing the right business type is important to the success of your business. The business structure you choose influences everything from day-to-day operations, to taxes, to your ability to raise money, and to how much of your personal assets are at risk. Whether you are just starting your business, or have been operating as a […]
Create Tax Deductions on Your Vacation Home
Published on June 09, 2021 Do you own a vacation home? If yes, did you know that you might be able to deduct a number of vacation home expenses on your business tax return? Business-Lodging Exemption If your business uses your vacation home or condo exclusively for business lodging purposes, you elude the vacation-home rules and allow you to deduct […]
