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Considering moving for lower tax in a different state? Are you moving for lower tax rather than a change of scenery? 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. Wrong! To avoid an expensive misstep, you must […]

SEP vs Solo 401(k): What Plan is a Better Choice? Working for yourself doesn’t mean you have to miss out on the tax benefits and security of W-2 employment. If you’re self-employed and looking for a retirement plan, you may be comparing a SEP vs. Solo 401(k). With both retirement plans, your investment in your […]

Important Paypal Changes 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 […]

Choosing an S-Corporation Election Choosing an S-Corporation Election at the right time 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 […]

Vacation Home Tax Deductions Do you know of all the vacation home tax deductions that may apply to you?  Business-Lodging Exemption If your vacation home is used exclusively for business lodging purposes, you can deduct your business-lodging expenses. Provided you have no personal or rental use of it, your vacation home is considered a 100% […]