TOPICS IN THIS ISSUE: Benefits Of Starting Your Tax Planning Early In the Year What To Do If You’re Audited By the IRS 13 Advantages Of Keeping Personal And Business Bank Accounts Separate Ins And Outs of Settling With theRead more →
News & Articles
Once you retire, it’s helpful to keep several tax opportunities and tax consequences in mind.
Retirement may mean that you’ve stopped working, but it doesn’t mean that you’re finished with worrying about taxes.
Mixing one’s funds with the proceeds of a business is a tempting prospect. For many solopreneurs, commingling allows them to have a much simpler time when banking. However, situations may arise where mixing business funds with personal funds can lead to a complicated mess. While the actual business of banking is easier, things like account-keeping, tax reporting and separating business expenses from private earnings become a nightmare.Read more →
“Gasp!” That might be your first reaction to seeing an envelope with an eagle on the upper left corner and the dreaded words next to it: Internal Revenue Service. But fear is not an emotion that should flow through your body. Why not? Well, if you’ve accurately recorded what properly belongs on your tax return, you have nothing to fear from the IRS if they contact you about an audit.Read more →
Most individuals begin tax planning when the due date for filing income tax return is around the corner. However, it is prudent to start your tax planning earlier as it gives you more time to make a good estimate of your income and gains.Read more →
Not all the advice that a budding business leader hears on a podcast will be particularly actionable or beneficial. There is, however, some very good information and perspectives out there. To help newer leaders be more aware of things they can and should do in regards to their business, we asked members of Young Entrepreneur Council (YEC) the following:Read more →
Don’t think you can retire on modest money? You don’t have to stare down a life sentence of work, you just need to avoid some all too common mistakes.
Reading articles and blog posts online you may be tempted to believe that the biggest scourge threatening your financial goals are subscription boxes, latte consumption, and envy of the Joneses. Having worked within personal finance with people with modest incomes for nearly 20 years, I have learned that there are even more significant threats looking to sabotage your goals.Read more →
Many studies point to the conclusion that wealth and happiness are not positively correlated…
Financial stress is the worst kind of stress, and with the continuing rising cost of living, many Americans are feeling the crunch of financial stress. Financial stress has been linked to health problems like depression and sleep disorders.Read more →
The National Taxpayer Advocate released the convoluted map to draw attention to a frustrating system By ANDREW KESHNER Got a problem with your taxes? Get ready for a long and winding road. A new “roadmap” charts the labyrinth inside theRead more →
IRS has an Office of Appeals (OOA) that operates as an “independent” organization within the IRS. The goal of the OOA is to help Taxpayers resolve their tax disputes through an informal, administrative process, and through weighting IRS’ risks of litigation. The OOA aims to resolve tax controversies “without litigation” avoiding expensive and time-consuming court proceedings.Read more →
Before you head to the beach, use this tax-advantaged account to stock up on summer necessities.Read more →