Every year I mention this and every year, it’s worth sharing again. Taxes don’t have to be painful, but the longer you wait or the less organized you are, the less enjoyable (and more expensive) they can be. Many times, over the years, we’ve joked about the “shoebox filled with Read more…
Time is really getting tight with Tax Day only a few weeks away, but I wanted to reach out this morning to ask you (what I think is) an important question. How do you continue to learn? After all, at this day in age, there are thousands of ways to Read more…
C corporations cause double taxation for business owners, so you probably think you want to avoid them at all costs. And for many of you, this is true, as the S corporation often provides the lower overall tax outcome. But for some of you, the C corporation could provide the Read more…
When you receive restricted stock awards, you need to decide whether you want to make a Section 83(b) tax election. Without the Section 83(b) Election With no Section 83(b) election, you must recognize taxable compensation income from your restricted stock award in the year the restriction causing the substantial risk Read more…
Nearly every day, a client asks me for financial advice and, inevitably, one of the next questions is if I believe they need to retain a financial advisor. I know it’s a loaded question, but the truth is, the right financial advisor can be worth their weight in gold and Read more…
Over the last month, the world has had all sorts of conspiracy theories about the possibility of a pandemic based on the coronavirus and the threat it poses to worldwide markets. The truth is, it caused a major sell-off in late February and it continues to baffle researchers around the Read more…
As you likely know, the Tax Cuts and Jobs Act made a big change in how C corporations are taxed—one flat, 21 percent rate. The new, lower rate makes the C corporation far more appealing than in prior years. But you also need to look at the dark side of Read more…
When both members of a married couple participate in an unincorporated business venture, must it be treated as a husband-wife partnership for federal tax purposes? Answer: maybe, or maybe not. Figuring out the answer is important because it can have a huge impact on the couple’s self-employment tax situation. Husband-wife Read more…
Every year, we get a lot of the same questions. It could be “how do I get another copy of my W2?” or “Do I need to keep this 1095?” …But we get them. In the last few years, though, we’ve started getting more questions based on the tax preparation Read more…
Like the title says, there might not be anything worse than hearing or reading those words from the IRS – the ones telling you to prepare for an audit. Even after all of these years, I still get nervous hearing them, but, having “been to the movie” a few times, Read more…