Taxes

Originally launched in 1979 and based out of Manhattan, Inc. is one of the most famous magazines in existence that celebrates what it means to be an entrepreneur. The print edition has an estimated circulation of about 1.4 million copies, while the online page -

According to one recent study, start-ups created over two million jobs in the United States in 2015 alone. In fact, by 2018, there were 30.2 million such organizations operating in the country — making up a significant part of the economy. But having an idea

Article Highlights: Sec 199A Deduction Qualified Business Income Threshold Specified Service Businesses Limitations Wage Limitation Aggregating Amounts Several years ago, when Congress changed the tax-rate structure for C corporations to a flat rate of 21% instead of the former graduated rates that topped out at

If you’re running an e-commerce business, you are part of one of the most exciting and expansive aspects of the global economy. No matter what you’re selling – whether product or service — the challenges are constant and the competition is fierce. That’s why it’s

Article Highlights: Tapping Your Retirement Savings Traditional IRAs and Qualified Retirement Plans Simple IRAs Early-Withdrawal Penalties Reduction in Retirement Savings Exceptions from the Early-Withdrawal Penalty Roth IRAs Your 401(k), IRA or other retirement accounts may be a tempting source for cash if you find yourself

Article Highlights: Reverse Mortgages Reverse Mortgage Terms When Is the Interest Deductible? Who Deducts the Interest? Other Options The annual inflation rate in the U.S. accelerated to 7.5% in January of 2022, the highest since February of 1982, hitting those on fixed retirement income, namely

Article Highlights: Charity Auctions Use of an Asset Charity Volunteer Away-From-Home Travel Expenses Entertainment Vehicle Use Uniforms Vehicle Donations Valuing Non-cash Contributions Documentation Charitable contributions are deducted as part of a taxpayer’s itemized deductions on IRS Schedule A, except for the special 2020 and 2021

Article Highlights: Stepped-Up Basis Inherited Basis Inheritance Basis Example Step Down Basis Long-Term Capital Gains Tax Rates Jointly Owned Property Gifting Prior to Death You may hear people use the term “Stepped-Up Basis” that many believe is a tax provision that allows beneficiaries of an

Many taxpayers use the Where's My Refund tool and wonder what "Return being processed" means for them and their refund. The answer: not much yet! The prompt means that the IRS has received your return, but due to Covid-19 delays, the IRS is experiencing a

March 2022 Individual Due Dates March 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during February, you are required to report them to your employer on IRS Form 4070 no later