How you classify a ‘worker’ in your business, whether as an employee or sub-contractor, can have far reaching effects to you AND your business.
don’t let your inability to pay your tax liability in full keep you from filing your tax return properly and on time. If you don’t file your tax return, it only makes things worse.
There is a very powerful estate planning tool that may enable you to reduce your liability for income and estate taxes, protect your assets AND diversify your assets in a tax-advantaged manner.
To help protect and warn the public the IRS releases it’s annual list of the top scams to watch out for.
When considering the renovation of an older property, it’s important to be aware of two important tax credits that could add some serious profit to your bottom line.
This has to be one of the most under utilized tax strategies by small business owners with families today. Many don’t realize that paying their children under age 18, as well as adult children or grandchildren, is an excellent strategy to minimize their tax liability, not to mention it creates a host of other ancillary benefits.
First and most importantly, don’t let your inability to pay your tax liability in full keep you from filing your tax return properly and on time. If you don’t file your tax return, it only makes things worse.
Here is a list of the TOP 10 things TO do, or NOT do, in order to avoid an audit. As many of you can imagine, an audit can be expensive and time consuming, not to mention, emotionally draining experience.
I encourage all of you to ‘at least’ consider buying one rental this year (in or outside of your retirement account) and determine if it is a good fit for you.
Some business owners who want to save on employment taxes treat employees like contractors and 1099 them rather than set up payroll with a W-2. BEWARE!!