Why Young Families Need an Estate Plan—Now, Not Later Estate plans may seem like a domain for older individuals, but they are an essential planning tool for every family. For families, the most important question is who will raise...
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Personal Tax Audit? Here’s How to Handle It With Confidence If you’ve been selected for an IRS audit, don’t panic — preparation is key. Start by carefully reviewing your tax return, either with the professional who prepared it or,...
What Are the Rules on Overtime? Before we can fully understand what overtime is, we need to understand how the Fair Labor Standards Act defines a workweek. FLSA says that an employee’s workweek is a fixed and regularly recurring...
How to Avoid Tax Pitfalls With Your Vacation Rental Property Purchasing a vacation home and renting it when you are not using it is an excellent way to help finance the property. However, the tax aspects of renting your...
Trusts Versus Wills: What’s Right for You? A will is a legal document that takes effect after your death. It specifies how you want your assets distributed and allows you to name a guardian for minor children. Wills must...
How Can I Turn My Hobby Into a Business? Maybe you see how an off-hours activity can become a profitable company. Or perhaps you have a spouse who brings in sufficient income to support both of you, and you’d...
Own Property? Here’s a Smart Way to Save on Taxes Own property? Here’s a smart way to save on taxes.If you’re a property owner looking for ways to reduce your tax bill, cost segregation might be the strategy you’ve...
An annuity is a contract between you and an insurance company that is marketed to provide predictable income in retirement, often to address the risk of outliving savings. The insurance company pays you a fixed or variable income, often...
Staying proactive and detail-oriented can help you avoid the most common inaccuracies on your business taxes. Easily avoided mistakes are surprisingly common. These errors include providing an incorrect Social Security number, making math errors or entering the wrong bank...
The IRS’s annual “Dirty Dozen” memo lists 12 tax scams you should watch out for. The education effort wants to protect you from tax traps like identity theft or being misled into claiming tax credits you’re not entitled to....