Steven Imke August 30, 2021 Let’s face it. The federal government is funded by tax dollars and it is not in their economic interest to have a largely self-employed workforce. Let’s take a look at a tale of two equally sized cities. In one city, everyone works for one large corporation with several thousand employees. … Continue reading 4 Reasons the IRS Really Does Not Want You to Be Self-Employed
John Rampton August 18, 2021 When it comes to taxes, we all have to pay the piper. In this case, the piper is Uncle Sam. So, even though you’ve seemingly already paid your fair share, your taxes aren’t going to necessarily be any lower in retirement. And, this also applies to annuity owners. Annuity Taxation … Continue reading Understanding Annuities and Taxes: Mistakes People Make
Liz Armbruester August 2, 2021 It’s been three years since the Supreme Court of the United States issued the groundbreaking decision in South Dakota v. Wayfair, Inc — making it possible for authorities to collect sales tax on remote sales in their state regardless of the physical location of the seller. Even though remote sales … Continue reading 3 Years of Remote Sales Tax – Challenges Still Loom for Businesses
John Rampton July 16, 2021 Just this morning I booked my room for an upcoming wedding. What I’ve preferred when making a room reservation is that you aren’t charged until you check out. In other words, you need a card number to book the room but aren’t charged until a later date. Why do I … Continue reading What Is a Tax-Deferred Annuity?
Stacey Howard May 5, 2021 One of the biggest stresses experienced by businesses and individuals is nothing but tax return preparation and filing. The reason it is so stressful is due to the fact that taxes are complicated to handle, and with the growing number of tax reforms, this complexity is simply increasing. One needs … Continue reading What Can You Do Now to Make 2021 Your Best Tax Year Ever?
Davis Bell February 26, 2021 Largely due to COVID-19 and the related bills passed by Congress, 2020 brought with it notable tax changes. In this article, we will go over the main changes for the 2021 tax season—from tax bracket inflation adjustments to changes in tax law—that impact a large percentage of Americans. As accounting … Continue reading A Short Guide to the 2021 Tax Season
Steven Imke November 10, 2020 Regardless if you are the seller or buyer of a small business, it is not how much money the seller gets for the business but how much they get to keep at the end that will shape the negotiations and the final sales price. Taxes can take a huge bite … Continue reading Types of Business Purchases – Taxes and Legal Issues
Deborah Sweeney September 25, 2020 What do you know about employer identification numbers, or EINs? Chances are that unless you’re a small business owner you may not be entirely familiar with how these types of tax IDs work. What is an EIN and what makes having one so valuable to entrepreneurs starting small businesses? Let’s … Continue reading EINs: How Can Startups Use This Tax ID?
Sara Gelsheimer — June 9, 2020 stevepb / Pixabay When events such as COVID-19 occur, investors often feel at the mercy of wildly fluctuating portfolios. Investing in the market involves risk — your portfolio will go down. And according to the math of percentages, the more significant your losses, the more returns you’ll need to … Continue reading Tax Reduction Strategies to Help Your Portfolio During a Crisis
Steven Imke — April 6, 2020 As a small business mentor, I often discuss how money flows through a business, and the effects it has on income taxes. Inevitably, the discussion descends into the use of various federal tax forms and schedules. Of course, not all tax forms are required by every business, and many … Continue reading You Need to Know Your Small Business Tax Forms