The Many Benefits of 401(k) Profit-Sharing Plans
401(k) profit sharing plans are a great way to compensate employees in a tax-advantaged way. Here are the limitations on 401(k) profit sharing for 202…
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Contemplating Refinancing Your Home Mortgage? Things You Should Consider
With home mortgage rates at historic lows, it may be appropriate for you to consider refinancing your current mortgage. However, refinancing may not a…
Video tip: Extension of COVID-19 Relief Leave Donations
The ability to donate your unused paid vacation time to COVID-19 charity organizations has been extended by the IRS through the end of 2021. Watch the video for more information.
Tax Rules for Home Flippers
With mortgage interest rates low, flipping real estate appears to be on the rise. This activity is even the theme of several popular reality TV shows….
8 Keys to Creating an Effective Employee Handbook
Most companies have policies or procedures governing their employment practices, but they’re sometimes maintained informally. This article provides 8 …
Video tip: How Long Should You Keep Old Tax Records?
This is a common question: How long must taxpayers keep copies of their income tax returns and supporting documents? Watch this video for an overview.
Back-Door Roth IRAs
Many individuals who are saving for retirement favor Roth IRAs over traditional IRAs because the former allows for both accumulation of account earnin…
Day Care Providers Enjoy Special Tax Benefits
A taxpayer who is in the business of providing family day care in their home may deduct the ordinary and necessary expenses of their business. The two…
Video tip: Unemployment Refunds Are Being Sent Out
Did you miss the $10,200 unemployment benefit exclusion on your tax return? No worry, the IRS has started reprocessing and sending refunds back to affected taxpayers. For more information, watch this video.
Sole Proprietorships – Don’t Overlook the Liability Issues
If you are considering starting a business, the simplest and least expensive form of business is a sole proprietorship. A sole proprietorship is a one…
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