For many individual taxpayers and small business owners, using independent contractors can mean a reduction in tax liability for funds paid out, but can also mean that you are not...
Posted by Patrick O'Hara, EA on 03/27/2016
If you own a general contracting business or one of the supporting businesses, such as plumbing, electrical or drywall, then you will need to keep accurate records. The most important...
Posted by Dennis O'Brien on 03/27/2016
Bookkeeping for a small business can often seem to be a full time job all on its own. While it might be tempting to take some short cuts to move the process along, those shortcuts...
Posted by Patrick O'Hara, EA on
Everyone that needs to pay for school fees using Coverdell ESA or 529 will likely get Form 1099-Q from the IRS. This reveals the entire withdrawal made in the year to cover your school...
Posted by Elliot Kravitz, ATP on 11/30/2020
There are some rules from section 451 (c) as amended by the TCJA, which makes available ways to have advance payment in income for the tax year that it was obtained.The amendment of...
Posted by Elliot Kravitz, ATP on 11/07/2020
We all come to points in our life when we have to borrow money. It could be student loans to finance your education, mortgage to buy a house, or loan for your first vehicle. It could...
Posted by Elliot Kravitz, ATP on 07/09/2020
Debts come in many forms. This explains why we have good debs and bad debts. We can classify student loans as good debt, while credit card debt fits the category of bad debts as it...
Posted by Elliot Kravitz, ATP on 05/17/2020
Over the years, vital documents were created and stored in hard copies. This, without a doubt, came with its unique pros and cons. In time, with an increase in technological development,...
Posted by Elliot Kravitz, ATP on 01/19/2020
Lenders, at times, might check your credit using a hard inquiry, also called a hard pull. They will send a note of such an official review into your credit report. Such information...
Posted by CORE PERFORMANCE on 01/31/2022
