18 06, 2018

5 Questions to Ask Before Starting a Home-based Business

If you're getting tired of the view from your cubicle and want to start a business of your own, you'll need to figure out a few things first. A lot of people consider self-employment because they've lost their seemingly stable jobs in the corporate world. Others just dream of making it on their own.

7 06, 2018

Audit-proof Your Shareholder Loan

Business owners may face a lot of scrutiny if they borrow money from their company and then get audited. Find out how you can prepare.If you're a business owner and your company lends you money, you'll enter it in the books as a shareholder loan. However, if your return is audited, the IRS will scrutinize

31 05, 2018

The New Small Business Family Medical Leave Credit

There’s a new business tax credit that partially reimburses employers for providing paid family and medical leave for select employees. But small businesses should be informed before they try to use this new Family and Medical Leave Act (FMLA) tax break. Basics of the new credit Employers who provide at least two weeks of

31 05, 2018

Taxes and Virtual Currencies: What You Need to Know

Virtual currencies are all the rage lately. Here are some tax consequences you must know if you decide to dip your toe in that world. The IRS is paying close attention The first thing to know is that the IRS is scrutinizing virtual currency transactions, so if you live in the U.S. you'll have

17 05, 2018

How to Handle a Gap in Health Care Coverage & Avoid a Tax Penalty in 2018

Health care coverage gaps happen. Whether because of job loss or an extended sabbatical between gigs, you may find yourself without health care for a period. Here are some tax consequences you should know about, as well as tips to fix a coverage gap. Coverage gap tax issues You will have to pay a

17 05, 2018

Texas Unclaimed Property Filing Deadline is July 1st

Unclaimed Property is any financial asset that has been abandoned (i.e., no contact between the holder and owner) for periods ranging from one to 15 years. Examples are wages, uncashed checks, refunds/rebates, bank accounts, etc. Excluded are real estate and usually physical property. Each state has its own Unclaimed Property Filing Requirements, which are usually easy

11 05, 2018

Update on the Tax Cuts and Jobs Act (TCJA)

The Tax Cuts and Jobs Act (TCJA) was passed by Congress in a hurry late last year, and the IRS and tax preparers have been working to digest some of the more thorny issues created by the tax overhaul. Here are the latest answers to some of the most common questions: Is home equity

3 05, 2018

How to Get Your Marriage Off to a Good Financial Start

Wedding season is upon us. Did you know couples often enter into marriage without ever having had a discussion about financial issues? As a result, they find themselves frequently arguing about money. If you are planning a wedding, here are some steps you can take to get your marriage off to a good financial

26 04, 2018

Where Did My Retirement Go? How to Locate Lost Retirement Benefits

For one reason or another, you may find yourself in a situation where you've lost track of a retirement account like a 401(k) or pension. There are several ways this can happen: • Job change. People change jobs in today's economy much faster than they did in the past, and that means that retirement

18 04, 2018

Know the IRS “Dirty Dozen” Tax Scams

Every year the IRS releases its "Dirty Dozen" list of the year's most prevalent tax scams. They include ploys to steal personal information, talk people out of money, or engage in questionable tax activity. Here are some of the top scams: • Phishing. Fake emails or websites claiming to represent the IRS, for the