New Study on Tax Burdens: How Does Your State Measure Up?
Where you live can have a major impact on your tax bill. If you’re retiring or able to work remotely, you might be thinking about relocating, and taxes can be a major factor in that…
5 Common Business Entities and Their Tax Implications
Choosing the right business entity is one of the most important decisions entrepreneurs make when launching or restructuring a business. The type of entity selected affects how the business is taxed, its administrative complexity, and…
8 Life Events that May Change Your Tax Situation
Life is full of changes, and many significant milestones can affect your tax situation in unforeseen ways. Whether you’re getting married, welcoming a new child, starting a new job or making other changes, it’s important…
Business Owners: Is It Time to Transition Ownership to the Next Generation?
One of the upsides to owning a small business is the chance to provide a financial legacy for your family members to participate in after you exit the business. However, there are federal tax implications…
Real-World Tax Advice for Recent College Grads
New college graduates will face some of the harsh realities of adulthood, including paying taxes, filing their own tax returns and possibly coordinating with their parents to achieve the best overall family tax results. Here…
Dont Let Quarterly Estimated Tax Payment Obligations Catch You Off Guard
If you are self-employed, run your own small business, or have rental or investment income, there’s a good chance you must make quarterly estimated tax payments. These payments include income tax and, if applicable, self-employment…
Tax Options for Vacation Home Owners Who Want to Sell
In many areas, vacation home prices have skyrocketed, along with property insurance costs. If you own a highly appreciated vacation property, is it time to cash out and simplify your life? You could simply sell…
Small Business Owners: Beware of Common Payroll Blunders
Managing payroll can be a major challenge for small business owners, especially as state and federal payroll tax regulations continue to evolve. Missteps in this area aren’t just minor hiccups — they can lead to…
The Lowdown on 401(k) Plan Catch-Up Contributions
How big is your retirement nest egg? Too often, people sacrifice retirement savings to afford a bigger home, cover emergency expenses or pay for their children’s education. But time flies, leaving many retirees “financially fragile.”…
Help Wanted: Hiring Family Members for Tax-Saving Results
If you own a small business and have children in high school, technical school or college, you might consider asking them to work for you part-time or full-time over the summer. Or you might want…