by briesterer | Oct 2, 2023 | Financial Planning, Tax & Accounting
The IRS issued a notice on September 14th, 2023 ordering an immediate stop to processing all new claims for the Employee Retention Tax Credit (ERTC). This comes amid a surge of questionable claims and concerns about aggressive marketing to ineligible taxpayers. Here...
by briesterer | Jul 7, 2023 | Financial Planning, Tax & Accounting
Home equity represents a significant portion of the average retiree’s wealth. If you’re 62 or older and house-rich but cash-poor, a reverse mortgage loan allows you to convert part of the equity in your home into cash – without having to sell your...
by briesterer | Jul 6, 2023 | Financial Planning, Tax & Accounting
At some point, most small business owners will visit a bank or other lending institution to borrow money. Understanding what your bank wants and how to approach it properly can mean the difference between getting a loan for expansion or scrambling to find cash from...
by briesterer | Jul 5, 2023 | Financial Planning, Tax & Accounting
Hobby activities are a source of income for many taxpayers. As a reminder, this income must be reported on tax returns. But the reporting rules are different than for income from a for-profit business. For one thing, hobbyists can’t deduct their hobby expenses....
by briesterer | May 19, 2023 | Financial Planning, Tax & Accounting
As a reminder, individuals with “seriously delinquent tax debts” could have their passport application or renewal denied or even have their current passport revoked, courtesy of the Fixing America’s Surface Transportation (FAST) Act, signed into law...
by briesterer | May 18, 2023 | Financial Planning, Tax & Accounting
Many parents are looking for ways to save for their child’s education, and a 529 Plan is an excellent way to do so. Even better is that thanks to the passage of tax reform legislation in 2017, 529 plans are now available to parents wishing to save for their child’s...
