by Lori Bowden | Jul 4, 2024 | Tax & Accounting
Many businesses use independent contractors to help keep their costs down and provide flexibility for short-term needs. But the question of whether a worker is an employee or an independent contractor is complex. Be careful that your independent contractors are...
by Lori Bowden | Jul 2, 2024 | Tax & Accounting
As rents continue to rise in many areas, you may decide to help your financially challenged family members by renting a property to them at a discount. But this can lead to the loss of significant tax deductions. Here’s a look at the tax treatment that applies...
by Lori Bowden | Jul 1, 2024 | Financial Planning, Tax & Accounting
Health Savings Accounts (HSAs) are tax-advantaged savings vehicles for funding health care expenses not covered by insurance. And for those in relatively good health, they also may serve as attractive retirement savings vehicles. To be eligible to contribute, an...
by Lori Bowden | Jun 4, 2024 | Tax & Accounting
Under the Corporate Transparency Act (CTA), many businesses are subject to new reporting requirements that took effect on January 1, 2024. That means certain companies are required to provide information related to their “beneficial owners,” that is, the individuals...
by Lori Bowden | Jun 3, 2024 | Tax & Accounting
Among the many challenges of parenthood is childcare for kids when school lets out. Babysitters are one option, or you might consider sending them to a day camp. There’s no one-size-fits-all answer, but if you do choose a day camp, you could be eligible for a tax...
by Lori Bowden | Jun 2, 2024 | Tax & Accounting
If you check the Internal Revenue Code, you may be surprised to find that most business deductions aren’t specifically listed there. For example, the tax law doesn’t explicitly state that you can deduct office supplies and certain other expenses. Some expenses are...
