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...
by Lori Bowden | Jun 1, 2024 | Tax & Accounting
Scam artists seek new ways to steal financial data and money from vulnerable people in any season. Such fraudulent activities often target older adults. Here are three ways to help prevent elder financial abuse and fraud, whether you’re in this age bracket or you...
by Lori Bowden | May 4, 2024 | Tax & Accounting
If you employ a household worker who isn’t an independent contractor, you may be required to pay employment taxes on the worker’s cash wages. This is commonly referred to as the “nanny tax.” In 2024, when a household employee’s cash wages reach at least $2,700, you...
by Lori Bowden | May 2, 2024 | Tax & Accounting
If you received a large refund this year, you may want to adjust your withholding. Each year, millions of taxpayers claim an income tax refund. To be sure, receiving a payment from the IRS for a few thousand dollars can be a pleasant influx of cash. But it means you...
by Lori Bowden | May 1, 2024 | Tax & Accounting
If you’re a small-business owner and you hire your children this summer, you may be able to secure tax breaks and other nontax benefits. The kids can gain bona fide on-the-job experience, save for college, and learn how to manage money. You may be able to shift some...
by Lori Bowden | Apr 4, 2024 | Financial Planning, Tax & Accounting
Payable-on-death (POD) accounts can be a quick, simple and inexpensive way to transfer assets outside of probate. They can be used for bank or credit union accounts, certificates of deposit and even brokerage accounts. Setting up such an account is as easy as...
