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Amazon and eBay Sales Tax ALERT!

If you or your business sells product on Amazon using the Fulfillment by Amazon (FBA) service, you are well into the multi-state sales tax mess … even if you are not aware of it. You may be asking yourself: Do I now need to register my business with every state and collect tax on their […]

Bill Collector Calling? Know Your Rights

Maybe you’re behind on paying your bills because of circumstances outside of your control. Or perhaps there’s been an error in billing. Either way, these scenarios may lead to a run-in with a debt collector. Fortunately, there are strict rules in place that forbid any kind of collector harassment in the U.S. If you know […]

Another Year, Another New 1040

In 2018, the government attempted to “simplify” the tax-filing process by drastically shortening Form 1040. The result was six new schedules that created a lot of confusion. Now the IRS is attempting to ease some of that pain by revising the form and removing some schedules. Will it help? Here is what you need to […]

Tuesday Tax Tips For The Self-Employed

Whether you’re driving for Uber or Lyft in your free time, doing some freelance work on the side or starting your own photography business, being self-employed or working a side gig can be an exciting opportunity full of independence, self-determination and new challenges. The self-employment tax (15.3%) must be paid by self-employed individuals. The Social Security tax […]

Hustling for Extra Income? Don’t Forget the Taxman!

Making side income is easier than ever now with jobs ranging anywhere from ridesharing to delivery services. What a lot of these sites fail to inform you, is the tax implications that come from the additional income. Here are five tips to help you stay on top of your side hustle taxes:   Business or […]

Six Ideas to Help Your Business Survive AND Thrive

If you are like millions of taxpayers trying to make a living running a small business, you know it is tough out there. Here are six ideas to help your business survive and thrive. 1. Understand your cash flow. One of the biggest causes of business failure is lack of positive cash flow. At the end […]

Fraud? Negligence? Know the Difference!

Each year the IRS opens thousands of investigations looking for possible tax fraud. In 2017 alone, the Criminal Investigation (CI) arm of the IRS identified $2.5 billion in potential tax fraud with a 91.5 percent conviction rate. While the IRS takes tax fraud seriously, they also understand that mistakes happen. Here is what you need […]

Keys to Creating a Satisfying Retirement

You’ve done your retirement homework. Your assets are reviewed, you know your financial needs, and your retirement tax plan is in place. Are you ready to enjoy retirement? Probably, but not without a plan to address what happens to many after they retire — boredom. Here are some ideas. Go to school. Many colleges and communities […]

Time to Launch Your Tax Strategy

Consider conducting a final tax planning review now to see if you can still take actions to minimize your taxes this year. Here are some ideas to get you started. Assess your income. Begin by determining how your income this year will compare to last year. Then apply any tax implications this income change may cause. […]

IRS Rules Issued On Paid Family and Medical Leave Credit

The IRS announced that eligible employers who provide paid family and medical leave to their employees may qualify for a new business credit for tax years 2018 and 2019. Notice 2018-71 provides detailed guidance on the new credit in a question and answer format. The credit was enacted in the 2017 Tax Cuts and Jobs Act. The […]