COVID-19 has made estate planning even more complicated. This post discusses the three basic areas to review as you reassess your estate plan, including the tax strategies that have become more advantageous because of the current financial and economic environment....
Debtors considering bankruptcy must make some difficult decisions before and during the bankruptcy process. This article explains the key steps individuals can take that may make bankruptcy unnecessary. Those more deeply in debt may find they need to consider either a Chapter 7 or Chapter...
Updated IRS rules offer guidance for deductible expenses which may have been murky as a result of the Tax Cuts and Jobs Act.
The rules being updated involve using optional standard mileage rates when figuring the deductible costs of operating an automobile for business, charitable, medical...
When should you revise your tax withholding? If you receive a large refund from the IRS when filing your income tax return, or owe the IRS a substantial amount when filing, you should consider adjusting your withholding....
If you're an entrepreneur and you've heard other business owners talking about the qualified business income deduction (also called Section 199A), you're probably asking yourself, “Should I incorporate to help save on taxes?” and “What entity should I select?” This post discusses the factors you need...
Myths and misconceptions about estate planning abound. This post shares the most common mistakes to avoid and help your family save thousands of dollars in unnecessary taxes and probate fees....
Many banks and alternative lenders are out there vying for your attention. Once you decide on a lender, what's next? This post presents the steps you need to take to obtain your business loan....
Box 1 of Form W-2 shows the employee's total compensation that is subject to taxation for the year. Per an article published by Forbes, "This tends to be the number most taxpayers care about the most." Consequently, there's no room for error.
Learn what goes in...
The earlier you start planning your estate, the more choices you'll have. If you start now, your plan will help keep your loved ones from becoming stressed if you suddenly become disabled or pass away. This post discusses some important factors to consider to help you begin...
This post explains why you should follow a tax-saving strategy that considers designating your favorite charity or charities as beneficiaries of all or a portion of your IRAs. Then you can leave other assets to family members and other heirs....
