Get Along With Everyone Around You
Success in your business is in part dependent on getting along with the people around you — staff members, bosses, customers, or even the cleaning crew. Ross McCammon’s book, Works Well With Others (Dutton) offers advice on forging positive relations in the workplace. Here are some of his points to ponder: Energize your conversations. Most workplace conversation are about, well, [...]
Rental Arrangements to Lower Your Self-Employment Taxes
As a sole proprietor, you know that the 15.3 percent self-employment tax can eat up your profits in a hurry. You may be able to use a simple strategy to ease this tax burden. If you own an office building or other assets, you can set up a rental arrangement with your spouse that could significantly cut your self-employment taxes. [...]
Simple Rules for Financial Security
Managing your money doesn’t have to be complicated. A few simple steps can help you achieve financial peace of mind. Keep these in mind: Know where your money is going. Track you purchases so you can set up a household budget. You may discover expenses you can avoid, or others you can plan for. Set goals. Whether you’re saving up [...]
Four Benefits of Filing Taxes Early
You don’t have to wait until the last minute to file your taxes, in fact, there is an advantage of doing so, and here are four reasons why you should. 1) Receive your refund sooner. If you are due a refund, it only makes sense to file sooner, rather than later. Besides, why let the IRS hold on to your [...]
Surprise Tax Increase
By now, we all know about the changes, or at least some of the changes that have been brought about because of the Tax Cuts and Jobs Act (TCJA), also known as the new tax surprise include: Cap on state and local tax deductions (SALT)/ $10,000; Elimination of personal exemption; Elimination of miscellaneous itemized deductions; improve your home; benefits. Elimination [...]
2018 Tax Law Changes
There have been many tax law changes in 2018. While all the tax changes will not be covered in this article, we will address tax changes relating to individual taxpayers. - Tax brackets -Standard deduction -Personal exemptions -Expanded Child Tax Credit -529 Savings Plan -State and local taxes (SALT) -Mortgage interest deduction -Charitable Contributions -Medical Expenses -Obamacare Penalties -Estate Tax [...]