Owe the IRS Money? How Long Do They Have to Collect?
Have you ever wondered how long the IRS has to question and assess additional tax on your tax returns? For most taxpayers who reported all their income, the IRS has three years from the date of filing the returns to examine them.
Too Many Transactions in QuickBooks Online? Create Rules
It’s important to categorize transactions, but it takes time. If every day brings several dozen into QuickBooks Online, you can automate this process.
3 Things to Consider Before Buying a Vacation Home
The COVID-19 pandemic in 2020 led to a surge in demand for vacation/second homes. If you are thinking about buying a vacation home, we cover 3 things to consider before taking the plunge.
Federal Student Loan Repayment Postponed for Sixth Time
The U.S. Department of Education announced a record sixth extension for federal student loan repayment, interest, and collections, through August 31, 2022. We explain what this means for you.
Why Employee Classification is of Paramount Importance
There are a few major reasons why someone might prefer a salaried position over an hourly one. No, they aren’t going to receive overtime pay like their hourly employees, but they do have access to certain benefits that their counterparts don’t.
Balancing Work and Family
Balancing work and family is a personal endeavor—there is no magic formula. You’ll need to make choices along the way that align with what’s important to you.
Tax Issues That Arise When Converting a Home into a Rental
The benefits of turning your home into a rental include cash income, tax write-offs, and most of all, long- term appreciation of the property. Before you place the “For Rent” sign, consider the tax consequences.
Is the Russia-Ukraine War a Threat to the Global Economy?
Russia and Ukraine account for only about 2% of global gross domestic product, but high energy prices and supply shocks caused by the war could have a far-reaching impact on a global economy that has not fully recovered from the pandemic.
Inheritances Enjoy a Special Tax Benefit
If you sell an asset you purchased, you will likely have to pay taxes on the gain. However, if you sell an asset you inherited, any gain may receive a beneficial tax treatment.
There’s a Lot You Can Get Wrong With Business Budgeting
You have goals that you’ve set for your business. You need to make sure that you’re financially in a position to do that, and business budgeting is how you do it.