Children who are dependents of their parents are subject to what is commonly referred to as the kiddie tax. This generally applies to children under the age of 19 and full-time students over the age of 18 and under the age of 24. The kiddie tax originated many years ago to close a tax loophole…
If you’re a small business owner, you may qualify for a home-office deduction. We explain the qualifications and two methods in this week’s Business Tip.
What distinguishes a business from a hobby? We explain the IRS’ nine factors to consider when making that judgement in this week’s Business Tip.
Determining the tax deduction for a foreign business trip of a self-employed individual that is combined with a vacation can be complicated. We offer pointers in this week’s Business Tip.
According to a recent study conducted by U.S. Bank, more than 80% of all newly formed businesses that ultimately fail do so due to cash flow problems. If you needed a reason to believe that getting your spending in order and dedicating the time to drafting a proper budget for your new startup is important,…
The “Money Talks,” hosts lead a discussion on the options business owners have when selling their business during retirement. They look at the pros and cons of selling internally vs. externally.
Starting a small business can be one of the most exciting and rewarding events in your life. But it can also be extremely stressful. We list 10 questions to ask yourself before you take the leap in this week’s Business Tip.