Telecommuting offers employees the opportunity to work from home, while employers can enjoy paying for less office space. However, if you are fortunate enough to be able to telecommute, there are some tax implications you should consider. For more information on deductible telecommuting expenses, read this C.P.A. Insight.
A company-provided automobile makes for a wonderful non-cash fringe benefit. However, personal use of the auto can create undesirable tax implications. For details on how to minimize the benefit that is subject to income tax, read this C.P.A. Insight.
While bond funds are appropriate for some investors, many who invest in bond funds may be missing out on two key characteristics that owning a bond provides: a fixed yield and a contractual maturity date. For more information on the differences between bonds and bond funds, read this Investment Whys.
With students preparing to leave home for school, now is a good time to introduce your college students to creating a budget. It is important for your children to view a budget as a tool that will help them save for large expenditures like a Spring Break trip, rather than a method of control by you. For more information on budgets for college students, read this C.P.A. Insight.
There are several scenarios that would make a non-deductible IRA contribution useful to an investor. These include low capital gains tax rates and a strategy involving converting an appreciated account to a Roth IRA. For more information on how a non-deductible IRA contribution may benefit you, read this Financial Strategy.
Long-term care insurance has evolved into a product that supports aging or ill individuals staying at home or living in a facility when full-time care is necessary. Long-term care policies have a variety of options, riders and eligibility requirements that need to be carefully considered. For more need-to-know information about long-term care insurance before you consider purchasing a policy, read this Insurance Know-How.
Henssler Financial follows a strict investment philosophy for all investors. When it comes to equity investments, we suggest only investing money you will not need within the next 10 years in high quality, individual common stocks that fall within a strict investment criteria. For more details on how we choose individual common stocks, read this Financial Tip.
The Investment Interest Deduction: Will You Get Your Deduction This Year? Margin Account Holders May Be In For a Surprise
The Internal Revenue Code allows investors to borrow money to make an investment, and to deduct that interest to the extent of their net investment income. However, many investors find that their investment income is treated as Qualified Dividend Income, which receives preferential tax treatment. For more information on why these investors cannot take an investment interest deduction, read this C.P.A. Insight.
Great-uncle Harry passed away and left you a fortune in coins. What a windfall! However, later you find out the coins are rare antiques and no longer U.S. currency. If you find yourself in a situation where you want to sell a rare coin collection and need to know how to obtain a fair and reasonable price, read this Financial
You traveled to Aspen to sign a contract with a client on Thursday, but you stayed until Sunday to enjoy some time on the ski slopes to celebrate the deal. Before you write the entire trip off as a business expense, there are a few circumstances that need to be examined before determining deductibility. For more information on trips that mix business with pleasure, read this C.P.A. Insight.