Tax Tips for Students with a Summer Job
Many students hold a summer job during their time off from school. Here are some tax issues that should be considered when working a summer job.
Business Growth: How to Plan for (and Make the Most of) This Critical Stage
In between the start-up phase and a mature business is the growth phase that provides an exceptional opportunity to grow from the business you’re running into the one you hoped you’d be in charge of when you started.
From Joint Ownership to Installment Sale: How an Investor Overcame Tax Hurdles
Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Tax Manager Jessie Thomas, CPA, and Managing Associate D.J. Barker, CWS®, to discuss an investor who wants to sell her late mother’s house in an installment sale to control capital gains. The experts look at the benefits of such an arrangement and how this would affect her financial plan.
SECURE 2.0 Act Expands Early Withdrawal Exceptions
While 401(k) plans and IRAs are intended to promote long-term retirement savings, sometimes the situation is dire enough to consider an early withdrawal. We look at new penalty-free exceptions created by the SECURE Act 2.0.
Tax Consequences of Crowdfunding
Between sites like GoFundMe, Kickstarter, and Indiegogo. each has its own charges, limitations, and withdrawal processes. Furthermore, both the IRS and the SEC are closely watching the taxability of the money raised.
Financial Planning and Giving: Unlocking the Potential of an Unexpected Windfall
Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Senior Associate Michael Griffin, CFP®, and Associate Peter Lynch to discuss an investor who wants to direct her significant inheritance to charity by creating a lasting legacy.
Worried About Getting Audited? Here’s What You Need to Know About Your Chances
The IRS is expected to receive approximately $80 billion in funding between now and 2031, much of which will likely be used to increase audits in the near future.
Want to Improve Your Cash Flow? Shorten the Amount of Time it Takes to Get Paid
One of the best ways to reduce the amount of time it takes to get paid by clients and other vendors involves asking for payment deposits at the beginning of any new business relationship.
Eldercare Can Be a Medical Deduction
Many individuals are serving as care providers for elderly loved ones, such as parents or spouses, who cannot live independently. The cost of such care may be deductible as a medical expense.
The Gen Z Freelance Movement and the Tax and Bookkeeping Challenges That Come With It
Approximately 50% of all Gen Z respondents to one survey, engaged in freelance work of some kind. Bookkeeping and taxes present significant challenges to those choosing to go down this path.