Is My Child’s Scholarship Taxable?
The “Money Talks” hosts provide guidance on whether a scholarship is taxable.
Form 5498, IRA Contribution Information
If you’ve received Form 5498 from your custodian and you’re confused as to why you’re receiving tax information nearly two months after you have filed,
Choosing a Business Entity
Going into business for yourself? We provide some wisdom for those trying to choose a business entity.
Is Your Hobby a For-Profit Endeavor?
If an activity is not for profit, losses from that activity may not be used to offset other income. Learn more in this week’s Tax Tip.
How Business Website Expenses Are Deducted
Can you write off your business website? It’s more complicated than you think. Learn more in this week’s Business Tip.
Read This before Tossing Old Tax Records
Filing cabinets are overflowing? Time to start tossing your old financial records. Read this week’s Tax Tip before you start shredding.
Are You an Employee or an Independent Contractor?
Your tax responsibilities differ greatly depending on if you are a independent contractor or an employee. Learn more in this week’s Tax Tip.
Rule 72(t) Allows for Penalty-Free Substantially Equal Periodic Payments from Your IRA Before Age 59½
Certified Financial Planner Jennifer Thomas joins the show to discuss substantially equal periodic payments available from IRAs under Section 72(t) of the Internal Revenue Code.
Tax Planning for the Self-Employed: Shifting Income/Timing Income
If you are self-employed, income shifting can be a valuable tool to lower your taxes. Read more in this Business Tip.
Charity Purchases and Auctions
Paid $500 for a football at a charity auction? Check the estimated value of the item before calculating your tax deduction. Learn more in this week’s Tax Tip.