Tax Advantages and Disadvantages of Owning Rental Properties
Tax expert Dan DiLuzio, C.P.A. joins “Money Talks” to provide the tax advantages and disadvantages of owning rental property.
Tax Strategist: Independent Contractor vs. Employee Status: A New Focus of the IRS
If you are a small-business owner, whether you hire people as independent contractors or as employees will affect the amount of taxes you withhold from their paychecks, as well as how much and what types of taxes you pay. Read this Tax Strategist for more.
Do You Need to File a Tax Return This Year?
If you are not required to file a tax return, there are reasons you may still want to file including refundable credits. Read more on the IRS Website.
Game Show Winners and Taxes
If you dream of being on a game show, you should first be aware of the potential tax nightmare before you apply. Learn more in this week’s Tax Tip.
Section 179 Expensing and Bonus Depreciation Revised Down for 2012
Public Accountant, Wendy McCullough joins “Money Talks” to remind business owners about the reverted limits for Section 179 expensing and bonus depreciation.
Amended Tax Breaks for Georgia’s Senior Taxpayers
Certified Public Accountant Tammie Hendricks joins Bil Lako, CFP® and Ted Parrish, CFA announcing good news about increased tax breaks for Georgia’s seniors.
Understanding Your Payroll Check Stub
Your paycheck stub often contains a wealth of information that can help you plan your budget and calculate tax projections. Occasionally, employers will also include personnel information, such as, vacation or sick leave. For more information on the information contained on your payroll stub, read this C.P.A. Insight.
Gift Tax Returns
If you’re feeling overly generous, you could pay your granddaughter’s college tuition, pay for her rhinoplasty and give her $13,000 all in one year without gift tax consequences. If you’re feeling this generous read this C.P.A. Insight article to find out how to avoid gift tax and when you will need to file Form 709 U.S. Gift Tax Return.
2011 IRA Contribution Limits
There are several qualifications to make a contribution to either a Roth or a Traditional IRA. The first is that you must have earned income. Whether married filing jointly, or a single individual, there are income and contribution limits for both types of IRAs. For more information about the 2011 IRA contribution limits and laws regarding them, read this Financial Strategy.
Top Ten Common Income Tax Errors
"Money Talks" host Bil Lako, CFP®, shares the top 10 most common mistakes taxpayers make when filing their income tax returns.