Self-Employed Health Insurance Costs: A Window of Opportunity
If you are a sole proprietor, you may be able to offer health care coverage to your spouse if your spouse is a bona fide employee of your business.
IRS website Designed to Help Students Understand the U.S. Tax System
The “Understanding Taxes” website is designed to teach students about the mystery behind the U.S. tax system.
Settlement Damages
Since the 1996 tax law change, one of the main areas of dispute between taxpayers and the Internal Revenue Service has been the allocation of “damage awards.” When you, the taxpayer, receive a settlement payment for damages, the tax consequences vary, depending on the type of award received.
Reconciling Your Bank Account—Old-Fashioned?
Each month when you receive your bank statement, you should reconcile your checkbook register to your account statement. In this article we provide the steps and tips to keep your account balanced.
Employee and Employer Fringe Benefits
Fringe benefits are one of the overlooked benefits when considering a new job. These might garner you a discount on merchandise or services, or earn you points and rewards that you can use personally.
Budgets with Personal Finance Software
There are free online tools you can use to track your spending habits and keep you in line with your budget.
Like-Kind Exchanges or 1031 Exchanges
A like-kind exchange, or 1031 exchange, is used to defer the capital gain on the exchange of business or investment property for the same kind of property.
Rental Income and Expenses
Owning an rental property comes with some tax implications, and not just the great “tax write-off” you’ve heard about.
Travel and Other Employee Business Expenses
There are plenty of business expenses that are deductible if they are not fully reimbursed by your employer. Recordkeeping for these expenses is important too.
Political Contributions and Expenses Paid by Businesses
A business taxpayer may deduct contributions to organizations other than charities as a business expense provided that the contributions have a direct relationship to the company’s business.