Managing your business’s cash flow is about having access to what you need to put your best foot forward today AND to better prepare yourself for challenges that may develop in the future.
Was your 2018 federal tax refund less than normal, or—worse yet—did you owe tax despite usually getting a refund? We explain why it might be time for a payroll tax checkup.
U.S. citizens and resident aliens are taxed on their worldwide income, whether they live inside or outside of the U.S. However, qualifying U.S. citizens and resident aliens who live and work abroad may be able to exclude from their income all or part of their foreign salary or wages, or amounts received as compensation for…
Children who are dependents of their parents are subject to what is commonly referred to as the kiddie tax. This generally applies to children under the age of 19 and full-time students over the age of 18 and under the age of 24. The kiddie tax originated many years ago to close a tax loophole…
If you are buying a new car, are you wondering what to do with the old one? You have several options, some of which have tax implications and some of which don’t. These options include trading the car in with the dealer, selling it to a third party, donating it to a charity, gifting it…
When you sell property you will have a gain or a loss based on your basis. Failure to document may cost you. Read all about it in this week’s Tax Tip.
A married couple can choose to file jointly or separately. Both statuses can result in surprises – some pleasant and some unpleasant. We explain in this Tax Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains the how saving for retirement to a Roth IRA for tax-free retirement funds and saving pre-tax money to a 401(k) can benefit you regardless of what you choose. Read the article here. Disclosures: The investments referenced within this article may currently be traded by Henssler Financial.…
If you’re a small business owner, you may qualify for a home-office deduction. We explain the qualifications and two methods in this week’s Business Tip.
Virtually any loan interest will qualify for the student loan interested deduction if the loan proceeds are used solely for qualified higher-education expense. We explain in this Question of the Week.
