Hands Holding House
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Facing a Huge Gain from a Realty Sale?

If you are contemplating selling real estate property, there are a number of issues that could impact the taxes that you might owe, and there are steps you can take to minimize the gain, defer the gain, or spread it over a number of years. The…
Tax Due Dates
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July 2019 Individual Due Dates

July 1 - Time for a Mid-Year Tax Check Up Time to review your 2019 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties. July 10 - Report Tips to Employer If you are…
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Would a Mid-Year Tax Checkup Benefit You?

If you are inclined to procrastinate until the end of the year or, even worse, until tax-filing season to worry about your taxes, you may be missing out on opportunities to reduce your tax and avoid certain penalties. The following are some…
Retired Couple
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Worried You Don't Have Enough Saved for Retirement? You're Not Alone

According to one recent study, the average retirement age in the United States was 62 years old as of 2017. Currently, the minimum age necessary to collect Social Security is 62, while 66 is largely considered to be "full retirement…
Small Business Startup
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How to Organize Spending Priorities for Your Newer Growth Startup

According to a recent study conducted by U.S. Bank, over 80% of all newly formed businesses that ultimately fail do so due to cash flow problems. If you needed a reason to believe that getting your spending in order and dedicating the…
Woman looking a bill
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What if you want to file your taxes but can't afford to pay them?

It’s a common conundrum: You want to file your taxes on time, but you anticipate or already know that you will owe money you can’t afford to pay right now. As a result, you put off filing your tax return under the assumption that the IRS can…
Woman with Camera

Hobby or Business? It Makes a Difference for Taxes – Now More than Ever

Taxpayers are often confused by the differences in tax treatment between businesses that are entered into for profit and those that are not, commonly referred to as hobbies. Recent tax law changes have added to the confusion. The differences are: Businesses Entered…
Pic of household help
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Household Help: Employee or Contractor?

Taxpayers often will hire an individual or firm to provide services at the taxpayer’s home. Because the IRS requires employers to withhold taxes for employees and issue them W-2s at the end of the year, the big question is whether or not…
Tax Due Dates
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June Estimated Tax Payments Are Just Around the Corner

June 15th falls on the weekend this year, so the due date for the second installment of estimated taxes is the next business day, June 17, which is just around the corner. So, it is time to determine if your estimated tax payment should be…