Summary: Recent guidance from the IRS highlights the tricky nature of advertising costs. Some peripheral expenses are deductible, in fact, while a few seemingly acceptable ones are not. Click through for the details on advertising deductions. In a recent release, the IRS reiterated that the tax law allows businesses to deduct advertising and marketing costs as […]
Summary: Many people think that tax deductions and credits are the same, but they’re not. Tax deductions reduce your taxable income, but tax credits reduce your tax bill dollar for dollar. Click through to find out what that means and when it matters. Tax deductions and tax credits can both help you, but that doesn’t mean […]
Summary: When you hire diverse people, you demonstrate inclusion, which helps both employees and employers. Click through to see how you can increase workplace diversity by acknowledging bias and taking strong action to create a company that respects and celebrates differences. When you hire people of different ethnicities, cultural backgrounds, sexual orientations and genders, […]
Summary: Are you part of a blended family? You will have special estate planning challenges, both financial and emotional. Click through for some tips on creating a plan that is equitable and makes sense for your situation. If you’re in a second marriage, you and your spouse may both have children from previous relationships. You don’t […]
Summary: Everyone knows standard paychecks are subject to tax withholding, but other kinds of payments may be subject to withholding as well. Click through for an introduction to withholding rules that affect both payer and payee. Payments such as fees to an independent contractor — as opposed to an employee — are not typically subject to […]
Summary: Few business tax issues are as confusing or as subject to misunderstanding as what you can deduct. Mistakes can lead to wasted money and serious legal trouble. Click through for an introduction to what is and what is not deductible. When you’re filing your tax returns, what expenses can you deduct from business income? It’s […]
Summary: IRAs are tax-favored personal savings accounts that set aside money for retirement. Most people have heard of them, but not everyone knows the tax details. Click through to make sure you understand how the tax advantages work. IRAs — individual retirement arrangements — are among the most popular retirement savings vehicles. They can be used […]
Summary: Tax years are based on annual accounting periods in which you keep records and report income and expenses. A tax year may not be a calendar year. Click through to discover the myriad annual accounting periods you may or may not adopt. A tax year is an annual accounting period for keeping records and reporting […]
Summary: You can refinance a home to save money or make it easier to pay your monthly bills. But it can be tricky to figure out when a refi makes sense. Click through for details that will help you make the right financing decision. When you refinance, you get a new mortgage to pay off your […]
Summary: Is the lure of taking your company public becoming irresistible? Maybe it’s time, but there’s a lot to think about first. Click through to read an introduction to this complex and risky step so you know what you’re getting into. If you own a business, you may find yourself imagining that moment when […]