In our files, we show that you have a self-employed business that you file on Schedule C of your Form 1040. As you likely know, in times of economic dislocation such as the COVID-19 pandemic, the self-employed get no special government help. For example, you generally do not receive benefits that employees get, such…
The PayPal loophole is going away in a little over six months from now. You may remember the strategy where you can avoid giving 1099s to contractors and vendors when you use PayPal or a similar service as your payment platform. With this strategy, you push the reporting requirements to PayPal. Current federal law requires…
In this month’s Issue of my Cashflowaire newsletter, I wrote about protecting the purchasing power of your savings. This article highlights the massive amount of money printing and possible implications. Here is must read article: https://thehill.com/opinion/finance/508046-judd-gregg-when-the-dollar-is-worth-60-cents If you like a free issue of my cashflownaire newsletter go to: https://carlossamaniego.com/FreeCashflow Until next time, Carlos Samaniego, EA …
Here’s good news: the properly used business vacation home or condo does not suffer from the vacation-home rules, the passive-loss rules, or the entertainment-facility rules. In these days of COVID-19, you may have solid reasons to use your vacation home or condo for two purposes only: personal pleasure, and business lodging. How Business Use Escapes…
For the last couple of years, I have been watching a Youtube Channel called Trout and Coffee. There something so relaxing and stressfree about watching these videos. I wake up in the morning with a cup of coffee and just watch a video or two. My form of mediation. If you need to get away…
The IRS has provided clarity on the capital gains component of the Section 199A tax deduction.
If you don’t understand the right definition of a salary, keep reading to find out everything there is to know.
Investing strategies are like food diets: The best strategy is the one that works best for you.
Here is everything you need to know about how to sort out your retirement plan.
Here are two ways to possibly reduce taxes in retirement while extending the life of your nest egg by being smart about which accounts you tap first.