Here are five year-end tax-deduction strategies that apply if you are getting married or divorced, have children who did or could work in your business, and/or have situations where you give money to relatives and friends. 1. Put Your Children on Your Payroll Did your children under age 18 help you in your business this…
As hard as it is to believe that December is here and 2018 is nearly over, it’s the truth. For a lot of families, the news on the new tax laws bodes well, but the “experts” on television have made such a fuss that getting the truth out of the buzz words can be extremely…
No matter what you do for a living, all of us have some sort of “retirement” plan in our minds. It might be part-time consulting in your field for a premium or it could be retiring to Lake Havasu and acting like your grandparents did, but planning is key to realizing whatever dream you have…
Most every entrepreneur I’ve ever worked with has the challenge of always wanting to build the next thing and sometimes neglecting to follow up on the current business. But are there hints for when it’s time to build a new idea into a new venture? Absolutely. Here’s some ways to think about when it’s time…
If you’ve ever spoken to a financial planner, he or she may discuss the topic of mental accounting. Most of us manage our budgets this way: We already know where most of our paycheck is going before we even receive it. When the check on the 15th arrives, it’s allocated to the cable bill, or…
In other words, how much do you need to retire comfortably? By now, you’ve likely heard the conventional wisdom: that you should aim to have a nest egg of $1 million to $1.5 million. Or that your savings should amount to 10 to 12 times your current income. For people approaching retirement, those figures might be a source…
The “power of positive thinking” is a popular concept, and sometimes it can feel a little cliché. But the physical and mental benefits of positive thinking have been demonstrated by multiple scientific studies. Positive thinking can give you more confidence, improve your mood, and even reduce the likelihood of developing conditions such as hypertension, depression and other stress-related disorders.…
That story about a woman who returned a Christmas tree to Costco on Jan. 4 “because it [was] dead” – and got a full refund – sure got people talking. Costco gave the woman a refund after questioning her, verifying the purchase on her account, and shaming her “to a small degree,” Fortune reported. This seems to…
You won’t get a Section 199A tax deduction for your cannabis business. But some of the other tax reform changes may make the C corporation a more attractive choice of entity than before (yes, really!). Let’s look at an example. Say the cannabis business has the following financials: Cash Tax Gross Receipts $500,000 $500,000…
Carlos Samaniego, EA, Earned Elite Tax Fellow Designation Redlands, CA – November 09, 2018. Juan Carlos Samaniego, EA, has earned the prestigious Fellow designation from the National Association of Enrolled Agents (NAEA) for completing the three levels of the National Tax Practice Institute (NTPI®). This achievement demonstrates Carlos Samaniego dedication to protecting taxpayer rights and…