Independent Contractor vs Employee and 1099
With today’s growing complexity of tax rules, two long-standing issues receiving more IRS and FTB scrutiny and triggering audits are the decision of whether individuals are independent [...]
Making Stock Sales Less Taxing
Patient investors generally have prospered over the long term. Nevertheless, there are many reasons for selling stocks. Knowing the basics can help improve your tax position. Selling shares held [...]
Sizing Up The Standard Deduction
Under the new, as well as prior, tax law, taxpayers can either take a standard deduction or itemize deductions on Schedule A of IRS Form 1040. Typically, tax preparation involves comparing the [...]
No Tax Deductions For Business Entertaining
The good news is that the TCJA of 2017 lowered corporate tax rates from a graduated schedule that reached 35% to a 21% flat rate. The bad news? Many business expenses are no longer tax [...]
Opportunity Zone Update
A beneficial new provision of The Tax Cuts and Jobs Act (TCJA) is a new tax code section creating certain tax advantages through investments in vehicles designated as “Opportunity Funds.” An [...]
Are state and local taxes reasons for relocation?
As many people are all too aware, some states and localities impose higher income and property taxes than others. Residents of high tax areas may have taken some solace by itemizing deductions on [...]
Information on New Tax Plan – Part 2
As a follow up to our newsletter distributed last week, we wanted to provide more information based on further research and analysis since enactment of these tax law changes on December 22. [...]
1099 Forms – Independent Contractor vs. Employee
With today’s growing complexity of tax rules, two long-standing issues receiving more IRS scrutiny and triggering audits are the decision of whether individuals are independent contractors or [...]
Taxable Versus Tax-Deferred Accounts
Some people do all of their investing in an employer-sponsored retirement plan where earnings are untaxed until withdrawn, and perhaps in an IRA as well. Withdrawals are generally taxed at [...]
Information on New Tax Plan
The Tax Cuts and Jobs Act, H.R. 1, agreed to by a congressional conference committee on Friday and expected to be voted on by both houses of Congress during the week of Dec. 18, contains a large [...]
Year-End Tax Planning
President Trump urged far-reaching changes to the Internal Revenue Code. Full details of this plan have yet to be revealed but could lower tax rates for individuals and businesses. As an offset, [...]
Sell High, Buy Low
Studies indicate that savvy asset allocation may lead to long-term investment success. Individuals can find a desired mix of riskier asset classes, such as stocks, and relatively lower risk asset [...]
