by Pierre Philantrope | Oct 2, 2024 | Tax Tip
Does your business classify workers as independent contractors instead of employees? You should know that the U.S. Department of Labor is trying to make it harder for all businesses to use independent contractors. The Department of Labor enforces the Fair Labor...
by Pierre Philantrope | Sep 18, 2024 | Tax Tip
Your decision to start a business should start with tax planning. You need to meet with a tax professional to discuss your decision to start a business, to purchase a business, or to purchase a franchise. This should be the most important step. As a potential business...
by Pierre Philantrope | Sep 11, 2024 | Tax Tip
In Eason v. Commissioner, T.C. Summary 2024-17, the Tax Court held that the Internal Revenue Service properly disallowed deductions resulting from expenses taxpayers claimed in connection with a real estate business because by the close of the year at issue the...
by Pierre Philantrope | Aug 14, 2024 | Tax Tip
Many married couples usually ask the question: Should we jointly file our tax return or should we file separately? The answer: It depends. Taxpayers financial circumstances could be very different. There are many factors to consider to determine the filing status...
by Pierre Philantrope | Jul 17, 2024 | Tax Tip
Early withdrawals from a traditional IRA before age 59 1/2 generally incur a 10 percent penalty tax on the taxable portion of the withdrawal. There are several exceptions to this rule that can help you avoid the penalty under specific circumstances. I have outlined...
Recent Comments