Educating Business Owners about Tax Deductions.
Student Loan Debt Forgiven is NOT Taxable
The pause on Federal STudent Loan Programs has been extended until the end of 2022 to give the Department of Education time to get the Student Loan Debt Forgiveness Program in place. As a recap, individuals with federal student loans who meet certain income thresholds...
Underwhelmed by your Tax Preparer?
Underwhelmed by your tax preparer? Now is the time to start interviewing tax professionals to find someone who better meets your needs. Remember, not all tax preparers are created equal. Most have a CPA or EA license but styles and pricing vary greatly. In my opinion,...
Do you have bank accounts in Foreign Countries? The IRS wants to kow about that!
The Internal Revenue Service today reminded us that the extension deadline to file your annual Report of Foreign Bank and Financial Accounts (FBAR) is October 15. Filers who missed the April 15 annual due date earlier this year received an automatic extension until...
Have you been paying contractors who really should be on payroll?
If you have been paying contractors who really behave like employees, then I highly recommend you use the Voluntary Classification Settlement Program to come clean. The IRS and several states have aggressively been pursuing employers who have misclassified workers....
“Ignite Success” with Robert Knop from Assist You Today
On "Ignite Success," Wendy Barlin welcomes outstanding leaders to this uplifting and interesting show, filled with practical advice and tips for business professionals. This week, Wendy spoke with Robert Knop from Assist You Today. To learn more,...
Is your bookkeeping ready for year end tax planning?
It is THAT time of the year again. We are scheduling our year end tax planning meetings. Exciting, frightening and yes necessary! If you don't have your bookkeeping for 2022 updated, NOW is the time. In order for us to do effective income tax planning for you, we...
“Ignite Success” with Vera Jones From Vera’s VoiceWorks, LLC
On "Ignite Success," Wendy Barlin welcomes outstanding leaders to this uplifting and interesting show, filled with practical advice and tips for business professionals. This week, Wendy spoke with Vera Jones From Vera's VoiceWorks, LLC. To learn more,...
A business or a hobby?
I often get calls and emails from clients who want to run their hobby into a tax loss by deducting all sorts of related expenses. Hmnn, well sometimes this works and sometimes it doesnt. So let's dive into what the IRS considers a hobby versus a business. The great...
Special COVID 19 relief BUT file your 2019 and 2020 tax returns before September 30th
The IRS last week reminded individuals and businesses, affected by the COVID-19 pandemic, that they may qualify for late-filing penalty relief if they file their 2019 and 2020 returns by September 30, 2022. The relief, applies to the failure-to-file penalty. The...
Hiring A Players continues to be challenging for small business owners
Don't miss my interview with Jill Lutz. Hiring continues to be a challenge for small business owners who are competing with the big guys on salary and benefits. What can we do differently? Better?