Few purchases during your lifetime will be as expensive as buying a home. Whether it’s your primary residence, a vacation home or an investment property, how you choose to pay for it can have a significant impact on your financial situation over time. If you’re considering a mortgage loan, understanding the main categories of mortgages [...]
If you own property and a business, there’s an obvious temptation to lease that property to the business. Such an arrangement can make sense from many perspectives. You’re no doubt familiar with the property and its advantages to your company; the deal could be carried out quickly; and the money changing hangs would stay between [...]
Like so many aspects of the national and global economies, merger and acquisition (M&A) activity tends to wax and wane. Nonetheless, billions of dollars continue to change hands annually, and an acquisition can be a great way to grow a business. So if one of these deals comes your way, it’s important to carefully consider [...]
You know that QuickBooks saves a lot of time. But have you explored how it does so by memorizing transactions? Your accounting work involves a lot of repetition. You send invoices. Pay bills. Create purchase orders. Generate payroll checks and submit payroll taxes. Some of the time, you only fill out those transaction forms once. [...]
Married couples don’t always agree – and taxes are no exception. In certain cases, an “innocent” spouse can apply for relief from the responsibility of paying tax, interest and penalties arising from a spouse’s (or former spouse’s) improperly handled tax return. Although it isn’t easy to qualify, potentially affected taxpayers should review the rules. Applicants [...]
Once a relatively obscure concept, income in respect of a decedent (IRD) can create a surprisingly high tax bill for those who inherit certain types of property, such as IRAs or other retirement plans. Fortunately, there are ways to minimize or even eliminate the IRD tax bite. How It Works Most inherited property is [...]