by | Sep 14, 2015 | Accounting & Bookkeeping, Business Profit & Cash Flow Tips, Cash Flow, Income Taxes, Sales & Marketing, Small Business Owners, Small Business Success Series
Who in their right minds want to GIVE their money away to Uncle Sam? Not I! But it’s amazing how many businesses owners give money to the taxman unnecessarily or unknowingly. Imagine how much cutting taxes can affect your bottom line! Cut Your Taxes in Half in 6 Easy...
by | Sep 3, 2015 | Accounting & Bookkeeping, Books, Business Profit & Cash Flow Tips, Income Taxes, Personal financial planning, QuickBooks, Small Business Owners
Under the hobby loss rules you can’t deduct expenses in excess of income, so no loss is allowed. A recent tax court case (Akey, TC Memo 2014-211) involved a collector of sports memorabilia who also was a full-time quality assurance engineer. On his tax...
by | Jan 15, 2015 | Current Affairs, Income Taxes, ObamaCare, Personal financial planning
How does an individual file for an exemption? There are two ways to request an exemption. The first way is through the state Health Insurance Exchange. These exemption requests will be reviewed by the residing State exchanges. If the exemption is...
by | Jan 14, 2015 | Current Affairs, Income Taxes, ObamaCare, Personal financial planning
Who is exempt from paying the Health Insurance Penalty for not being insured? Just because you don’t have insurance doesn’t mean that you will have to pay the penalty. The law provides many ways to be exempt from any potential fines due. Since 2014 is...
by | Jan 13, 2015 | Current Affairs, Income Taxes, ObamaCare, Personal financial planning
Health Insurance Tax Penalties: How will they be determined and paid? The first penalties will be reported on your 2014 tax return that will be filed in 2015. The penalty will be determined by calculating the greater of either a flat dollar amount or a set...
by | Jan 12, 2015 | Income Taxes, ObamaCare, Personal financial planning
What qualifies as Minimum Essential Coverage? In order to avoid the tax penalty, each person in your family must have "minimum essential coverage”. A person will be considered to have minimum essential coverage for any month they are legally...
