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With plentiful opportunities for teen employment this year, now is the perfect time to consider opening a Roth IRA for your minor child. Here’s what you need to know. What is a Roth IRA? A Roth IRA is a type … Read More

Taxes are probably not what comes to mind when thinking about Summer, but you may be surprised at some of the ways you can reduce your 2022 income taxes.  Consider these summertime strategies: 1.) Tax-free rental income If you rent … Read More

The Internal Revenue Service will raise the optional standard mileage rate for the final six months of 2022 to help offset the rise in gas prices nationwide. The new rates to calculate the deductible costs of operating an automobile for … Read More

Fraud is nothing new…it has been around for about as long as money has been in use. But the last few years have seen a rapid rise in the type, volume, amount, and impact of fraud on everyday consumers. With … Read More

Venmo and other payment apps are becoming a popular way to pay contractors. We talked about the “1099-K exception” in the last post, where if you pay someone via a “third-party processor” you do NOT need to issue a 1099 … Read More

Bookkeeping is the regular recording of financial transactions and information pertaining to a company’s activity. It is the methodical recording of a company’s financial transactions. It guarantees that financial transaction records are up to date, correct, and complete. Individuals or … Read More

Almost everyone has heard about identity theft, and certainly have seen news articles about company database breaches and hacked bank accounts. Most recently, the SBA reported millions of dollars awarded to nonexistent businesses from “fake PPP loan applications.”   Information … Read More

DIY or “do-it-yourself” activities are meant to save time and money by doing tasks you’d typically hire a professional for. Unfortunately, DIY projects can lead to more losses than financial benefits, especially when it comes to big jobs like preparing … Read More

Let’s be honest, debt gets a bad rap. However, almost two-thirds of all small businesses have it. Sometimes, having small business debt can help you expand and grow your business, so it isn’t always the big bad wolf you might … Read More

The home office deduction allows you to deduct any portion of your home that is used as your office. Even just a nook or corner could serve as your home office. To qualify, your home must generally serve as a … Read More