Preparing business taxes is not a simple thing to do, even if you are a sole proprietor. Depending on how your business is set up, you may have to file different schedules. If you are a partnership, you don’t file taxes—you file an information return. Self-employed usually file Schedule SE and other types of businesses […]
The Medical Directive is a document better known as a living will. The document allows a person to specify what kind of medical treatments they will allow if they are in a situation where they are unable to voice their wishes. While “living will” is a common name we all know, it is not the […]
Having a Will in place is a fundamental act of kindness toward friends, family and loved ones. Such legal documents provide a detailed account of your wishes and help avoid speculation and disagreement. Despite the loving nature of thoughtfully crafted Wills, organizations such as AARP indicate that as many as 60 percent of Americans polled […]
“Tis impossible to be sure of anything except death and taxes.” It’s a notion that’s normally attributed to Benjamin Franklin. However, the first mention of the idea is from a 1716 book by Christopher Bullock, The Cobler of Preston. Whoever said it first, it remains true; you can’t escape dealing with taxes. Whether you believe […]
Working with an experienced attorney to create a will rarely seems urgent. Few start the day thinking their time is short and then call an experienced attorney to help get your affairs in order.
Whether you are young and single, a parent or entering your twilight years, the time to make a will is now. There […]
2018 is almost up and you are probably looking forward to the holiday with lots of activities. The end of the year is very important to any business as many countries have their financial year run from January to December.
As a business, it’s important that you check if your accounting records reflect what you’ve been […]
It may seem incomprehensible but making a gift out of the kindness of your heart may leave you on the hook for taxes. The IRS expects people who transfer things of value to friends or loved ones to also pay taxes even when you receive no consideration in return.
Before dubbing the IRS the “Scrooge” of […]
We mostly grumble about having to pay the tax man. The government, reeling in debt, paying millions to other countries for aid, comes along and wants to take a chunk of our hard-earned money! What for? We might wonder. Well, there are good reasons why we should be thankful that we pay taxes, for some […]
Between interactive software programs and simplifications to the federal code, filing your taxes may be easier than it has been in decades.
If you’re an hourly or salaried employee, perhaps you can sidestep the cost of hiring professional help. But if you own a business, manage a trust or have multiple investments, filing your taxes may […]
In terms of filing taxes, the world can be broken into four basic groups. There are those citizens who happily pay every April because they believe it is their civic duty. The second group pony up, begrudgingly, because they are responsible Americans. The third class pays because they recognize the ominous power of the IRS. […]