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Want to turn a hobby into a business? Watch out for the tax rules Want to turn a hobby into a business? Watch out for the tax rulesIndividuals

Want to turn a hobby into a business? Watch out for the tax rules

Like many people, you may have dreamed of turning a hobby into a regular business.…
Diana
DianaApril 26, 2022
The tax mechanics involved in the sale of trade or business property The tax mechanics involved in the sale of trade or business propertyBusiness

The tax mechanics involved in the sale of trade or business property

There are many rules that can potentially apply to the sale of business property. Thus,…
Diana
DianaApril 26, 2022
Leveraging internal audits Leveraging internal auditsAccounting

Leveraging internal audits

Many companies have an internal audit department that tests whether the organization is accurately reporting…
Diana
DianaApril 26, 2022
Tax considerations when adding a new partner at your business Tax considerations when adding a new partner at your businessBusiness

Tax considerations when adding a new partner at your business

Adding a new partner in a partnership has several financial and legal implications. Let’s say…
Diana
DianaApril 26, 2022
Thinking about converting your home into a rental property? Thinking about converting your home into a rental property?Individuals

Thinking about converting your home into a rental property?

In some cases, homeowners decide to move to new residences, but keep their present homes…
Diana
DianaApril 26, 2022
Goodwill in a bad economy Goodwill in a bad economyAccounting

Goodwill in a bad economy

In today’s volatile economy, many businesses and nonprofits have been required to write down the…
Diana
DianaApril 26, 2022
Need extra hands? Try local companies Need extra hands? Try local companiesNonprofit

Need extra hands? Try local companies

If your not-for-profit is trying to fulfill its mission with less volunteer help these days,…
Diana
DianaApril 18, 2022
Offering summer job opportunities? Double-check child labor laws Offering summer job opportunities? Double-check child labor lawsBusiness

Offering summer job opportunities? Double-check child labor laws

Spring has sprung — and summer isn’t far off. If your business typically hires minors…
Diana
DianaApril 18, 2022
Once you file your tax return, consider these 3 issues Once you file your tax return, consider these 3 issuesIndividuals

Once you file your tax return, consider these 3 issues

The tax filing deadline for 2021 tax returns is April 18 this year. After your…
Diana
DianaApril 13, 2022
Tax issues to assess when converting from a C corporation to an S corporation Tax issues to assess when converting from a C corporation to an S corporationBusiness

Tax issues to assess when converting from a C corporation to an S corporation

Operating as an S corporation may help reduce federal employment taxes for small businesses in…
Diana
DianaApril 13, 2022
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