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Tag Archives: cpa

10 Smart Facts About Social Security

1. If you wait until full retirement age to claim Social Security, you are entitled to full benefits.  

  • If born between 1943 and 1954, full retirement is age 66
  • If born between 1955 and 1959, full retirement gradually climbs to
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Make Sure To Factor In Capital Gains When You Sell

WILL YOU PAY CAPITAL GAIN RATES WHEN YOU SELL?

It’s a fact: if you sell capital property like your home or stocks at a gain, you’ll have to pay capital gains taxes.
But the more you know about capital gains, … Continue reading

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How Will My State Apply Capital Gains Rates?

Example:

A two wage-earner married couple  with  two kids have  total salaries of $115,000 and itemized deductions of $35,100.  Total ordinary taxable income is $63,900.

In addition, they have LTCG of $12,000 generated from sales of stock.  The first $11,000 … Continue reading

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MAKE YOUR TAX REFUND WORK FOR YOU

Tax season is well underway, and many of us are already thinking about that refund check. Actually, about 75% of individual taxpayers receive a refund every year at an average of about $2,900. And If you are expecting one this Continue reading

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10 Tips On What To Do With Your Refund Money

1. Establish or Build Your Emergency Fund
An emergency fund is an important means by which to avoid the financial disaster that can result from just one surprising bad set of circumstances. As protection against a job loss, medical emergency … Continue reading

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Should You File For A Home Office Deduction?

It’s not necessarily the Audit Red Flag it used to be.

Many employees and small businesses owners qualify for a home office deduction (HOD), but avoid claiming it for fear of being audited. Is filing for an HOD like painting … Continue reading

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Sales Tax Basics for the Bewildered   

Sales Tax: The Business Enigma

As if you don’t already know, collecting, calculating, reporting and paying sales tax is one of the most confusing and annoying aspects of running a small business. All but 5 states and thousands of … Continue reading

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