Why Increased Tax Basis on Your Home Is a Good Thing
With the house prices continuing to increase, taxes are on the minds of most sellers. When it comes to home ownership taxes, it’s important to…
Is Business Travel Tax Deductible?
What expenses are tax deductible for out of town business business travel within the U.S.? As business travel ramps up, it’s important to know what…
Accounting | Cannabis | Tax
Tax Challenges Facing Marijuana Related Businesses (MRBs)
Key Accounting and 280E Implications for Medical Marijuana Businesses This is a summary of key areas to evaluate for marijuana related businesses and their finance…
Student Loan Cancellation: Impact on Taxes
How does the cancellation of your student loan affect your tax liability? In general, if a loan or other debt you owe is canceled, you…
Selling a Home? Important Tax Facts You Need to Know
Summer is a popular season for families to sell their home and move. The IRS recently issued important reminders for people selling a home and…
Taxes on Sale of Gifted Property: What you need to know
You’ve received a gift of property. It’s important to learn about the tax consequences if you decide to sell that property. In the event of…
Accounting | Consulting | Tax
Installment Sales: Defer Taxes, Attract Buyers
With escalating prices and the era of COVID-19, Installment sales may be a good way to attract buyers even if they don’t the ability to…
Buy-Sell Agreements: Exit Strategy for Small Businesses
As a business owner, you’re often caught up in the daily motion of running your business. It’s easy to let important, but non-urgent aspects of…
Accounting | Consulting | Tax
Closing a Business? Here’s What You Need to Know about Taxes
If you’ve decided to close a business, it’s important to take care of your Federal tax obligations. Company owners can mistakenly think that because the…
Accounting | Cannabis | Tax
Things to Know About Tax Audits—Including Cautions for Cannabis Businesses
This year, the IRS will audit hundreds of thousands of tax returns. One in 100 businesses will be audited. The easiest way to survive a…