- Retired and gambling. The hidden tax consequences.
- You may be unknowingly increasing the tax on your Social Security benefits.
- Hobby or Business? It Makes a Difference for Taxes
- Taxpayers are often confused by the differences in tax treatment between businesses that are entered into for profit and those that are not, commonly referred to as hobbies. The differences are:
- Summer Work For Your Child
- Consider hiring your child during the summer school vacation to work in your business. There are significant tax benefits.
- Elusive Employee Business Expense Tax Deduction
- One major difference between being an employee and being self-employed is how you deduct the expenses you incur related to your work. A self-employed individual is able to deduct expenses on his or her business schedule, while an employee is generally limited to deducting them as itemized deductions.
- Is Solar Energy Right for You?
- It seems like you can’t watch TV these days without being exposed to home solar ads touting free electricity and big tax credits. Be careful, as these savings and tax credits may not be all that they are advertised to be; this depends upon your financial and tax circumstances. Home solar is not necessarily the best option for everyone. Before you take the leap, please take a moment to consider the tax and financial aspects of solar electric systems as they apply to your circumstances. Once you’ve done so, you can make an educated decision.
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