If you’re within a stone’s throw of retirement — for most folks, that’s somewhere between the ages of 55 and 65 — you’ve probably spent at least a little time dreaming about life after work. But before you turn off the computer and turn in your retirement paperwork, consider three important questions. *What will you do in retirement? If you...
Tags: retirement
Category: Taxes
The impact of the recession has been felt sharply in many states. Some states have been forced to run at a deficit as a result. Given this environment, many states have increased their audit activity with respect to sales and use taxes. There seems to be two issues at the front of this activity; nexus and internet sales. Nexus is...
Tags: multi state taxation
Category: Taxes
Health Savings Accounts (HSAs) have been slow to catch on with the public, but Congress is doing its part to champion their cause. It has tinkered with the law in recent years to make HSAs more appealing. How does an HSA work? Assuming you’re eligible, you can set up an HSA yourself or participate in a plan through your employer....
Most new businesses start with no thought about legal structure. In the eyes of the IRS, the default structure is a “sole proprietor,” in which your business profits are taxed on your personal tax return. This can serve you well to start, but there are several reasons you may want to consider incorporating as your business grows. To protect your...
Tags: incorporate
Category: Taxes