For the self-employed, taxes are a huge deal. The total tax on your last dollar of income as a sole proprietor can be over 50 percent. That’s because the top marginal federal tax rate is 35 percent and the Self-Employment, or SE, tax rate is 15.3 percent on every dollar of net profit earned up… Read More

TAX NEWS FEBRUARY 6, 2018 20/20 TAX RESOLUTION If you’re planning on taking an international trip anytime soon, you may want to make certain your taxes are paid in full – or that you have entered into a payment agreement with the Internal Revenue Service for any back taxes owed. If not, your passport could be… Read More

There are four main factors to consider when an entrepreneur decides on the form of organization that best fits her business: taxes, limitation of personal liability, ease of transferability and admission of new owners and investor expectation. In almost all cases, I recommend that a founder form her business first as a limited liability company… Read More

The Justice Department has charged an IRS analyst with leaking confidential information about the banking transactions of Michael Cohen, President Donald Trump’s former longtime attorney, to the lawyer Michael Avenatti. According to a federal complaint unsealed on Thursday, John C. Fry, who works in the IRS’ San Francisco office, downloaded multiple sensitive documents with Cohen’s private banking… Read More

 Here’s What To Do. Unpaid payroll taxes are a serious matter to the IRS and are some of the worst kind of back taxes you can owe. If you’re a small business owner with payroll tax problem, read on to learn what you can do to avoid the IRS crippling your business or worse, shut… Read More

March 2019 Newsletter… Read More

Unpaid payroll taxes are a serious matter to the IRS and are some of the worst kind of back taxes you can owe. If you’re a small business owner with payroll tax problem, read on to learn what you can do to avoid the IRS crippling your business or worse, shut your business down completely.… Read More

Here’s how they work Answers to the most important questions about the Roth 401(k) The new postcard-sized Form 1040. As the name suggests, a Roth 401(k) combines features of the traditional 401(k) with those of the Roth IRA. It’s offered by employers like a regular 401(k) plan, but as with a Roth IRA, contributions are… Read More

Sitting down to do your taxes in the next few weeks – or talking with your tax preparer – will involve tackling the most sweeping changes in the federal income tax rules in more than 30 years. You’ll need to keep in mind that more than 600 rule changes took place under the Tax Cuts and… Read More

Perhaps no other retirement planning tool or strategy has the potential to be as powerful for pre-retirees, and even recent retirees, as Roth conversions. There is a lot of confusion surrounding Roth conversions, but the rules are actually pretty straightforward (and much less complicated than Roth IRA contribution rules and regulations). A Roth conversion is… Read More