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As you sign the last piece of paperwork to relinquish the property you’ve been working hard to sell for months, and you feel a wave of relief wash over you. However, the feeling is short-lived, as you quickly begin to worry about the tax implications of your windfall. This is a reasonable concern, as the …
1031 Exchange: What Real Estate Investors Need to Know Read More »
Did you know that probate can take a good 3 to 7% of an estate’s value? This is because the court proceedings are lengthily and therefore costly, thus reducing the amount your beneficiaries stand to inherit. Fortunately, there are ways to minimize this impact, such as utilizing a trust. A trust is a separate legal entity that …
What Is a Revocable vs Irrevocable Trust in Estate Planning Read More »
Introduction Is the fear of financial tracking and recordkeeping holding you back from starting your side hustle? Or maybe you’ve been in operation for a few years but you’re struggling to understand how to organize your books and records. In years past our only option was paper and pen, but as technology has evolved, we’re …
Imagine spending hours of your precious time counting beans the old-fashioned way, hard keying transactions one by one into a double-entry ledger. Or even worse… an archaic, make-shift accounting system you devised that “works for you”, but leaves you scrambling as tax season approaches. Or maybe it doesn’t work as well as you think, and …
Individual Income Tax Update—Tax Year 2022 Taxes, they’re never fun. Every year we have to shell out a chunk of our hard-earned money to the government, and it can be frustrating not knowing exactly how much you’ll owe until it’s time to file your return. But while paying taxes may not be anyone’s favorite pastime, …
How to Calculate and Pay Your Estimated Individual Income Taxes It’s mid-February and you’ve finally managed to gather all of your tax data and send it in to your accountant. You know you had a small refund the prior year and that you received approximately the same amount of income this year, which is why …
How to Calculate and Pay Your Estimated Individual Income Taxes Read More »
Managing a business is a massive task, made up of many little ones that consume your time. With so many moving parts, it’s easy for the to-do list to fall out of control, and the constant stress of trying to keep up can increase mistakes and catalyze burnout. It may be time to consider outsourcing …
Outsourcing Payroll – Top 8 Benefits to Your Business Read More »
It’s no secret that retaining employees can be a challenge for businesses. In today’s competitive marketplace especially, good employees are in high demand, and it can be difficult to keep them from jumping ship to a competitor. Plus, replacing an employee often is not a fun task. Not only do you have to go through …
Every business owner should maintain well-organized financial records, but for a law firm, the stakes are especially high. As in other industries, clean, detailed books help the law practice to thrive and grow. They allow owners to better understand their financial position and plan for the future and give banks and other potential lenders confidence …
Importance of Accounting & Bookkeeping Services for Law Firms Read More »
When you think about the traditional nine-to-five job, what comes to mind? A suit and tie? An office with a view? Or, maybe you think about the grind of the daily commute and the politics of working with a team. Whatever your perception, there’s no doubt that for many people, the traditional job is not …
Implications of Self-Employment-Benefits, Drawbacks, and Considerations Read More »