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How to Explain a Roth IRA to Your 25 Year Old

Posted in Tax News on March 24, 2013

  Roth IRA Eligibility To be eligible for a Roth IRA you need to have earned income.  This is typically from wages earned as an employee.  Earnings from self-employment also qualify. The annual contribution is the lesser of your earned…

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How to Form an LLC and Protect Your Assets

Posted in Tax News on March 17, 2013

  A Sole-Proprietorship Many self-employed people will run their business as a sole-proprietorship. They are very easy to set up and cost very little to form. First, decide on a name. For example, John Jones D/B/A (Doing Business As) Prime…

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Where’s My K-1?

Posted in Tax News on March 10, 2013

  This question is asked frequently during tax season. I suspect it will be asked even more this tax season. There will likely be even more delays this year than in past years. Congress passed The American Taxpayer Relief Act…

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3 Proven Reasons a Small Business Should Consider a SEP Retirement Plan

Posted in Tax News on March 3, 2013

A Simplified Employee Pension (SEP) is an employer sponsored retirement plan.   Here are 3 proven reasons to consider this plan.  

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What’s the Difference in Capital Gains Taxes?

Posted in Tax News on February 24, 2013

Capital Assets Capital assets are generally those held for investment.  Stocks, bonds and mutual funds are some examples. If there is a gain on the sale of these assets, a capital gains tax is due.

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