Many business operators, regardless of background, are charged with some degree of fiscal oversight. While some may have a basic understanding of the information listed on their company’s financial statements, the majority are not accountants, nor have they had training that covers the detail contained within their financial statements.
Domestic Bliss: What You Need to Know Before You Convert Your Primary Residence to a Rental
Richard Huszai, CPA investments , Taxes - Individual , Richard Huszai, CPAFor many, being in the position to either sell your primary residence or rent the property is a powerful one. Rental income can be a great additional source of income and the investment, if managed properly against the rest of one’s financial portfolio, can contribute to a nice tax shelter.
5 Things Every Small Business Owner Should Do Before Dec. 31.
Richard Huszai, CPA Taxes - Corporate & Business , Business - Management, Issues & Concerns , Richard Huszai, CPA , deductionsFor many small business owners, the fourth quarter signifies a final flurry of activity. Whether that is projecting inventory against sales or contemplating major purchases against anticipated revenue, for those who use QuickBooks software, it may seem as if the program takes care of the business loose ends on their behalf. As a result, business owners view the end-of-year task list as one less thing to think about in the middle of the night.
Summer Wedding? 6 Ways Getting Married Will Affect Your Taxes
Richard Huszai, CPA Taxes - Individual , Richard Huszai, CPA , IRSIt's here. Your summer wedding, long in the planning and preparation phase, has finally arrived. You've spent many months knee-deep in details, from the "will you marry me" or "I will's" to selecting the first song you dance to as husband and wife. You've bickered and resolved the guest list, swallowing your pride to allow crazy Aunt Alice to the reception even though you would rather not, and begrudgingly penning "and guest" to your best friends invitation even though you think their choice is less-than-stellar.
In the end, there is one person who many couples usually forget to include when budgeting for a wedding and finalizing the guest list: Uncle Sam.
Yes, there are tax issues that come along with getting married. Here are six basic tips courtesy of the IRS to help you on your road to wedded bliss:
Both Sides of the Coin: What you need to know if you issue or receive 1099 forms
Zinner & Co. Taxes - Corporate & Business , Taxes - Individual , Richard Huszai, CPADeep into February, I begin to receive two very common questions:
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