Tag: IRS

5 Small Business Tax Myths

Ed note: There are a few pervasive myths around taxes if you work for yourself or have a side business. Namely, supposed deductions that can’t actually be deducted. Don’t get caught making one of these mistakes next year! Leer en español. 1. Personal Care and Clothing Expenses as Deductions No matter how polished and well […]

5 mitos sobre los impuestos en las pequeñas empresas

Nota del editor: Hay algunos mitos generalizados respecto a los impuestos si trabajas por cuenta propia o tienes un negocio secundario. Por ejemplo, supuestas deducciones que en realidad no se pueden deducir. ¡No cometas uno de estos errores el próximo año! Read in English. 1. Gastos en cuidado personal y ropa como deducciones No importa […]

Five Important Tax Implications of Starting Your Own Business

Ed note: There’s a perception that owning your own business means you get all kinds of tax write-offs. To be sure, there are some tax benefits that are available to you. However, there are also a number of new tax complexities that you must account for. We detail a few of the most important changes […]

How Are Direct Sellers Taxed

Ed note: Do you work at home as an independent distributor for a multilevel marketing company? If you do, you probably understood that sentence. If you’re thinking of being a direct seller of some of your favorite products – maybe it’s Origami Owl, Usborne books or It Works! – then we have some information about […]

Skeletons in Your Tax Closet

Ed note: As we celebrate this scariest holiday, we have one reminder. If you have these tax skeletons in your closet, April 15 might be far more terrifying than Halloween next year. Something taxing this way comes… just in time for Halloween. These are examples of mistakes commonly made with regard to taxes. Now, most people […]

Why Should You Use a 401(k)?

Ed note: You can save for retirement. Or buy that new TV right now. Much of financial planning is about keeping your sights on the long game instead of immediate gratification. It’s not easy, but Ben Edwards is here with some great reasons that kind of thinking will pay off. Leer en español. You may […]

¿Por qué usar un plan 401(k)?

Nota del editor: Puedes ahorrar para la jubilación o comprar ese nuevo televisor ahora mismo. Gran parte de la planificación financiera tiene que ver con no perder de vista el pensar a largo plazo en lugar de la gratificación inmediata. No es fácil, pero Ben Edwards está aquí con algunos excelentes motivos por los cuales […]

What is a 401(k)?

At its core, a 401(k) an investment tool for retirement. It is a type of plan called a “defined contribution plan.” Leer en español. You put money into an account that is then invested in stocks, bonds, money market accounts and more. You work with a company – like Fidelity Investments or Vanguard – to […]

¿Qué es un plan 401(k)?

Esencialmente, un plan 401(k) es una herramienta de inversión para la jubilación. Es un tipo de plan llamado “plan de contribuciones definidas”. Pones el dinero en una cuenta que luego se invierte en acciones, bonos, cuentas de mercado de dinero y mucho más. Trabajas con una empresa, como Fidelity Investments o Vanguard, para seleccionar la […]

About That Tax Return Extension – File Before October 15

Remember way back to April 15. Your friends and family were scrambling. Everyone was talking about returns and refunds and e-filing and so forth. But you were a cool cucumber and filed an extension. The IRS recently said more than 3.25 million taxpayers who filed an extension have yet to file their tax return. Leer en […]