by Paula Kennedy, EA | Jul 18, 2024 | Uncategorized
Divorce entails difficult personal issues, and taxes are probably the farthest thing from your mind. However, several tax concerns may need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made. Here are...
by Paula Kennedy, EA | Jul 3, 2024 | Business, Tax, Uncategorized
If you own a closely held corporation, you can borrow funds from your business at rates that are lower than those charged by a bank. But it’s important to avoid certain risks and charge an adequate interest rate. Basics of this strategy Interest rates have increased...
by Paula Kennedy, EA | Jun 25, 2024 | Blog, Business, Tax, Uncategorized
With school out, you might be hiring your child to work at your company. In addition to giving your son or daughter some business knowledge, you and your child could reap some tax advantages. Benefits for your child There are special tax breaks for hiring your...
by Paula Kennedy, EA | Jun 5, 2024 | Business, Tax, Uncategorized
The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are adjusted each year, based on inflation, and the adjustments are announced earlier in the year than other inflation-adjusted amounts,...
by Paula Kennedy, EA | May 29, 2024 | Blog, Tax, Uncategorized
There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person’s life and allowing the person to receive quality care. In addition, you could also be eligible for tax breaks. Here’s a rundown of four...
