“Tax Quiz - Sell Stock at aLoss to Your Daughter” To get my complete articlewith all the details… Say you bought stock in 2022 for $17,000. In 2024, you sell this stock to your daughter at fair market value for $9,000. What is the loss deduction you may claim on your 2024 tax return? Answer Correct answer: $0. You may not deduct this loss because you made the … [Read more...]
Navigate Your S Corporation Vehicle Reimbursement with Ease!
"Navigate Your S Corporation VehicleReimbursement with Ease!" To get my complete, FREE articlewith all the details… Does your S corporation reimburse you for the business use of your vehicle? If so, it's crucial to understand the ins and outs of reporting when you sell or trade in that vehicle. We've got you covered with expert insights and clear examples in our … [Read more...]
No Mercy When Your CPA Doesn’t File Your Tax Return
“No Mercy When Your CPA Doesn’tFile Your Tax Return” To get my complete, FREE articlewith all the details… Do you use a certified public accountant (CPA), or another tax professional, to prepare your taxes. If you do, you typically count on them to electronically file your return for you. But what happens if your tax pro fails to file your return? That’s when … [Read more...]
Self-employed? Amend Tax Returns for up to $32,220 in Tax Credits
“Self-employed? Amend Tax Returnsfor up to $32,220 in Tax Credits” To get my complete, FREE articlewith all the details… Are you self-employed? If you are, here’s an important question for you? Have you claimed all the COVID-19 family andsick-leave tax credits you’re entitled to? If you haven’t, it can cost you big time! There’s a LOT at stake! If you get … [Read more...]
Your Co-owned Business Probably Needs a “Buy-Sell Agreement”
“Your Co-owned BusinessProbably Needs a “Buy-Sell Agreement’” To get my complete, FREE articlewith all the details… Are you the co-owner of an existing business? Might you be buying an existing business with some other owners? Might you be founding a new business with some other owners? If you are, you should really consider putting a“buy-sell” agreement in … [Read more...]