In this unprecedented time of the year, we’re in your corner and we’re ever ready to help! Although we’re LOCKED in, however, we’re still helping our Edison clients, and I have a bunch of things to share with you today, based on recent activity. I will say that, between helping…
The world has shifted under our feet. With the barrage of media, medical, and economic news flying at us, I want to stay in my lane today. You don’t need more medical advice, you don’t need tips on working from home (at least not today — I might share those…
Know what’s in it for you? The Tax Cuts and Jobs Act (H.R.1) was signed by President Trump on December 22, 2017. The most sweeping changes to the U.S. tax code in decades impact virtually every taxpayer. This historic bill calls for lowering the individual and corporate tax rates, repealing…
With the advent of the Sharing Economy, many taxpayers have found a new stream of income with what is also known as the “on-demand,” “gig,” or “access economy.” Websites or online platforms such as Airbnb, Uber, and Lyft are just a few examples of this new income source. Small business…
Starting a small business and being self-employed can give individuals an opportunity to build wealth and a great way to save on taxes. However, this opportunity also comes with great responsibility; such as ensuring total compliance with the tax rules and regulations surrounding self employment. Self-employed individuals normally earn income…
In the USA, this is the time to talk about taxes and the tools or vehicles to manage them. By simply doing certain things, such as contributing to your retirement account, finding deductions, and choosing the right filing status to file under, will make a huge difference in your tax…
Paying taxes after the due dates would have repercussions for the taxpayer because at the end, all of this ultimately adds penalties and/or interests to the tax bill. Paying estimated taxes is something that no one enjoys….Most self-employed individuals would rather do something else than trying to figure out how…
Being your own boss and running your own business can be overwhelming! There are hundreds of things that you need to get done throughout the day and everyone is looking up to you for directions. As a new business owner, you are more likely to wear many hats to get…
Contributing to a health savings account or HSA before you retire can provide various benefits after you turn 65. These plans typically cover just qualified medical expenses, which can be reimbursed tax and penalty free. To determine how to maximize your distributions from your HSA, discuss your current retirement plans…
A fixed deposit is one of the investment vehicles used for investing money for a fixed time period. For this reason, if you want to cash out your fixed deposit before the time of its maturity, you should be prepared to pay the penalty for early withdrawal. This may not…
