One of the main changes to the Tax Cuts and Jobs Act is certain tax credits that reduce an individual taxpayers’ liability. While most of the tax credits have, roughly, stayed the same, it is important to understand what credits have changed so taxpayers can properly navigate how to take advantage of those changes. However, [...]
On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (“TCJA”) into law. The TCJA presents a number of changes to previous tax law – some that affect businesses. Here are three things you need to know about the new act and how it affects business profits: Taxation for Pass-Through Entities A [...]
As most Americans are aware, the new tax law, or more formally known as the Tax Cuts and Jobs Act, was recently passed. Since the passing of the tax law, there have been many reports on how this law will affect United States citizens and permanent residents, including citizens living abroad. In these series [...]
2017 – the year was active with hurricanes in the Caribbean. Hurricane Irma made landfall in Florida on Sunday, September 10, 2017 and since then many families in the area are still attempting to recover. Some have already filed hurricane claims with their homeowner’s insurance company, only to be let down by a complete denial, [...]
You have made the decision: you wish to begin your own business. You’ve sorted through the idea of starting your own business as a sole proprietorship, perhaps maybe even a partnership. Of course at some point you may think about other concerns such as how do I get the word out about my business or [...]
Picture this: you cut your finger chopping vegetables. Immediately, you run to your medicine cabinet and treat the cut on your finger: you wash the cut with saline solution in order to disinfect it, add a splash of hydrogen peroxide, rub some anti-biotic ointment, and cover the cut with a bandage. Now, are you ready [...]
Recently, I was in the market for protein bars. I visited several different markets in the search for the perfect protein bar, both price-wise and nutritional value. Not being happy with any of the products I ran into, I decided to take my search online. After some time searching, I ended up purchasing a protein [...]
The Internal Revenue Service (IRS) has implemented a new “Fresh Start” program that helps taxpayers pay outstanding debt and avoid implementation of tax liens. Individuals who owe back taxes on personal income tax, corporate income tax, and payroll tax may all be eligible for the Fresh Start program. But, How does that work? The IRS [...]
Many individuals and businesses who rent a home/apartment or a location at one point have come across the opportunity or have at least contemplated the idea of renting/leasing a room/office in the leased premises to either make some extra money or reduce their overhead costs this is called short term leasing or subleasing. However, while [...]
Many individuals have heard the term power of attorney or POA for short. However, most do not fully understand what it is and how the document functions. A POA is a document used to give another person the authority to handle some responsibilities on your behalf (limited power of attorney) or all responsibilities on your [...]
