From the August, 2019

Tax FAQ Series: I have rental properties, where should I report those?

In almost every situation, it is ideal to report rental properties on a business return, not your personal return (Schedule E). If you have more questions and would like to schedule a free consultation, […]

Tax FAQ Series: How much can I contribute to my IRA, 401K, or SEP?

This amount changes each year. For 2019, the limits are as follows: IRA: $6,000 per person ($7,000 if age 50 or older). 401K: $18,500 per person ($24,500 if age 50 or older). SEP: $56,000 […]

Tax FAQ Series: What is the deadline to contribute to my retirement plan?

IRA/ROTH/401K – The day your tax return is due – usually April 15th. If you filed an extension, then you have until October 15th. SEP – the tax deadline of the employer (check with […]

Tax FAQ Series: Are business & personal taxes the same?

The Tax Code allows you to report business activity on your personal return using a Schedule C or on a separate business return. Either way you’re providing a “Business” return. When you use a […]