by angieduran | May 14, 2024 | Uncategorized
Vacation homes in upscale areas may be worth way more than owners paid for them. That’s great, but what about taxes? Here are three scenarios to illustrate the federal income tax issues you face when selling an appreciated vacation home. Scenario 1: You’ve never used...
by angieduran | May 13, 2024 | Uncategorized
Many people dream of turning a hobby into a regular business. Perhaps you enjoy boating and would like to open a charter fishing business. Or maybe you’d like to turn your sewing or photography skills into an income-producing business. You probably won’t have any tax...
by angieduran | May 7, 2024 | Uncategorized
Under the Fair Labor Standards Act (FLSA), many salaried employees are exempt from overtime pay. But not all of them. To qualify as exempt, an employee must primarily perform certain executive, administrative or professional duties and be paid an annual salary that’s...
by angieduran | May 1, 2024 | Uncategorized
Social media can connect people and information from all over the globe. Unfortunately, sometimes people provide bad advice that can lure good taxpayers into trouble. Taxpayers need to be wary of trusting internet advice, whether it’s a fraudulent tactic promoted by...
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