by angieduran | Jan 11, 2024 | Uncategorized
The so-called “kiddie tax” can cause some of a child’s unearned income to be taxed at the parent’s higher marginal federal income tax rates instead of at the usually much lower rates that a child would otherwise pay. For purposes of this federal income tax provision,...
by angieduran | Jan 4, 2024 | Uncategorized
Depreciation deductions Like any type of business, construction companies can generally deduct ordinary and necessary expenses. These may include tools, office supplies, utilities, insurance, wages, training, transportation and travel costs, as well as advertising and...
by angieduran | Jan 2, 2024 | Uncategorized
At some time or another, construction company owners must hang up their hard hats. But what will happen to your business when you retire or move on to the next professional opportunity? And what if you suddenly can’t work for an extended period, because of illness or...
by angieduran | Dec 29, 2023 | Uncategorized
When you retire, you may think about moving to another state — perhaps because the weather is more temperate or because you want to be closer to family members. Don’t forget to factor state and local taxes into the equation. Establishing residency for state tax...
by angieduran | Dec 18, 2023 | Uncategorized
You may have heard of the “nanny tax.” But if you don’t employ a nanny, you may think it doesn’t apply to you. Check again. Hiring a housekeeper, gardener or other household employee (who isn’t an independent contractor) may make you liable for federal income and...
Recent Comments