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IRA Loans for Business: Too Good to Be True

  • 14 February 2017
  • Author: Alexander Carr
  • Number of views: 936
  • 0 Comments
IRA Loans for Business: Too Good to Be True
The IRS is proving that, once again, just because it’s possible to borrow money from a retirement account to fund a business, you shouldn’t do so without sound advice. A March 29, 2016, U.S. Tax Court decision has brought this issue back to light and it serves as a reminder to handle self-directed IRA investments very carefully

Magnolia Pancake Haus

  • 2 February 2017
  • Author: Alexander Carr
  • Number of views: 0
  • 0 Comments
Magnolia Pancake Haus
When a friend entrusted Robert Fleming with his family’s buttermilk pancake recipe nearly 30 years ago, he never imaged it would become the centerpiece for one of San Antonio’s most cherished restaurants.

IRS Is Using Private Debt Collectors

  • 31 January 2017
  • Author: Alexander Carr
  • Number of views: 990
  • 0 Comments
IRS Is Using Private Debt Collectors
The IRS is behind on collecting more than $400 billion in back taxes but it doesn’t plan on erasing those debts just yet. Instead, Congress mandated the use of private debt collectors for help. In fact, the IRS plans to begin private collection of certain overdue federal tax debts as early as this spring.

Entrepreneurs Share Their Favorite Business Books

  • 24 January 2017
  • Author: Alexander Carr
  • Number of views: 575
  • 0 Comments
Entrepreneurs Share Their Favorite Business Books
You’ll never guess what Bill Gates’ favorite business book is or who first loaned it to him. When he met Warren Buffett in 1991, he asked the business icon about his all-time favorite read. Business Adventures: Twelve Classic Tales from the World of Wall Street by John Brooks was his answer. Buffett loaned Gates his copy and—more than 25 years later—Gates admits he still has it. It’s just that good

Do I Need to Pay Estimated Taxes?

  • 17 January 2017
  • Author: Alexander Carr
  • Number of views: 580
  • 0 Comments
Do I Need to Pay Estimated Taxes?

We are certainly entering the era of the “gig” economy which, as we’ve covered before, has given each of us the option to earn a little extra cash. Some of us are armchair entrepreneurs, independent contractors or provide a service like driving for Uber or renting out a vacation home online.  For each one of these activities—whether they represent your main income or not—the IRS expects to earn a quarterly portion. This portion is called an estimated tax payment.

Don’t Forget to Leverage Retirement Savings Each Year

  • 9 January 2017
  • Author: Alexander Carr
  • Number of views: 1223
  • 0 Comments
Don’t Forget to Leverage Retirement Savings Each Year

Happy New Year! Chances are you didn’t get as much accomplished at the end of 2016 as you had hoped. If one of those unchecked items on your to-do list is to maximize your tax savings, you’re still in luck when it comes to your individual retirement account (IRA).

Right Now, It Pays to Not File Taxes…But Beware

  • 20 December 2016
  • Author: Alexander Carr
  • Number of views: 1301
  • 0 Comments
Right Now, It Pays to Not File Taxes…But Beware
The Treasury Inspector General for Tax Administration (TIGTA)—an Internal Revenue Service (IRS) watchdog—says the IRS is ignoring delinquent taxpayers

who owe billions of dollars. According to the agency, the IRS implemented a strategy to identify taxpayers who have not filed a tax return, including taxpayers with expired extensions, on an annual basis.

The Soda Tax that’s Sweeping the Nation

  • 13 December 2016
  • Author: Alexander Carr
  • Number of views: 1642
  • 0 Comments
The Soda Tax that’s Sweeping the Nation
Excise taxes are often added to purchases that are considered “bad for you.” That’s why you’ll routinely see excise taxes on gasoline, tobacco products, tanning beds, wagering bets and other vices. It’s not surprising, then, that a soda tax is beginning to take shape in many U.S. cities. What is surprising is the effect it’s already had on sugary drink consumption

New Overtime Ruling Blocked, For Now

  • 29 November 2016
  • Author: Alexander Carr
  • Number of views: 668
  • 0 Comments
New Overtime Ruling Blocked, For Now
If you’ve been sweating out the new overtime law changes going into effect December 1, 2016, you have a bit more time to plan. Just last week, the United States District Court for the Eastern District of Texas issued a preliminary injunction blocking the U.S. Department of Labor's new rule, which would have more than doubled the minimum salary level for exempt employees from $455 per week ($23,660 annually) to $913 per week ($47,476 annually)

End-of-Year Giving Guide

  • 29 November 2016
  • Author: Alexander Carr
  • Number of views: 1012
  • 0 Comments
End-of-Year Giving Guide
‘Tis the season to catch up on your last-minute tax deductions and strategies. What better way to save on taxes than to give that hard-earned money to the people and organizations you choose instead? There are two ways to do it: gifts to loved ones and charitable giving.
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