IRS Compliance for Small Business Owners

In the eyes of the IRS even an honest mistake can be costly. Those who fill out their taxes incorrectly or accidently underreport their income can be fined considerable amounts. For a small business owner, any inaccuracies can even be more costly… “Business owner Orman Wilson of Houston, proprietor of 19 incredibly successful coin-operated car washes around the metropolitan area, …

Save Money on Gasoline Prices

Gas prices in California are at record levels. According to AAA’s Daily Fuel Gauge Report the average price for a gallon of regular gas is $4.67. The price is a state record and the highest in the nation. To help combat these high prices we would like to pass along a handy tool for you to use to find the cheapest …

How to Obtain Your Current Social Security Statement

by Peter M. Weinbaum, JD The Social Security Administration has resumed mailing written copies of Social Security Statements to individuals over 60 years old. If you have not received your 2012 statement in the mail, you may obtain it online. 1. Go to http://ssa.gov/ 2. Go to the Top Services menu on the left side of the page and click …

Divorce and the Tax Consequences of Payments

Determining the tax consequences that can arise during a divorce or marital separation can be vital for the financial protection and well-being of you and your family. Thats why its important to understand applicable tax laws before making any major decisions. Often most confusing during the divorce process is determining whether a payment should be considered alimony or child support. …

Optimizing Social Security Retirement Benefits

  Title: Optimizing Social Security Retirement Benefits – How Many Thousands of Dollars Will YOU Leave on the Table? Date: Thursday, September 20, 2012 Time: 12:00 PM – 1:30 PM EDT Space is limited. What if you discovered that what you dont know about Social Security could result in your walking away from potentially thousands of dollars of additional income? It happens to …

Tax Implications for Sole Proprietors and Self-Employed Consultants

Picking up a second job to supplement household income in a tough economy is becoming more common. Many Americans are choosing to become consultants that visit homes to sell make-up, jewelry, candles, kitchen utensils and food products. Some may not realize the tax implications of becoming a sole proprietor and what they need to do to file taxes. Conducting business …

September is Life Insurance Awareness Month

Life insurance can do some pretty amazing things for people. It can buy loved ones time to grieve. It can pay off debts and loans, providing surviving family members with the chance to move on with a clean slate. It can keep families in their homes and pre-fund a childs college education. It can keep a family business in the …

2012 Corporate and Individual Filing Deadlines for 2011 Extended Returns

As a courtesy to our friends and clients we would like to remind you, the final corporate and individual income tax returns deadlines are fast approaching. September 17, 2012 is the last day for corporations to file extended returns. This due date applies only if you timely requested a six-month extension. Also, please note October 15, 2012 is the final …

9 Questions, Mistakes and Tips Every Boomer Should Consider on Long-Term Care

For many boomers, long-term care needs short-term attention. Seventy-seven million of them will become senior citizens during the next 18 years, bringing more focus to how they will be cared for and pay for care in their twilight years. Long-term care insurance is an option, but the market is undergoing changes. Twenty-one major insurance companies no longer offer individual long-term …

Refinancing Could Restart the Real Estate Market

Allowing people to refinance their mortgage could be the catalyst to revive our economy and reduce unemployment. Critics point out that it sends the wrong message for those in need of refinancing since they were irresponsible and created their own financial woes. Their point is a good one, but it is no longer relevant in this age of government “bail …