You’ve been responsible with money your entire life, setting some aside for retirement or to build up a rainy day fund. Then something unexpected comes up—a long stretch of unemployment, an illness with major medical bills, or major unanticipated home repairs—and you suddenly find your savings depleted. I’ve worked with clients who have gone through some of life’s [...]
My friend announced that she and 300 co-workers found themselves facing unemployment, as their jobs were outsourced less expensively overseas. Companies tightening their belts often will eliminate employees and hire contract workers, whether directly (freelancers) or indirectly (overseas). Employees mean payroll taxes, workers compensation insurance, sick days, holidays, vacation days, and other benefits, including health insurance. Because [...]
The advancement of technology is providing the opportunity for many parents to work from home. From more traditional jobs that allow telecommuting to full-fledged home businesses, an increasing number of parents are finding it possible to earn money without needing to go into an office to do so. While working from home sounds good in theory, [...]
Small business owners can take a tax deduction with the standard mileage rate. Excerpt from Small Business Taxes Made Easy by Eva Rosenberg. Autos, trucks, vans, minivans, trailers, SUVs, whatever you’re using, it’s probably one of your most costly assets. It’s also your best source of business deductions, since you’ve got to have a set [...]
“Stay away from that. It’s a major red flag!” That’s what I keep hearing from people as they’re filing taxes. “Oh no, I don’t want to risk an audit. Not on my return—no office-in-home deduction for me.” Don’t be silly. Practically everyone is working from home these days. Thanks to special new security precautions and [...]
Year after year, we work with the same old business tax forms, with just the date changed on the top of the form. The IRS doesn’t generally change forms much because each time they do, confusion results when people start filing taxes. However, in 2012, two forms have in fact been changed. What follows is [...]
What the heck is a 1099-K? It’s a new tattletale form designed to help the IRS know more about your income sources when you’re filing taxes. Its targets are the many people who run online businesses, sell at swap meets, or have home-based businesses but who don’t necessarily report all their income. The 1099-K tells [...]
Job seekers are facing a tough market that doesn’t appear to be getting any better. In September, the U.S. unemployment rate was 9.1 percent, per the Bureau of Labor Statistics. Dig deeper. The real unemployment rate (U-6) is closer to 16.5 percent. About one in six people are unemployed or underemployed. For job seekers, here [...]
Not since 1988 has seasonal hiring been at such a low, according to an analysis of Bureau of Labor Statistics data by Challenger, Gray & Christmas...
If your budget is tight, the last thing your personal finances need is a scam, a bad move or out of control spending. Three new books provide a lift for those who are trying to do more with their money, and provide much-needed advice for avoiding common traps and potholes. These books can benefit you and your finances as well as other sources, such as MovingScam.com, where you can get additional information.
