We have prepared a selection of frequently asked questions.
3 min read
Scott Henvey: Jul 8, 2024 12:57:29 PM
Employees, self-employed individuals, and employers all pay Social Security tax, and the amounts can get bigger every year. And yet, many people...
2 min read
Scott Henvey: Jul 8, 2024 12:46:28 PM
From the minute they open their doors, business owners are urged to keep a close eye on cash flow. And for good reason — even companies with booming...
2 min read
Scott Henvey: Jun 6, 2024 9:29:14 AM
Business owners are rightly urged to develop succession plans so their companies will pass on to the next generation, or another iteration of...
2 min read
Scott Henvey: Jun 5, 2024 2:28:02 PM
There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person’s life and allowing...
2 min read
Scott Henvey: Jun 5, 2024 2:20:47 PM
Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have a parcel of appreciated...
2 min read
Scott Henvey: Jun 5, 2024 2:12:57 PM
If you donate valuable items to charity and you want to deduct them on your tax return, you may be required to get an appraisal. The IRS requires...
2 min read
Scott Henvey: May 10, 2024 9:54:15 AM
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...
2 min read
Scott Henvey: May 10, 2024 9:46:07 AM
For businesses, cost-effectively sponsoring a health insurance plan for employees is an ongoing battle. In the broadest sense, you have two options:...
2 min read
Scott Henvey: May 10, 2024 9:33:35 AM
Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it wise...
2 min read
Scott Henvey: Apr 16, 2024 4:02:03 PM
If you’re buying a new home, you may have thought about keeping your current home and renting it out. In March, average rents for one- and...
2 min read
Scott Henvey: Apr 16, 2024 3:54:06 PM
If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should carefully...
2 min read
Scott Henvey: Apr 16, 2024 3:45:13 PM
Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in...
2 min read
Scott Henvey: Apr 16, 2024 3:37:10 PM
Are you dreaming of buying a vacation beach home, lakefront cottage or ski chalet? Or perhaps you’re fortunate enough to already own a vacation home....
