Tax Pro Plus
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Los Angeles, CA 90064
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- Tax Issues Related to Hobbies
- Generally, when individuals have a hobby, they have it because they enjoy it and are not involved in their hobby with the goal of making money. In fact, most hobbies never make money or don’t even create any income, for that matter. Tax law generally does not allow deductions for personal expenses except those allowed as itemized deductions on the 1040 Schedule A, and this also applies to hobby expenses.
- What Is the Statute of Limitations on Unpaid Taxes?
- Did you know there is a little-known statute of limitations for tax debt collections? Learn more about when this rule kicks in & what conditions must be satisfied.
- Employee Stock Options Can be Taxing
- If you are an employee of a corporation, as an incentive to continue employment, the company may offer you the option to purchase shares of the corporation at a fixed price at some future date so that you can benefit from your commitment to the success of the company by sharing in the company’s growth through the increase in stock value.
- How Business Owners Can Improve Cash Flow By Thinking Profit First
- As a business owner, it’s important to have a big picture understanding of your financial results. Where is your money flowing at all times?
- Video: How to Minimize Your Tax On Social Security Benefits
- Whether your Social Security benefits are taxable (and, if so, the amount that is taxed) depends on a number of issues. Watch to learn more.
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