Tax Pro Plus
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Los Angeles, CA 90064
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- Time for Baby Boomers to Pay Up
- All you baby boomers who have been stashing away tax-deferred retirement savings, take note: it is getting close to the time to start withdrawing funds from those accounts and, of course, paying taxes on those withdrawals. This includes distributions from traditional IRAs and 401(k)s.
- Hobbies and Income Tax
- Millions of U.S. taxpayers engage in hobbies such as collecting stamps or coins, refurbishing old cars, making crafts, painting or breeding horses, and the list goes on.
- Preparing Your Own Tax Return? That May Not Be a Wise Decision.
- We hear a lot about the complexity of the tax code these days and a lot of rhetoric from Washington about simplifying it. The tax code was originally written simply to bring in money (taxes) to pay for government costs. But over the years, Congress has used the tax code more and more as a tool to manage social reform, and as a result the code has gotten quite complex.
- Did You Know Gambling Can Increase Your Health Insurance Costs?
- If you are a recreational gambler, there is a quirk in the tax law that can actually cause you to pay more for your health insurance if you have gambling winnings, even if the overall result from gambling for the year is actually a loss.
- Avoid These 4 Common Small Business Accounting Mistakes
- When you decided to open for business, you had a vision for the future. You identified a need and came up with a solution you could provide and sell, and you invested your time, your money, your knowledge, and your drive to make it into a reality. The only problem in this scenario, if you're like a lot of small business owners, is that you did not anticipate having to handle your business's accounting needs. Many highly intelligent, responsible business operators get caught making common small-business accounting mistakes that can trip them up and cost them in the long run. If you are afraid this might happen to you — or if it already has — the best way to avoid these costly errors is to learn the top four small-business accounting mistakes and how to prevent them.
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