Category Archives: Tax

Ask a CPA: FREE Individual Tax Planning Course

Ever wondered if you could reduce your tax liability or pay less tax on your income? Come join us for a FREE Q&A course related to individual income tax planning. It’s an opportunity to get your questions answered or hear ideas and questions from others that may help you with tax planning. DETAILS Time & […]

Like-kind Exchanges: Tax Deferred Gains

Like-kind exchanges are most popularly thought of exchanges of real estate under current law. Exchanging property is also a strategic way to dispose of property tax fee. Under the 2017 Tax Cuts and Jobs Act (TCJA) exchanges of personal property and intangible personal property no longer qualify as tax free exchanges under Internal Revenue Code […]

Freelancing and Taxes: Plan for them

Freelancer is a term we see a lot these days and the tax implications are different than as an employee. An employee has the luxury of their employer withholding and paying their tax to the appropriate taxing authorities on their behalf. A freelancer does not. In its simplest form a freelancer is a sole proprietor for income tax purposes. Becoming self-employed as a freelancer comes with great flexibility of being your own boss but one should be mindful of proper record keeping requirements and timely tax payments.