For most of us, the word “cybersecurity” can feel a bit intimidating, but you don’t need to be a tech whiz to protect your information online. The Indiana Department of Revenue (DOR) recommends taking a few simple steps to combat one of the most common cybersecurity threats—phishing. Phishing is when criminals disguise themselves as a…
Read More...How Are Trust Earnings Tax? Part Two
BY INVESTOPEDIA Updated Sep 11, 2019 Trust funds are taxed differently, depending on the type of fund they are. A trust that distributes all of its income is considered a simple trust, otherwise, the trust is said to be complex. A tax deduction is made for income that is distributed to beneficiaries. In this case, the beneficiary pays the…
Read More...How Are Trust Fund Earnings Taxed?
BY INVESTOPEDIA Updated Sep 11, 2019 Death and taxes. These are two things you can’t avoid in life. While there are ways you can minimize your tax implication, you certainly can’t get the tax man off your back. Virtually everything we touch is taxed, from our income, to the gains made on sales from stocks and…
Read More...Searching for extra income?
In the course of my exposure to other people and businesses, I found something that made me rethink multi-level marketing. I was introduced to a company called Zilis. It is a company that was started in August 2015, based on the principal of paying it forward. They started with no product and the first objective…
Read More...Do you have a working teen?
It is never too early to start your children on the path to saving for retirement. Whether a traditional IRA or a Roth, you can help your teen prepare for their future. Being underage, a parent is the custodian of the account and the teen has no access to the funds. I have some great…
Read More...Tax loopholes help boost the economy
There is a common misconception that someone using tax planning or loopholes is a shady person, or someone practicing tax avoidance. The truth is that loopholes are created by the government. They want us to use loopholes. Loopholes are just government incentives to promote its public policy. Most loopholes exist for business owners. More deductions,…
Read More...Updated Qualified Business Income information
As part of my continuing education, I attend webinars to help me keep up to date on tax changes as they occur. The IRS has relaxed the QBI deduction rules. Business owners may now file as Married Filing Separate and still receive the QBI deduction. A couple filing jointly will receive the deduction based on…
Read More...Qualified Business Income Deduction
Several changes in tax law occurred in December, 2017 when the new bill was passed. For married, filing a joint return, when owning a business, the QBI Deduction can give you much needed relief from tax liability. If a business owner is married, you must file a joint return to receive the most benefit from…
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