Often lost in the excitement of large-scale tax change is how they can negatively impact some individual situations. Check out the questions below to see if you might be in for a tax surprise this year.
If not tracked and managed properly, capital gains tax can come as a large surprise at tax-filing time. In fact, many taxpayers don't realize they have a capital gain until they get their 1099 form in January and see a capital gain distribution.
You've done the hard work. You have a new business idea or you've found an existing business to purchase. Want to help ensure your business success? Pay attention to correctly setting up your business' accounting system. Here's how:
In today's digital age, it is impossible to avoid the internet. Even if you don't have a computer and actively avoid social media, there is information about you in some corner of the web. Here are some tips to help you manage your digital footprint:
The U.S. Supreme Court issued a ruling in the South Dakota vs Wayfair case that opens the door for states to impose sales tax on sellers outside their borders. The case highlights a new standard of business presence called "economic nexus" that may h
In our current world, most business owners are looking for flexible solutions to meet their accounting needs. They want mobile access to get the data that they need when they need it and automated processes to save them time. In response to this need
No-one likes to be blindsided by financial hardship. Listed here are 10 ideas to help ensure your financial situation stays healthy.
There's a new student loan repayment program that forgives some student loan debt if other payments are made. This new debt forgiveness is creating a tax surprise for the unsuspecting student. Here is what you need to know.
As European trade war concerns cool, domestic and international stocks restarted their march upward. US Large Cap Stocks measured by the S&P 500 Composite were up 3.72%...
Here are several popular free or inexpensive online tools that can help manage and protect your online activities. They range from password management tools to security protection services.
Like a bundle of sticks, good business partners support each other and are less likely to crack under strain together than on their own. In fact, companies with multiple owners have a stronger chance of surviving their first five years than sole proprietorships, according to U.S. Small Business Administration data.
Whether it makes sense to amend your return depends on which of these situations you're in
The average household carries $137,063 in debt, while the median household income is less than $60,000, according to data from the Federal Reserve and U.S. Labor Department. While it's easy to get into debt, it can be hard to get out. Here are five t
Part of financial planning is having a sense of how much it will cost to replace your possessions when they break down or wear out. Many of the big-ticket consumer products may cost more to replace and wear out sooner than you think.
2018 continues to be a bumpy ride as President Trump moves on with his “Make America Great Again” agenda. The president broadcasted his intentions throughout his presidential campaign...
New parents have their work cut out for them. Not only are they dealing with lost sleep, they also face the extra cost of raising a child. At least there are a lot of potential tax breaks available to them. Check out this list.
The recently enacted Tax Cuts and Jobs Act (TCJA) is the most significant tax package in 30 years. Here’s a look at some of the more important elements of the new law that may impact you.
The recently enacted Tax Cuts and Jobs Act has overhauled of many parts of the Internal Revenue Code. Here are some of the most important provisions in the new law that affect businesses.
So you're ready to open an individual retirement account, but you're not quite sure what's going to work for your situation. Don't worry. Here's a quick overview to help you decide.
Charitable giving is a whole new ballgame for taxpayers now that most itemized deductions have been reduced or eliminated and the standard deduction has nearly doubled.
While the kids are getting out of school, we thought we would take you back to the classroom and review some key terms that you may be hearing regarding what’s happening in the market.
Now is the ideal time to schedule a tax-planning session. Your tax return outcome is still fresh, and it's early enough in the year to make corrective action to take advantage of the numerous new tax law changes taking place in 2018. Here's a brief overview of some of the new tax issues that you need to plan for now.
December may feel like a long way off, but it’ll show up quicker than you think. Luckily, you still have time to figure out just how much the Tax Cuts and Jobs Act (TCJA) affects your situation.
Tax Day has passed, but that doesn’t mean all of your tax issues have been resolved. Here are answers to three popular questions taxpayers ask post-tax season.
With April now behind us, the S&P 500 is just about even from the beginning of the year, but what a ride it has been! January gave us the “Melt Up” of over 7%, February brought a correction, and March was a whipsaw of trade concerns and inflation fears. It seems April was more of the same.
The Tax Cuts and Jobs Act (TCJA) was passed by Congress in a hurry late last year, and the IRS and tax preparers have been working to digest some of the more thorny issues created by the tax overhaul. Here are the latest answers to some of the most common questions.
Health care coverage gaps happen. Whether because of job loss or an extended sabbatical between gigs, you may find yourself without health care for a period. Here are some tax consequences you should know about, as well as tips to fix a coverage gap.
When I was studying to obtain the CERTIFIED FINANCIAL PLANNER™ certification, one of the first definitions I had to memorize was the meaning of risk--the possibility of loss. Risk is everywhere in our world, and as your advisors it is our job to help you identify these risks and find the most effective means to reduce or eliminate them.
Support staff often play an unrecognized yet vital role in a business’s success. In many ways, they are the mortar that holds all the bricks together. At Whitcomb & Hess, we understand their value and would like to introduce to you to two of our Investment Team members who contribute greatly to our organization.