by groupm7 | Jun 15, 2026 | Blog
Many parents don’t know that the so-called “kiddie tax” exists. Others assume it affects only minor children. But it also can apply to full-time students through age 23 and 18-year-olds even if they aren’t full-time students. When it applies, most of the child’s...
by groupm7 | Jun 15, 2026 | Blog
If you’re self-employed, you probably have questions about deducting business expenses on your federal income tax return. Here’s a quick overview of the filing requirements for sole proprietors and independent contractors, and five examples of expense deductions that...
by groupm7 | Jun 15, 2026 | Blog
U.S. Generally Accepted Accounting Principles (GAAP) is widely perceived as the “gold standard” in financial reporting. Public companies are required to issue GAAP financial statements. A recent survey found that most private businesses also follow GAAP, though some...
by groupm7 | Jun 15, 2026 | Blog
If you participate in a company 401(k) plan, you already know that you can make pre-tax contributions up to the annual elective deferral limit to a traditional, tax-deferred account. If your 401(k) plan offers a Roth option, you can use part or all of your limit to...
by groupm7 | Jun 15, 2026 | Blog
Many modern businesses rely on intangible assets, such as goodwill, trademarks and customer lists. But the IRS doesn’t treat all intangibles the same way. Questions about how these assets are taxed often arise when a business is sold, ownership changes hands, or...
