Financial Articles

How the 90-Day Mileage Log Rule Works for You

July 20, 2018

Often in an IRS audit, the examiner will ask for your mileage log at the beginning of the audit. If you do not have a mileage log, then you are in danger of losing more than just vehicle deductions. Think about it.

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Repaying Your Student Loans

July 16, 2018

You vaguely remember signing a form every year at college registration time. Now that you’ve graduated, it’s all become painfully clear–those forms were promissory notes detailing your student loan obligations.

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Pain at the Pump: Why Does It Cost More to Fill Your Tank?

July 12, 2018

Prices at the pump eased off a little in June, but motorists can expect an expensive summer behind the wheel. If you’re like most consumers, you may feel that you’re playing gas-price roulette every time you fill the tank. Why are prices so volatile? And why is the trend so much higher now than last year?

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IRS Rules for Deducting Your Business Gym

July 2, 2018

If you have been thinking about the fitness of your employees and the possibility of a gym or other athletic facility, then you need to know the tax rules. To be tax deductible, your gym or other athletic facility must be primarily for the benefit of your employees.

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Avoid Being an IRS Target When Your Business Loses Money

June 21, 2018

If you operate what you think is a business, but that business loses money, it may not be a business at all under the tax code. Such a money-losing activity can look like a tax shelter to the IRS, and that substantially increases your chances of an IRS audit.

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Estimating Your Retirement Income Needs

June 7, 2018

You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you’ll need to fund your retirement.

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Business Owners: Planning for Your New 20 Percent Deduction

June 5, 2018

As you likely know by now, the Tax Cuts and Jobs Act created a 20 percent tax deduction under new tax code Section 199A. The question for you: Will you reap any benefits from this new deduction? And the second question: If your chance of qualifying for the 20 percent tax deduction looks bleak, what can you do now to create some hope that you’ll get the deduction?

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