Prizes received are to be recorded on your tax return as income. Unfortunately, there are many pitfalls. Here are some tips.
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Useful tax information and updates for business and for individuals
Paldino Company CPA - "Success Starts with a Handshake"
Welcome to my blog page the purpose of which is to provide you with timely and relevant tax and accounting information. I intend to bring you information which you can use now to assist you in lowering you income taxes. I will when appropriate give you links to tax related web-sites, worksheets and check-list to assist you in meeting you recording keeping requirements and provide you with the information you need to prepare an accurate return and pay the least amount of tax you are legally required to pay. Please check back often and feel free to post your questions and comments
Friday, October 19, 2018
Friday, October 12, 2018
Make Your Child a Tax-Free Millionaire!
Want to give your child or grandchild a jumpstart on their retirement? Here is a tip that will help them learn the value of investing and maximize the tax benefits.
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from Weekly Tax Tip https://ift.tt/2Cavaj4
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Friday, October 5, 2018
Understanding Tax Terms: Pass-through Entities- What are they? Why should you care?
If you are a small business owner filing your taxes as a sole proprietor, or you own a C corporation, understanding flow through entity is important. Given the popularity of this business format, it continues to drive tax policy. Here is what you need to know.
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from Weekly Tax Tip https://ift.tt/2OFlJib
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