Personal Finances

Day Trader Status

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Tax impact of investor vs. trader status If you invest, whether you’re considered an investor or a trader can have a significant impact on your tax bill. Do you know the difference? Investors Most people who trade stocks are classified as investors for tax purposes. This means any net gains are treated as capital gains […]

Business Planning and Consulting

Using your Dashboard

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Speed up business decisions with dashboard reports Would you drive a car without a functional dashboard? Perhaps once a month someone could tell you how fast you were going and how much fuel you had left. Sound good? Probably not. Yet this is how many business owners run their companies. The good news is there’s […]

Tax

Are mileage awards ever taxable?

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Are frequent flyer miles ever taxable? If you recently redeemed frequent flyer miles to treat the family to a fun summer vacation or to take your spouse on a romantic getaway, you might assume that there are no tax implications involved. And you’re probably right — but there is a chance your miles could be […]

albuquerque CPA , TAX advice

Giving Real Estate to a Charity

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Giving real estate to charity is rewarding, but beware of tax traps Did you know that the eshttp://www.checkpointmarketing.net/docs/08_25_16_583802382_EPB_560x292.jpgtate of director John Hughes donated the family’s Illinois mansion to a nonprofit hospital? After allowing another charity to use the home for a fundraising event, the hospital sold the home and used the proceeds to expand its […]

Business Planning and Consulting

Spousal Health Coverage

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Should you offer spousal health care coverage? As an employer looking to control and manage the costs of benefits and costs, there are many ideas to consider. One in particular is whether and how to offer health care insurance to their employees’ spouses. The Affordable Care Act doesn’t require spousal coverage. It only requires coverage for […]