Normally, when companies sell properties, they must pay taxes on any gain they receive. Like-kind exchanges, transactions in which companies...READ MORE
Is Your Income Considered to be from a Business or Hobby?
by baklau | Financial Goals, Financial Planning
Did you know that the IRS doesn’t always let you treat your “business” as a business? They might consider it just a “hobby”! Put simply, a...READ MORE
5 reasons you need accurate up-to-date accounting records
by baklau | Financial Goals, Financial Planning, Financial Records
It could make or break your business. Accurate and up-to-date accounting records are the backbone of any successful business: Here are just 5...READ MORE
Are Your Workers Employees or Independent Contractors?
by baklau | Financial Records, Taxes
There are three basic rules that the IRS uses to determine which category the people that are doing work for you fall into. Behavioral Control...READ MORE
Lending Money to Family Could Taxing
by baklau | Financial Goals, Financial Records, Taxes
Lending money to family members probably dates back to the invention of money. Tax problems can arise when you first lend money, as you’re...READ MORE