2018 was a pretty dramatic year for most people. The markets soared to new heights and became extremely volatile. Bitcoin crashed. The Fed increased interest rates, the principal value of bonds fell, yields rose and inflation ticked up past the...
Guest Post by Chris Whalen, CPA FACTS: Family of 4, Two Parents, Two Children, 100K of wages. In 2017 they were renters. This case study will analyze and compare the same financial facts based on the new law with the...
Tax Reform’s Impact – Case Study #1 Guest Post by Chris Whalen, CPA FACTS: Family of 4, Two Parents, Two Children, 230K of wages, homeowners with itemized deductions. Are you concerned about how the new law will impact your family’s...
Guest Post by Chris, Whalen, CPA Many employees pay for business related expenses that their employer does NOT reimburse. These are called Unreimbursed Business Expenses and they are taken as a deduction on Schedule A, Itemized Deductions, using Form 2106. Here is...
Guest Article By Chris Whalen, CPA: Starting a business is extremely complex, and it is very easy to make mistakes that can incur tax penalties and also hurt your chances for acquiring financing. Let’s say you were starting a company...
Key Points: Tax changes in recent years included a new Medicare surtax for high-income earners, a new top rate for dividends, long-term capital gains and the phase-out of itemized deductions for high earners. If you're subject to higher taxes, it's...
