Make 2023 Annual Exclusion Gifts by Dec. 31
One of the most effective estate-tax-saving techniques is also one of the simplest: making use of the gift tax annual exclusion.
One of the most effective estate-tax-saving techniques is also one of the simplest: making use of the gift tax annual exclusion.
Many individuals today are self-employed or generate income from interest, rent, dividends, and other sources. If you’re in this situation, you could be risking penalties if you don’t pay enough taxes during the year through estimated tax payments and withholding.
If your business sells products, you know how important it is to be able to track their numbers precisely. Keep your stock at the right levels, and you shouldn’t run out of items. You also won’t have a lot of money tied up in products that aren’t selling.
If you may be eligible for disability income should you become disabled, it’s important to know whether that income will be taxable. As is often the case with tax questions, the answer is “it depends.”
If you’re self-employed and run your business from home, or perform certain functions there, you might be able to claim deductions for home office expenses against your business income.