Bitcoin is Property on Federal Taxes

Bitcoin is Property on Federal Taxes

Bitcoin is Property on Federal Taxes
Bitcoin is Property on Federal Taxes

For the last few months, because of the decline in market value of Bitcoin, there has been less talk and enthusiasm about “investing” in Bitcoin, or “hedging inflation” with Bitcoin.

However, Bitcoin may rebound and this Bitcoin Fever may well re-appear with constant discussion and debate regarding Continue reading Bitcoin is Property on Federal Taxes

Tax Changes for 2015: A CFO Checklist

TimeForChanges_co_55_print_CrystalGraphics.com_PowerPoint_TemplatesWelcome 2015! As the new year rolls around, it’s always a sure bet that there will be changes to current tax law and 2015 is no different. From health savings accounts to retirement contributions and standard deductions, here’s a checklist of tax changes to help you plan the year ahead.

Individuals

For 2015, more than 40 tax provisions are affected by Continue reading Tax Changes for 2015: A CFO Checklist

IRS 2015 Standard Mileage Rates

IRS 2015 Standard Mileage Rates

IRS 2015 Standard Mileage Rates
IRS 2015 Standard Mileage Rates

Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck are:

  • 57.5 cents per mile for business miles driven, up from 56 cents in 2014
  • 23 cents per mile driven for medical or moving purposes, down half a cent from 2014
  • 14 cents per mile driven in service of charitable organizations

These optional standard mileage rates are used to calculate the deductible costs of Continue reading IRS 2015 Standard Mileage Rates

Safeguarding Financial Records

Safeguarding Financial Records

 

Safeguarding Financial Records
Safeguarding Financial Records

Some natural disasters are more common in the summer. But major events such as hurricanes, tornadoes and fires can strike at any time, so it’s a good idea to plan for what to do in case of a disaster. You can help make your recovery easier by keeping your tax and financial records safe. Here are some basic steps you can take now to prepare:

  1. Backup Records Electronically. Many people Continue reading Safeguarding Financial Records

Cost Analysis for Business Success

Cost Analysis for Business Success

Cost Analysis for Business Success
Cost Analysis for Business Success

Can you point your company in the direction of financial success, step on the gas, and then sit back and wait to arrive at your destination?

Not quite. You can’t let your business run on autopilot and expect good results. Any business owner knows you need to make numerous adjustments along the way – decisions about pricing, hiring, investments, Continue reading Cost Analysis for Business Success

2015 Retirement Contributions Limits

2015 Retirement Contributions Limits

2015 Retirement Contributions Limits
2015 Retirement Contributions Limits

The Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2015.

In general, many of the pension plan limitations will change for 2015 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other limitations will remain unchanged for 2015. Here are the highlights:

Continue reading 2015 Retirement Contributions Limits

Review: 2014 Tax Provisions for Individuals

taxFrom tax credits and educational expenses to the AMT, many of the tax changes affecting individuals for 2014 were related to the signing of the American Taxpayer Relief Act (ATRA) in 2013–tax provisions that were modified, made permanent, or extended. With that in mind, here’s what individuals and families need to know about Continue reading Review: 2014 Tax Provisions for Individuals

Small Business and Obamacare

 

Small Business and Obamacare

Small Business and Obamacare
Small Business and Obamacare

Whether you’re self-employed or run a small business, here’s a quick look at what you need to know about the Affordable Care Act.

Self-Employed

If you run an income-generating business with no employees, then you’re considered self-employed. You can get coverage through the Healthcare Marketplace and use it to find coverage Continue reading Small Business and Obamacare