Tax Implications of Taking 529 College Savings Plan Withdrawals
Tax-favored Section 529 college savings plans — also known as qualified tuition programs — have been around long enough that many people are now withdrawing money to pay for school. Qualified…
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Do You Owe the Nanny Tax?
The COVID-19 pandemic has changed the dynamics of many households. In most cases, schools stopped or limited in-person instruction, causing many children to engage in at-home learning. Some families moved disabled…
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7 Valuable Deductions for Self-Employed
Dentists and Dentists Filing as Single Member LLC’s If your dental office was forced to close due to the pandemic, you may be very busy and seeing an increase in patient…
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Advance Child Tax Credit Payment Recipients Can Still Opt-Out
Advance child tax credit (CTC) payment recipients can still opt-out even if they start receiving payments. These payments were created in the American Rescue Plan Act of 2021 and the…
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Home Sales: How to Determine Your “Basis”
The housing market in many parts of the country is strong this spring. If you’re buying or selling a home, you should know how to determine your “basis.” How it…
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Employee vs. Independent Contractor – The Consequences of Misclassification
In the shadows of a global pandemic, the economy is beginning to recuperate and business owners are opening their doors up again. Dental practices may see an influx in patient…
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