5 Estate Planning Moves to Make ASAP
One of President Biden’s campaign promises was to introduce tax reforms that roll back various Trump era policies while increasing tax rates for some of the wealthiest Americans. He will expand federal income tax for those earning $400,000 or more, plus increase capital gains and payroll taxes, in addition to expanding estate tax. If you are in the process of …
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How to Make Money on Shopify
Have you dreamed of starting a business of your own? For many aspiring entrepreneurs and side hustlers, that dream has become a reality by making money on Shopify. Ecommerce is a booming business — statistics show online retail sales increased by 30% in 2020, a trend that was accelerated due to the COVID-19 pandemic. Starting a Shopify store can give …
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LLC vs. S-Corp — What’s the Difference and What’s Best for You
One of your first steps to making your self-employment path or a new business official is registering as either an LLC or S-Corp. Although registering under these designations requires certain fees and takes some legwork to understand which version is best for your situation, the potential tax benefits can be worth it. Here’s what to know about the differences between …
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6 Financial Goals for the New Year
Not interested in setting a traditional New Year’s resolution, like losing weight or eating healthier? You’re not alone. A majority of Americans are abandoning resolutions of years past, and instead, are focusing on more practical goals in today’s unpredictable world. One survey for Affirm found 62% of Americans are saving money for the future in 2021, while 54% want to …
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How To Invest In Oil
Investing in oil can have a major financial upside, which is why it’s a popular choice for many investors. But, it’s not without its risk, as the process can not only be complex but oil prices are prone to some volatility. If you want to invest in oil, it’s important to do your research and find a method of investing …
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6 Steps to Submit an Offer in Compromise for Tax Debt
Having trouble paying your tax bill? Falling behind on taxes can be scary, but you have options to get caught up. One common, albeit last-resort option, is an “Offer in Compromise”. In the 2019 fiscal year, the IRS accepted 17,890 offers from American taxpayers who needed help catching up on their taxes, totalling $289.4 million. If you’re considering making an …
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