If you operate a business out of your home, you may be able to deduct a wide variety of expenses. These may include part of your rent or mortgage costs, insurance, utilities, repairs, maintenance, and cleaning costs related to the space you use. It can be a tricky area of the tax code that's full…Read more
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Most Americans simply don't save enough. Nearly half (45 percent) of working-age households don't have any retirement assets, according to the National Institute on Retirement Security. Of those working-age households close to retirement (age 55 and older) nearly two-thirds have less than one year's worth of their annual salary in retirement savings. The goal So…Read more
Carefully evaluate reasons to incorporate your business. Most new businesses start with no thought about legal structure. In the eyes of the IRS, the default structure is a "sole proprietor," in which your business profits are taxed on your personal tax return. This can serve you well to start, but there are several reasons you…Read more
July 2017 tax and financial deadlines are posted in the Online Advisor, this month's newsletter from Urbielewicz Murphree CPAs, Albuquerque.
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