Adam’s Tax Blog

Note: Tax advice, articles, and content contained on this site are intended for informational and educational purposes only. They are not a substitute for professional advice. Tax matters are can be extremely complex and vary greatly for each individual or company. Please click here to read our complete disclosure and disclaimer for the information presented on this site.

Retiring Soon? 4 Tax Issues You May Face

Retiring Soon? 4 Tax Issues You May Face

If you’re getting close to retirement, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of four tax and financial issues you may deal with when you retire: Taking required minimum...

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Plan Ahead for the 3.8% Net Investment Income Tax

Plan Ahead for the 3.8% Net Investment Income Tax

High-income taxpayers face a 3.8% net investment income tax (NIIT) in addition to regular income tax. Fortunately, there are some steps you may be able to take to reduce its impact. The NIIT applies to you only if modified adjusted gross income (MAGI) exceeds:...

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Still Have Questions After You File Your Tax Return?

Still Have Questions After You File Your Tax Return?

Even after you have successfully filed your 2020 tax return with the IRS, you may still have some questions about the return. Here are brief answers to three questions that we’re frequently asked at this time of year. Are you wondering when you will receive your...

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An S Corporation Could Cut Your Self-Employment Tax

An S Corporation Could Cut Your Self-Employment Tax

You’re subject to both income tax and self-employment tax if your business is organized as a sole proprietorship or as a wholly owned limited liability company (LLC). However, there may be a way to cut your tax bill by conducting business as an S corporation....

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Working in the Gig Economy Results in Tax Obligations

Working in the Gig Economy Results in Tax Obligations

Before the COVID-19 pandemic hit, the number of people engaged in the “gig” or sharing economy was already on the rise. Reductions in working hours during the pandemic have caused even more people to turn to gig work in order to make up for lost income. There are tax...

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