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Booth Renter or Employee
Texas dropped its booth rental license, but salon owners still have to decide if stylists are booth renters or employees. Here's what each option means for you.
employer-provided-life-insurance

The Tax Consequences of Employer-Provided Life Insurance

If your employer provides life insurance, you probably find it to be a nice fringe benefit. However, if group term life insurance is part of your benefits package,

Guaranteeing-a-loan-to-your-corporation

Tax Implications Guaranteeing a Loan to Your Corporation

Let’s say you decide to guarantee a loan to your corporation. Before agreeing to act as a guarantor, endorser, or indemnitor of a debt obligation of your closely

using 401(k) for emergencies

Planning Ahead for 2024: Should Your 401(k) Help Employees with Emergencies?

The SECURE 2.0 law was enacted last year and contains wide-ranging changes to retirement plans. One provision in the law is that eligible employers will soon be able

deducting student loan interest on your taxes

Can You Deduct Student Loan Interest on Your Tax Return?

The federal student loan “pause” is coming to an end on August 31 after more than three years. If you have student loan debt, you may wonder whether

form 8300 for large cash business transactions

Receive More Than $10,000 in Cash at Your Business? Here’s What You Must Do

Does your business receive large amounts of cash or cash equivalents? If it does, you’re generally required to report these transactions to the IRS — and not just

tax-break-for-energy-efficient-home-improvements

Pocket a Tax Break for Making Energy-Efficient Home Improvements

An estimated 190 million Americans have recently been under heat advisories, according to the National Weather Service. If you’re one of them, it may have spurred you to

Advantages-of-LLC-for-small-business

Top Advantages of LLC for Your Business Growth and Protection

If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect your assets. Or maybe you’re

Moving-Mom-or-Dad-into-a-nursing-home

Moving Mom or Dad Into a Nursing Home? 5 Potential Tax Implications

More than a million Americans live in nursing homes, according to various reports. If you have a parent entering one, you’re probably not thinking about taxes. But there

sell-appreciated-land

A Tax-Smart Way to Develop and Sell Appreciated Land

Let’s say you own highly appreciated land and now it’s ripe for development. If you subdivide it, develop the resulting parcels and sell them off for a hefty

Retirement-account-catch-up-contributions

Retirement Account Catch-Up Contributions Can Add Up

If you’re age 50 or older, you can probably make extra “catch-up” contributions to your tax-favored retirement account(s). It is worth the trouble? Yes! Here are the rules

Corporate-officers-or-shareholders-expenses

Corporate Officers or Shareholders: How Should You Treat Expenses Paid Personally?

If you play a major role in a closely held corporation, you may sometimes spend money on corporate expenses personally. If you don’t take the proper steps these

estate-plan-income-tax-planning

Inheriting Stock or Other Assets? You’ll Receive a Favorable “Stepped-Up Basis”

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. How do the rules work? Under

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