by AboutProfit | Feb 14, 2020 | Uncategorized
I have had several clients ask me this which is unusual but here is what you need to know : If you withdraw money from your IRA before you are age 59½, you are generally subject to a penalty of 10% of the distribution, in addition to any tax that may be due on the...
by AboutProfit | Feb 13, 2020 | Uncategorized
One of the biggest traps business owners fall into, in my experience, is always chasing revenue. Many business owners believe that all their cash flow problems will be solved if they can just reach that next revenue milestone, $100,000 or $500,000 or $5,000,000 but it...
by AboutProfit | Feb 12, 2020 | Uncategorized
Crowdfunding can create a number of tax issues. In some cases, there is little guidance from the IRS or state governments on how to treat the transactions. When an individual or nonprofit cause receives a gift, the income is generally not taxable to the recipient....
by AboutProfit | Feb 12, 2020 | Uncategorized
Crowdfunding can create a number of tax issues. In some cases, there is little guidance from the IRS or stategovernments on how to treat the transactions. Generally, contributions to a crowdfunded project will not be deductible unless the recipient is a qualified...
by AboutProfit | Feb 11, 2020 | Uncategorized
Every business class I have ever taken, including coaching programs I am involved with now, spend so much time talking about how our client relationships are all based in communication. Clients stay or go based on how they perceive their communication with us. I get...
by AboutProfit | Feb 10, 2020 | Uncategorized
Scammers have become so sneeky that they are not calling taxpayers much anymore, now they are sending certified mail letter. Yes, certified mail. Crazy right ? I had a client receive a certified mail letter to their home which appeared to be from the IRS. To be safe,...
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