With year-end quickly approaching and tax season just around the corner, we thought it’s a good opportunity to brush up on a few basic tax-planning strategies. For any taxpayer, an important strategy is deduction planning. Deduction planning is extremely complex, but some things to remember if you are a cash basis tax payer are: Expenses […]
Archives for November 2015
Is This A Business Or A Hobby?
Here are four tax tips you should know regarding hobby versus business activity: A key feature of a business is that you do the activity to make a profit. This differs from a hobby that you may do for sport or recreation. There are nine factors to consider when you determine if you do the […]