small business
Sneak Peak at IRS Report - Who Are They Going After Next?
We’ve discovered a new report by the IRS, due to come out December 2008. You might remember 2 years ago when we broke the story about the IRS gearing up to audit real estate professional status. I kick myself for not sounding the alarm louder at the time. I never thought we’d end up with an Acting Chief of the IRS who used to be head of Collections. And, that it would happen at a time of a housing value meltdown. So, what are they coming after next? Read on. You may need to make some changes very quickly to avoid the next wave of the storm from the IRS.
Small Retailers Targetted by Congress in New Housing Bill
A few days ago I talked about the new Housing Bill and how it relates, good and bad, to home owners. There was another a little piece that was stuck in there that has the potential to have even further ranging consequences.
$500 From Living on the Street
I recently learned that the average American that loses everything (house, car, etc.) is actually upside down an average of $500 per month.
That number just rocked me because I know that there has to be a way to get that money for the average American. Please click through to read this whole post, because I’m going to ask you to join with me in brainstorming some solutions.
How to Go Wrong with an SEP
A SEP (Simplified Employee Pension) is designed to do one thing - make it easy for small businesses to offer a pension plan, where those businesses may not otherwise have the time or money to administer a more complex plan. But as with all simple things, there is often a price - and in this case, it’s strict compliance with the rules - or else!
In a recent Tax Court case, a husband/wife business owner team found out just how high the price can be, when two entire year’s worth of contributions were disallowed for failure to follow the rules.
