Most Amazon FBA businesses have a riddle they wrestle with—which is the Amazon FBA sales tax question.
Specifically, do you, if you’re an Amazon FBA business, need to collect and then report and remit sales tax?Amazon Amazon FBA business Colorado law nexus physical presence Quill sales tax tax nexus
Buried at the heart of every personal financial plan is a critical percentage: an average retirement savings return estimate.
But you and I need to adjust the return we expect for the expenses we pay to financial advisers and mutual fund companies.annual calculations estimate median outcome plan retirement retirement savings stock years
A couple of times recently, I’ve talked with taxpayers about their business education deductions.
First a Clarification: Tacit vs.
Before we get into the weeds on this, however, I want to define a couple of terms: explicit knowledge and tacit knowledge.activities business deduction Education educational estate explicit knowledge stuff tacit knowledge tax
Taxpayers always wonder about whether or not they can deduct expenses when they don’t have a receipt.
And be aware that taxpayers who try to rely on the Cohan rule often lose their case (see, for example, Sam Kong Fashions, Inc., T.C.Audit auditor business Cohan expenditure expense IRS receipt tax tax deduction
Earlier this year, the tax court issued a decision about the real estate professional loophole.
You can read through the court case to get the gory details (see the earlier link) and probably like me you’ll come away with this awkward conclusion: The IRS just didn’t want to believe the taxpayer’s assertions that annually he had spent more than 750 hours on real estate.court Dr Zarrinnegar estate estate investment estate professional hour IRS professional loophole tax taxpayer
Over the last week, this blog has provided several posts related to this idea that you need a retirement plan “B” to deal with the very real possibility that you end up with less in your retirement savings than you expect… (The series started with this post: Retirement Plan B: Why You Need One.
Note: It looks to me as if the worst-case 35-years-of-savings scenario ends right around 1920.higher plan possibility rate retirement saving tax thinking tool years
Over the last few days, the Evergreen Small Business blog has described why and how you need to develop a “plan b” for your retirement.
The Portfolio Visualizer Monte Carlo Simulation tool to identifies the range of outcomes that separates the 25th percentile from the 75th percentile.allocation asset enter matches plan portfolio retirement saving simulation text
Open the cFIREsim home page using this link cfiresim.com Enter the future year at which point you stop saving into the Retirement Year text box (See Figure 1 which follows and click the image if you can’t read it). Add 1 to the value you entered in the Retirement Year text box and then enter this value into the Retirement End Year text box.Area cFIREsim describe enter income plan retirement save spending text box
In some popular online forums, participants regularly tout the idea of self-directed IRA real estate investment or self-directed 401(k) real estate investment.
After writing dozens of messages rebutting this gambit, I finally realized I’d save time by summarizing here the ten big problems an investor creates with this approach to funding investments in real estate.Depreciation estate income inside investors IRA ordinary shelter tax taxed
In an online forum the other day, a long-time member advised someone to ignore their small business when considering their asset allocation.
But the question got me thinking: Shouldn’t asset allocation for small business owners and entrepreneurs consider their ownership interests in their businesses?allocation asset business entrepreneurs estate high investment owners small stocks