by Hobbs Group | Aug 29, 2018 | Uncategorized
Under the Tax Cuts and Jobs Act, employees can no longer claim the home office deduction. If, however, you run a business from your home or are otherwise self-employed and use part of your home for business purposes, the home office deduction may still be available to...
by Hobbs Group | Aug 22, 2018 | Uncategorized
Converting a traditional IRA to a Roth IRA can provide tax-free growth and tax-free withdrawals in retirement. But what if you convert your traditional IRA — subject to income taxes on all earnings and deductible contributions — and then discover you would...
by Hobbs Group | Aug 14, 2018 | Uncategorized
Because donations to charity of cash or property generally are tax deductible (if you itemize), it only seems logical that the donation of something even more valuable to you — your time — would also be deductible. Unfortunately, that’s not the case....
by Hobbs Group | Aug 1, 2018 | Uncategorized
You’ve probably heard about the recent U.S. Supreme Court decision allowing state and local governments to impose sales taxes on more out-of-state online sales. The ruling in South Dakota v. Wayfair, Inc. is welcome news for brick-and-mortar retailers, who felt...
by Hobbs Group | Jul 25, 2018 | Uncategorized
For small businesses, managing payroll can be one of the most arduous tasks. Adding to the burden earlier this year was adjusting income tax withholding based on the new tables issued by the IRS. (Those tables account for changes under the Tax Cuts and Jobs Act.) But...
by Hobbs Group | Jul 18, 2018 | Uncategorized
The Tax Cuts and Jobs Act (TCJA) provides a valuable new tax break to noncorporate owners of pass-through entities: a deduction for a portion of qualified business income (QBI). The deduction generally applies to income from sole proprietorships, partnerships, S...
by Hobbs Group | Aug 18, 2016 | Uncategorized
Crowdfunding is a way for businesses to obtain capital from multiple sources. It has become more prominent with the development of websites such as Kickstarter or Idiegogo. One common misconception about crowdfunding is that only start-ups use it, but it can be an...
by Hobbs Group | Aug 18, 2016 | Uncategorized
Speaking recently with various Non-profits it was conveyed to me that they weren’t aware of the filing requirement for the FinCen Form 114 – Report of Foreign Bank and Financial Accounts. Non-profit organizations are required to file the Form 114 if they have a...
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