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Posts from February, 2019

  • Installment Sales In recent years, the economy has been having its share of ups and downs. When businesses and private citizens want to secure financing from financial institutions to make large purchases, the economy can greatly influence the bank’s willingness to loan funds. In an unknown ... Continue Reading
  • Taxation of Minors Most of the time, children are considered to be an extension of their parents when it comes to legal application until the age of majority. Therefore, many taxpayers are surprised to learn their child is a separate taxpayer, even as a minor. If your child has enough income, ... Continue Reading
  • Hobby or Business? “You should sell those.” It’s a phrase many people have heard when showing someone their crafts. When does a hobby become a business? Is it when you first start selling your items? Is it when you first turn a profit? When can you start deducting expenses against the income? ... Continue Reading
  • Crowdfunding and Taxation In recent years, raising money online through third-party backers, or crowdfunding has grown in popularity. Originally utilized mostly by musicians, filmmakers and for other creative endeavors, it has now become a more widespread method of raising money for a trip, medical ... Continue Reading