Multiple Jobs: Be Prepared for Tax Surprises

Working more than one job can help maximize income, but also potentially create a tax surprise. Here are several be aware of: Social Security Surprise: As a full-time employee, the most you’ll have to pay in Social Security taxes in 2023 is $9,932. The problem is each employer you work for will withhold Social Security taxes…

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Understanding Tax Credits Versus Deductions

Tax credits are some of the most valuable tools around to help cut your tax bill. But figuring out how to use these credits on your tax return can get complicated very quickly. Here’s what you need to know. Understanding the difference To help illustrate the difference between a credit and a deduction, here is…

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Fake Products (and Money!) Are Big Business

How to protect yourself from modern-day counterfeiter Counterfeiters are getting better at tricking you. They do this by using fake images, creating realistic websites and promising low prices. According to the Organization for Economic Co-operation and Development (OECD), fraudsters hold an estimated 3.3% of world trade, up from 2.5% in 2016. Here are some commonly…

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The Hidden Tax Consequences of Cryptocurrency

You may recognize the name Bitcoin and maybe even Ethereum, but what about Litecoin, Dogecoin or Ripple? These are just some of the more than 4,500 cryptocurrencies available today. There are hidden tax complications, however, associated with every cryptocurrency transaction. Here’s what you need to know. Every transaction has a tax consequence. The IRS treats cryptocurrency…

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Hey Alexa. Are you Making Me Dumb? 3 Concerns To Consider While Living With A Smart Speaker

Smart speakers like the Amazon Echo and Google Home are popping up everywhere. According to a Nielsen study from last September, nearly one of every four U.S. households has a smart speaker – 40 percent of those homes have more than one. For some, the speaker is an easy way to play music, for others…

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Hedging Against a Trade War

As a small business owner, the words “trade war” and “tariff” can be unsettling. When cost uncertainty is on the horizon, you will want to be prepared as much as possible. Here are some ideas to help you navigate your business through a possible trade war. Tariffs defined A tariff is a tax on imports…

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The Eye-Opening Video Games Phenomena

Over the course of the last 20 years, video games have morphed from an entertainment choice to a lifestyle. According to a 2018 Nielsen study, a whopping 66 percent of Americans 13 and older identify themselves as gamers. Here’s what you need to know: Major developments A massive 24/7 online community. Instead of needing friends…

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Useful Online Productivity and Security Tools

Here are several popular free or inexpensive online tools that can help manage and protect your online activities. They range from password management tools to security protection services. Password Managers A decade-old study by Microsoft estimates that the average person memorizes about six passwords and reuses them over and over. Today most people use dozens…

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Protect Yourself From Port-Out Scams

Mobile phones not only contain our personal details and information about everyone we know; they are used to verify our identities and unlock access to our financial accounts. Now scammers are using a process called a “port-out” to hack into our phones to change our passwords, steal our personal data and even empty our bank…

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Staying Organized At tax Time

Organizing your tax records not only makes filing your tax return easier, it also helps you find the financial documents you need throughout the year. Whether you’ve already filed your tax return or are about to, here are some tips to get organized. Go with the flow (of your tax return) Try organizing your records…

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