Know Your Deeds: An Overview of Deed Types in Massachusetts
What Is a Deed? While the ‘title’ to a property is the abstract concept of rightful ownership, a deed is a legal document recognizing an individual’s, individuals’, or legal entity’s ownership of a property. A deed will include a detailed description of the property, including property lines, and name the seller (grantor) and buyer (grantee). […]
The Afterlife of Litigation: What You Need to Know About Inheriting a Lawsuit
What to Do When Probate Meets Civil Litigation Civil litigation and the probate process: both can potentially drag out for months, if not years; both cost those involved dearly in both financial and emotional terms; both can be made less likely, or less painful, by careful planning and consultation with skilled legal representation. Yet, even […]
Manage Your Business’s Unemployment Taxes
As a business owner, you’re required to pay three different types of payroll taxes. FICA (Federal Insurance Contributions Act) is the tax used to fund Social Security and Medicare programs. FUTA (Federal Unemployment Tax Act). Employers pay this federal tax to provide unemployment benefits to laid-off workers. SUTA (State Unemployment Tax Act). State governments also […]
Common Tax Mistakes When Selling a Home
With home sales booming throughout much of the country, you may decide that now’s the right time to put your abode on the market. If you do put your primary residence up for sale, try to steer clear of the following mistakes. Not qualifying for the home sale exclusion. If you’ve owned and used your […]
Small Business IRS Audit Mistakes
In late 2020, the IRS announced that it will increase tax audits of small businesses by 50 percent in 2021. Here are several mistakes to avoid if you do get audited by Uncle Sam. Mistake: Missing income. A long history of investigating has led IRS auditors to focus on under-reported income. If you’re a business […]
Good Debt Versus Bad Debt
How to tell the difference Not all debt is created equal. Knowing the difference can change the way you look at your spending. Good debt adds value Good debt often leads to financial growth, because the product or service being purchased adds more value than the debt that comes with it. Student loans are usually […]
Ideas to Lower Your 2021 Tax Bill
Now is the time to begin tax planning for your 2021 return. Here are some ideas: Contribute to retirement accounts. Tally up all your 2021 contributions to retirement accounts so far, and estimate how much more you can stash away between now and December 31. So consider investing in an IRA or increase your contributions […]
What Small Business Owners Need to Know about COVID-19 Relief Bills
Unprecedented Times; Unprecedented Aid Beginning in March 2020, Congress moved swiftly to offer relief from the financial hardships of the COVID-19 pandemic. The Coronavirus Aid, Relief, and Economic Security Act (also known as the CARES Act) was signed into law on March 27, 2020. It directed two trillion dollars in funding towards seven key areas: […]
Protecting your home-based business from legal claims
Many more people are creating home-based businesses or adding another gig to their repertoire these days. But many of those entrepreneurs do not realize that the same legal requirements apply to them as to any other business. A business attorney can help you make sure your ducks are in a row. Currently, the SBA has […]
Small businesses sued over ADA website compliance
Around 60 small businesses in Colorado have been sued by an out-of-state law firm over alleged violations of the Americans with Disabilities Act. The businesses claim that the New Jersey-based law firm is targeting small-to-medium-sized businesses. The lawsuits claim that the businesses have websites that are not compliant with the ADA. Blanchard Family Winery, which […]
