Through October 2022, you can buy Series I bonds that pay 9.62 percent interest. And you receive that rate for six months from the time of purchase. What happens after that? On November 1, 2022, the U.S. Treasury Department sets a new six-month rate equal to the fixed rate (currently zero) plus the Consumer Price

Here’s a question: Does a member of a limited liability company (LLC) or a partner in a partnership have to pay self-employment taxes (Social Security and Medicare tax) on the member’s or partner’s share of the entity’s income?   Incredibly, the answer is not always clear.   If you are a general partner in a

If you are reading this post you probably report your business on Schedule C of your Form 1040 or Form 1065 (for Partnerships).   Have you noticed that the self-employment tax significantly drains your cash? The S corporation may plug a good chunk of that leak because only the W-2 wages that the S corporation

The IRS noticed that average gas prices across the United States exceeded $5.00 a gallon and took action.   Small businesses that qualify to use and do use the standard mileage rate can deduct 62.5 cents per business mile from July 1 through December 31, 2022. That’s up 4 cents a mile.   This brings

Are you loving the 21 percent corporate tax rate and now keeping more money inside the corporation?   If so, beware of the accumulated earnings tax. You can easily overlook it. You likely don’t have the proper documentation to avoid it. And it’s expensive.   The accumulated earnings tax is a 20 percent corporate-level penalty

It is getting increasingly popular for individuals to use self-directed IRAs to invest in alternative investments—that is, investments in things other than stocks, bonds, CDs and the like. The single most popular alternative investment for self-directed IRAs is real estate. With real estate values continuing to climb, you may be thinking about establishing your own