The 7 Best Tax Software Programs of 2019

The average cost of hiring a professional to prepare your tax return is about $275, at least if you have anything other than the simplest tax situation. That’s a lot of money to part with and it’s often unnecessary.

You can save yourself some money if you identify your tax-time priorities in advance and find software that will address them for you. Some programs are pricier than others, but they’re still generally cheaper than hiring a professional, and you’ll spare yourself having to cram all those tax documents into your briefcase or a box and head off to your accountant’s office. Read More

The New 2018 Form 1040

Along with tax reform changes from the Tax Cuts and Jobs Act (TCJA), taxpayers also have a new Form 1040 to grapple with for the 2018 tax year. The IRS introduced the concept of a whole new 1040 tax form early in 2018 on the heels of the Tax Cuts and Jobs Act which went into effect on January 1, 2018. Overall the new form is easier for simple filings and much shorter. However, taxpayers with somewhat complex filings will find a number of new changes and necessary addendums. Read More

Tax Law-Guide to Taxation Law

What is Tax law? It covers the rules, policies and laws that oversee the tax process, which involves charges on estates, transactions, property, income, licenses and more by the government. Taxation also includes duties on imports from foreign countries and all compulsory levies imposed by the government upon individuals for benefit of the state.

The intricate body of tax law covers payment of taxes to a minimum of four levels of government, either directly or indirectly. Indirect taxes are assessed against products and services that are meant to be consumed, but are paid to an intermediary. For example, when you buy coffee at a local corner store, the retailer charges you tax on your coffee, which he/she subsequently pays to the government. Direct taxes are those you pay directly to the government and are imposed against things like land or real property, personal property, and income. Read More

Employee Benefits and Compensation

Employee benefits typically refers to retirement plans, health life insurance, life insurance, disability insurance, vacation, employee stock ownership plans, etc. Benefits are increasingly expensive for businesses to provide to employees, so the range and options of benefits are changing rapidly to include, for example, flexible benefit plans.

Benefits are forms of value, other than payment, that are provided to the employee in return for their contribution to the organization, that is, for doing their job. Some benefits, such as unemployment and worker’s compensation, are federally required. (Worker’s compensation is really a worker’s right, rather than a benefit.) Read More

All About Consulting- Types, Skills, and Approaches

Many people have the mistaken impression that consultants are people who primarily give expert advice to solve problems for their clients. However, a much more accurate description is given by Peter Block in his seminal book, Flawless ConsultingBlock explains that a consultant is someone in a role to help another person, team or organization to change, but who has no authority to make them change. Thus, a consultant can be an advisor, trainer, coach or facilitator. Read More

How to Design Your Management Development Program

Most of us are so conditioned from many years in schooling that we think of learning and development as coming from a program in which our participation is graded by experts in a certain topic. As a result, many of us still miss numerous opportunities for our own learning and development. Perhaps one of the reasons is that we do not know what learning and development really is. So before undertaking a management development program, we should be sure that we know what we are talking about. Read More

Angel Investing vs. Crowdfunding: How to Raise Money for Your Startup?

Raising capital is one of the biggest challenges any startup can face, but fortunately, entrepreneurs have more than one option for getting the funding they need. Seeking out angel investors has its advantages, but crowdfunding is redefining how fledgling companies get off the ground. Both have their pros and cons, and it’s important to understand how they can impact your startup’s long-term outlook before diving in. (For more, see the tutorial: Starting a Small Business.) Read More

Invest through Equity Crowdfunding: Risks and Rewards (FB)

Equity crowdfunding refers to raising money from small public investors (who collectively form the “crowd”) primarily through online forums and social media. In exchange for relatively small amounts of cash, investors get a proportionate slice of equity in a business venture. In the past, business owners raised such funds by borrowing from friends and family, applying for a bank loan, appealing to angel investors, or by going to a private equity or venture capital firm.

Equity crowdfunding is rapidly gaining in popularity. According to the research firm massolution®, equity crowdfunding platforms raised $1.1 billion for business owners in 2014, a 182% increase form the previous year (see annual publication “2015 CF – Crowdfunding Industry Report“). But as with any mode of investment, investing through equity crowdfunding has risks and rewards. Would-be investors should first do their research. (For more, see “What Crowdfunding Means To Investors.”) Read More