The siren call of boat ownership is easy to understand, here in South Florida. On a hot summer day, or even a crisp winter afternoon, getting out on the water for some sailing, fishing, snorkeling or water skiing can seem like the perfect reason to take the plunge. If you are ready to invest in a boat of your own, whether a modest fishing boat or a high-end yacht, it is worthwhile to pause and consider the tax implications.
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Whether your old car has given up the ghost or you just like “new car smell,” getting a new ride is a major financial decision. Before you start scheduling test drives, take some time to seriously consider whether you ought to buy or lease.
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Becoming a homeowner represents a major life milestone. But from a financial point of view, purchasing a home is not a one-time event; it is the foundation for a variety of strategies over the course of a lifetime.
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Long before we are old enough to carry credit cards ourselves, advertisers make sure we know about the power of plastic: “It’s everywhere you want to be.” “It pays to Discover.” “What’s in your wallet?” While using an ad campaign to choose a card is a terrible idea, the slogans have one thing right: A credit card can be a powerful thing.
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Most self-published authors are probably more comfortable writing books than publishing them. These days, many services and resources are available to help an aspiring self-publisher. In Part One of this series, I discussed the tax considerations relevant to authors who intend to self-publish. As publication approaches, however, these considerations will inevitably begin to shift.
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A Partnership Is In The Eye Of The Beholder. If the beholder happens to be the Canada Revenue Agency (CRA), and the partnership is a limited liability partnership (LLP) or limited liability limited partnership (LLLP) from Delaware or Florida, the partnership is actually a corporation for Canadian tax purposes.
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Nominating a trustworthy and caring guardian for your children is one of the most important choices you can make on their behalf.
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Whether or not you believe the old chestnut that everyone has a book in them, it is undoubtedly true that those who do have many more options these days for getting that book into the world. If you venture into self-publishing, you will confront all sorts of complexity, not the least of which are the many tax issues to consider.
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The world is oversupplied with oil, U.S. interest rates are rising and international prospects look dim, with slowing growth in China and persistent troubles in Europe and Japan. How should investors react?
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This time last year, taxpayers had to provide health insurance information on their income tax returns for the first time. As with any new tax-reporting provision, the process proved more burdensome for some than for others. The second year could bring its own set of unpleasant surprises.
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