America’s Progressive Tax System: Explained
The U.S.’s progressive tax system charges higher tax rates for higher earners. This system is designed to ensure taxpayers of various income levels pay a fair tax rate at the […]
Author: Sean Farrell
Posts by Sean Farrell
A Guide to the Bonus Depreciation Phase Out 2023
What is bonus depreciation? It’s the opportunity to take accelerated depreciation and write off your asset purchase quicker than is usually allowed. And what’s with the bonus depreciation phase out […]
Can Offering Escrow Help Freelancers Land More Clients?
Freelancing has a lengthy set of perks, including the ability to set your own hours, rates, and contract terms. The flexibility is a big plus, but there are downsides too. […]
NFT Taxes: Everything You Need to Know
Are you new to the world of NFTs? If so, you may wonder about the tax implications of owning and using these digital assets. This blog post will overview how […]
Roth IRA for Kids: Rules and Contributions
Most people realize that a ROTH IRA is a good investment that allows retirement funds to grow tax-free. You can withdraw these funds tax-free in retirement. But what most people […]
UTMA Account Rules: Taxes on Investment Accounts for Minors
Starting an investment account for a child can give them a head-start in life, but when choosing the right account type, you need to consider your goals and the child’s […]
Michael Tripp’s WSJ (Wall Street Journal) Feature
Summer is a time when many teens and students seek a part-time or full-time temporary job. The shared economy is full of opportunities, some of which even allow them […]
Schedule C vs Schedule E for Airbnb Income
Many things set Airbnb hosting apart from other rental properties. Let’s discuss this big difference: some Airbnbs qualify as non-passive income and are reported on Schedule C. Furthermore, this post […]
1099 NEC vs MISC: Key Differences and Uses
Modern businesses are increasingly relying on independent contractors to fill jobs and essential roles, and 1099 Forms are becoming more and more common on tax returns. However, determining the right […]
Is HELOC Interest Tax Deductible?
Owning a home comes with many tax benefits, but knowing what is tax-deductible can be a little tricky. It gets even more complicated when you have a mixed- or dual-use […]