Category: Timely Articles

Do You Have a Deductible Business Loss or a Nondeductible Hobby Loss?

There’s a fine line between businesses and hobbies under the federal tax code. If you engage in an unincorporated sideline — such as a marketing director by day and an artist on the nights and weekends — you may think … Read More »

November 21st

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Real Estate Investors: Let’s Talk about Like-Kind Exchanges

Are you thinking about divesting a real estate investment and then replacing it with another property? If you sell appreciated property outright, you’ll incur a taxable gain, which lowers the amount available to spend on the replacement property. But you … Read More »

November 17th

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Help from the IRS for Hurricane Irma Victims

Hurricane Irma has left many victims in parts of Florida, the U.S. Virgin Islands and other areas unable to fulfill their tax responsibilities and perform some key tax-related responsibilities. In response, the IRS is offering Hurricane Irma victims extra time … Read More »

November 10th

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Recent Breach Highlights the Vulnerability of Your Personal Data

Equifax, one of the nation’s three major credit reporting agencies, recently reported a massive data breach. Are you among the 143 million U.S. consumers whose personal information was hacked? Here’s how to find out — and how to help protect … Read More »

Sharing Tax Issues in the Sharing Economy

Do you provide car rides through a mobile app, rent out your spare room using an online platform or repair computers for local businesses on demand? If so, you may be considered part of the “sharing economy” (also known as … Read More »

Understand Your Social Security Retirement Benefits

People approaching retirement age often have questions about benefits they may be eligible to receive from the Social Security Administration (SSA). Here are common concerns regarding the Social Security system.

Collecting Retirement Benefits

According to the 2017 report by the Social Security … Read More »

Understand How the Definition of Independent Contractor Has Changed Again

Whether someone who performs work for you qualifies as an employee or an independent contractor matters a great deal in terms of your financial and legal obligations to that individual. This includes such issues as whether your business must pay … Read More »

September 26th

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Wedding Bells: Tax Issues to Consider Before Tying the Knot

Marriage changes life in many ways. Here’s how it may affect your tax situation.

Marital Status

Your marital status at year end determines your tax filing options for the entire year. If you’re married on December 31, you’ll have two federal income … Read More »

September 12th

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When Can You Purge Your Old Financial Records

Feeling the urge to purge? Before you clear your filing cabinets of old financial records, it’s important to make sure you won’t be caught empty-handed if an IRS auditor contacts you.

For Individuals

In general, you must keep records that support items … Read More »

Sales vs. Use Tax Article Published in Rapaport Magazine

Robert Hoberman was quoted in the article, “Sales vs. Use Tax”, which was published in the July 2017 issue of Rapaport Magazine. You can download or read the article here.