College may look very different this coming semester with our continuing adaptation to COVID-19. However, many students will be returning or just starting their collegiate journey’s. If your child earned themselves a scholarship, first and foremost, celebrate! Second, let’s make sure this scholarship does not turn into tax burden for them or yourself. Scholarships (and […]

Have you even wondered why the income reported on your tax return for your partnership doesn’t really correlate with the cash you were distributed throughout the tax year? Why is this? The answer lies in the way partnerships and partners are taxed. Unlike regular corporations, partnerships aren’t subject to income tax. Instead, each partner is […]

As regulations and restrictions change, many business owners are seeking ways they can reopen and work towards normalcy once again. However, there are a variety of things to consider to avoid withdrawing the growth you have slowly started to build back. A widely circulated article about the COVID-19 pandemic, written by author Tomas Pueyo in […]

When receiving an inheritance, or planning for your estate, it is important to make sure you have the correct “cost” or “basis” for the assets involved. This will allow for a fair estimate of income or loss while also eliminating unnecessary taxes. If you’re planning your estate, or you’ve recently inherited assets, you may be […]

By bartering, you can keep the cash you have and offer a service or good which you have. Although it seems simple, there are tax implications despite the absence of cash in the exchange. Here’s how to keep your taxes in check. These difficult times have has forced many of us to adapt and to […]

A common mistake that some businesses will make is spending all their time and energy on their weaknesses and not capitalizing on their strengths. One way to focus on your strengths is to identify and explicate your unique selling proposition (USP). Give it some thought In a nutshell, a USP states why customers should buy […]

Were you met with the unexpected surprise of owing money on your 2019 tax return? You might want to change your withholding so that this doesn’t happen next year. You might even want to do that if you received a big refund. Receiving a tax refund essentially means you’re giving the government an interest-free loan.

Do you pay Nonemployee Compensation for your business? There is a new IRS form to keep on your radar. Beginning with tax year 2020, payers must complete Form 1099-NEC, Nonemployee Compensation, to report any payment of $600 or more to a payee. Why the new form? Prior to 2020, Form 1099-MISC was filed to report […]

The sudden shutdown of the economy in March because of the COVID-19 pandemic forced many businesses to rely more heavily on technology. Rudler has been on the forefront of technology, utilizing cloud based applications, remote employees and having employees work at home before it was required. We can draw on our experience to help you […]

The tax filing deadline for 2019 tax returns has been extended until July 15 this year, due to the COVID-19 pandemic. Our tax team at Rudler has put together a list of considerations for after your 2019 tax return has been successfully filed with the IRS. 1. Some tax records can now be thrown away […]