Kiddie Tax is the tax imposed by the Tax Reform Act of 1986 on investment income belonging to children.
It applies to all unearned income. That includes not only all types of investment income but also distributions from traditional IRAs and 401(k)s and some Social Security survivor benefits.
When I say Year End, what do you think about? That last big marketing push to close as much business as possible before New Year’s Eve? Whatever you think about, I’ll bet it isn’t any of the things you need to do to eliminate Year End Tax Drama.
If you’re like most new entrepreneurs, you assume that whatever you start will be called a business. … Consulting … network marketing … real estate … jewelry making … selling on eBay … you name it.
A few years ago, I read an article that stated the average cost of starting a small business in the US was a whopping $67,000. And even then, I thought it was underestimated.
If you’ve ever been to a seminar where the person on stage was talking about business – whether it’s network marketing, real estate, or writing a food blog – at some point they probably claimed that one of the perks of owning your own venture is that you can write off all your travel, regardless of where you go. Is that true?
