Ever thought about renting your home for holiday travelers or summer vacationers? Or maybe during a music festival or race? There are tax implications that come with this type of real estate. Before you take the plunge, read this informative article by Mike D’Avolio, CPA, J.D. for the Journal of Accountancy.
Author: Debra Watkins
How To Become Rich
Here in Austin especially, there are plenty of wealthy people who don’t wear the latest fashions or drive the best cars, an indication that they may already know the ten “secrets,” Jocelyn Black Hodes offers in her article for MarketWatch.com, 10 things rich people know that you don’t.
Taxes?
What do you think about taxes? Are they a good way to support public services? How do you vote when raising or lowering taxes is on the ballot? What would you do without, say, your public library?
In the current anti-tax climate, some towns are finding it hard to produce enough money to keep even basic city services afloat.
Where Anti-Tax Fervor Means ‘All Services Will Cease’
Try It Then Buy It
Try it before you buy it at Sephora! The nations number one speciality beauty retailer has added all kinds of new touches to their in-store shopping experience. For example, see yourself in all kinds of lashes, experiment with a range of perfumes, or let a stylist apply foundation from their large collection. In a selfie obsessed and friend critiquing world, this allows the customer to get a feel for the cosmetics before they make a purchase. It also inspires shoppers to spend lots more time in the store. Sephora is finding that the longer they stay, the more they buy.
Instagram For The Win
As social media use continues to escalate around the world, you might be surprised to learn who is leading the pack. Even with over two billion users, Facebook isn’t growing at the rapid rate of Instagram, who last year gained 100 million users in six-months. Farhad Manjoo for the New York Times dives deeper into the intricacies of our love for (and frustrations with) social media in his article, Why Instagram Is Becoming Facebook’s Next Facebook.
Last Minute Tax Prep?
Did you wait until the last minute to prepare your taxes this year? You do have an extra three days, the deadline is April 18th. Have questions? Need to know about forms and deductions? Try this article from the New York Times and if that doesn’t get you where you need to be,
give me a call!
Employee Manipulation?
After a string of issues involving both customer and driver dissatisfaction, Uber has vowed to make new investments into the driver experience. But even as they talk about changes, the company is still engaged in a massive behavioral experiment in order to entice drivers to work more and longer hours, at times in less lucrative areas.
Noam Schreiber for the New York Times thinks that, “By mastering their workers’ mental circuitry, Uber and the like may be taking the economy back toward a pre-New Deal era when businesses had enormous power over workers and few checks on their ability to exploit it.” Read more here: How Uber Uses Psychological Tricks to Push Its Drivers’ Buttons
Home Office Deductions
As we enter tax season, it’s time to examine a variety of deductions you may be eligible to take. Home office deductions are a simple way to recoup money when using your home as an office space. Those who are self-employed or part of an LLC have one form to complete this process, but S-Corp brings a new challenge. Thank you to wilsonrogers.net for this detailed description of how to legally claim this important deduction.
S-Corp Home Office Deduction
Save A Penny, Watch It Grow
Did you know that saving $667.95 in a year is as easy as putting your spare change into a jar each night? With this simple formula and free printable provided by Smart School House, you could be on your way to a great weekend trip or some extra Christmas cheer. It also makes a good savings activity for children. Try it and let us know how it goes for you!
Tips For Personal Finances When the Fed Hikes Rates
With the recent rise of the benchmark federal funds rate, Karla Bowsher for Money Talks News suggests three simple steps individuals can take to reduce the impact on their finances.
- Look for a better credit card rate.
- Lock in a mortgage rate.
- Compare rates on savings (plans and funds).
This is the third hike in recent months following an eight year period where the rates were held in a range of zero to 0.25. For more information on how to best utilize these tips, read the full article here, The Fed Hikes Rates Again: 3 Steps You Should Take Now.