If I am using my earnings (W2 paycheck) to fund my own new separate legal business, what can I deduct (assume loss for tooling/prototypin…

My answer to If I am using my earnings (W2 paycheck) to fund my own new separate legal business, what can I deduct … Answer by Wray Rives: If you are just at the tooling and prototyping stage in your business, you need to capitalize and amortize these initial cost to develop whatever it is Read more about If I am using my earnings (W2 paycheck) to fund my own new separate legal business, what can I deduct (assume loss for tooling/prototypin…[…]

How much do accountants charge to do a fairly complex individual tax return?

Answer by Wray Rives: Fees for tax preparation do vary geographically; however, tax work is also an area of accounting that lends itself well to being done remotely which can eliminate that as a consideration.  I won't say that no one charges based on income levels or perceived ability to pay, but they should not. Read more about How much do accountants charge to do a fairly complex individual tax return?[…]

Understanding an 83(b) Election

If you have been involved with a startup company, you very likely have run into grants of restricted stock and the decision if you should make an 83(b) election. Basically an 83(b) election is a choice you make to assert your rights under section 83(b) of the Internal Revenue Code. Section 83 deals with the Read more about Understanding an 83(b) Election[…]