Missouri Tax and Business Blog

This blog focuses on a variety of issues affecting individuals and small businesses. Topics for individuals include taxes, identity theft, security among other relevant issues. Small business owners can see topics about taxes, tax planning, marketing and other business issues/topics.

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Posts from Mar-21

23 July 2021

August 2021 Due Dates

Here are the tax due dates for individuals and businesses for August 2021.

David M Robson

Small Business

22 July 2021

Everything You Need to Know About Medical Practice Financing

Whether you are a physician with a well-established medical office, or you’ve just completed your residency and are getting set up, obtaining funding for a medical practice is different from applying for a standard business or personal loan. Though those differences do not necessarily mean that the process is more difficult, they do mean that you need to carefully assess your needs and identify the approach that fits them best

David M Robson

Small Business

22 July 2021

35 Million: The Total Backlog of Tax Returns The IRS Had At The End Of Tax Season

The Internal Revenue Service has released a midyear report to Congress that details a significant backlog of tax returns dating back to the end of tax filing season, and many of those returns have yet to be processed. While backlogs are not unusual, this year’s is far greater than in previous years.

David M Robson

Small Business

22 July 2021

How Long Should You Keep Old Tax Records?

This is a common question: How long must taxpayers keep copies of their income tax returns and supporting documents?

David M Robson

Small Business

21 July 2021

The Many Benefits of 401(k) Profit-Sharing Plans

If you are an employer looking for an attractive employee benefit that lets you plan contributions around your revenues, consider a 401(K) profit-sharing plan. These plans allow you to make pre-tax deposits to your employees’ eligible retirement accounts after the end of each calendar year, providing the flexibility to determine exactly how much you want to contribute based on your finances and goals.

David M Robson

Small Business

21 July 2021

Here’s how to take a page from the ultra-wealthy playbook and make full use of Roth Individual Retirement Accounts

We’ve all heard the term “the rich get richer.” It turns out that one of the ways that truism is perpetuated is through the strategic use of tax-sheltered Roth individual retirement accounts (IRAs). The good news is that the same approach is available to the man on the street. The only thing you need is the know-how.

David M Robson

Small Business

20 July 2021

IRS Extends COVID-19 Relief Leave Donations

The IRS recently extended leave donations through 2021. Check with your employer to see if they are participating and for more details. It is an opportunity for you to make donations without costing you out of pocket cash.

David M Robson

Small Business

15 July 2021

Contemplating Refinancing Your Home Mortgage? Things You Should Consider

With home mortgage rates at historic lows, it may be appropriate for you to consider refinancing your current mortgage. However, refinancing may not always be the greatest idea, even though mortgage rates are low, and even when your friends, relatives, and coworkers are bragging about the low interest rates they got with their refinance. This is because a number of issues must be considered when refinancing.

David M Robson

Small Business

13 July 2021

Tax Rules for Home Flippers

With mortgage interest rates low, flipping real estate appears to be on the rise. This activity is even the theme of several popular reality TV shows. House flipping is, essentially, purchasing a house or property, improving it and then selling it (presumably for a profit)

David M Robson

Small Business