Invest Like a Venture Capitalist

Posted Leave a commentPosted in aquaculture, Banking, Crowdfunding, Farming, Financial Planning, Tax Planning

One of the most overlooked tax savings strategies is to avoid federal income taxes on large capital gains. Allowing investments to grow tax free over decades can result in tremendous growth in wealth and is one of the most reliable paths to a tax-free retirement. This tax-free capital gain tax strategy is employed by almost […]

Legal impact of residency and domicile

Posted Leave a commentPosted in Banking, Financial Planning, Legal, Taxes

Taxes and a wide range of other legal and business issues are affected by the legal concepts of residency and domicile. Individuals who have physical connections to more than one state should carefully consider the implications of the laws in each state that may claim jurisdiction of any legal or business issue. In some cases it […]

IRS launches audits of bitcoin holders

Posted Leave a commentPosted in Accounting, Banking, cryptocurrency, IRS, Taxes

Bitcoin is the largest and oldest cryptocurrency so it makes sense that IRS would take enforcement action against these account owners first. Some owners may have heard incorrect information that their transactions were not taxable or that IRS could not get their account information. Both of these are false. IRS announced last year that it […]

Product review: Trim

Posted Leave a commentPosted in Banking, Computers and Internet, Financial Planning

I’ve written often about the fast-paced evolution of consumer finance software. In summary, our best programmers and artificial intelligence resources are focusing on this field for a number of reasons and consumers stand to gain. he field is highly competitive and exected to continue to evolve so that the value of product reviews like this […]

Law firm trust accounting overview

Posted Leave a commentPosted in Accounting, Banking, Law firm, Legal

This post is meant for non-lawyers and people who want a general understanding of the topic. Lawyers should rely on more specific sources including their state bar associations. Rules vary by state and jurisdiction. These are just general principles. Client funds that are not earned legal fees must be kept in separate accounts and not commingled […]

QuickBooks “Pay Bills Online” (New feature)

Posted 1 CommentPosted in Accounting, Banking, QuckBooks

I just set up and tested the internal “Pay Bills Online” feature of QuickBooks. Actually this is an integration between QuickBooks and Bill.com. The benefit is that bills can be paid without leaving the accounting software. (Prior to this I had to pay bills on my bank web site and then enter the payments manually […]

Small business problems with ‘bill pay’ services

Posted Leave a commentPosted in Banking, Small Business

One of the oddities of modern small business accounting is that banks have promoted services that send paper checks through the postal mail instead of transferring funds electronically. These are called ‘bill pay’ services. Some portion of these paper checks are ‘lost in the mail’ and some skeptical people wonder if this is the reason that […]