March 2023

Hello everybody!

Just a reminder that 2022 Extensions & 2023 1st quarter estimates are due by 4-18-23

* if you have an s corporation or multi-member LLC, those were due last month, on 3-15-23)

* see also information below for Arts tax & reporting of Foreign Bank Accounts.

Whether or not we’re in a recession or a recession is on the horizon is a debate for pundits and economists. But you don’t have to be a fortune teller to know that a future recession will eventually come. The economy undulates like waves in the sea; sometimes it’s up and sometimes it’s down.

We live in a time when starting and running a home-based business is easier than ever. With a little bit of ingenuity, some seed money and a good internet connection, you can start and run all kinds of home-based businesses. From drop shipping to freelance graphic design to making and selling crafts, it’s all possible.

Being notified that you’re going to be audited is never good news. But it doesn’t have to keep you up at night. Although it can be a stressful and challenging process for you or your business, there are things you can do to prepare mentally, emotionally and in a practical way.

The first step in budgeting for the perfect vacation is to be realistic about yourself, your finances and the experience you’re about to have. The budget should be based on your financial resources and your savings goals. But it also needs to take into account that life is for living. Let’s face it. Economizing at home is one thing.