tax implications

selling a business

Don’t Overlook Tax Considerations When Selling Your Business

When the COVID-19 pandemic first hit, economic uncertainty caused many business owners contemplating a sale — as well as many prospective buyers — to put their plans on hold. Now that there’s some light at the end of the pandemic tunnel, interest in buying and selling businesses seems to be picking up. If you’re thinking…

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winning money lottery gambling tax implications

The Tax Implications of Being a Winner

If you’re lucky enough to be a winner at gambling or the lottery, congratulations! After you celebrate, be ready to deal with the tax consequences of your good fortune. Winning at gambling Whether you win at the casino, a bingo hall, or elsewhere, you must report 100% of your winnings as taxable income. They’re reported…

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