Blog

Many small business owners can't do their jobs alone. They often outsource help for certain tasks, which may include the use of contractors. The benefit of using contractors is that the employer does not need to offer them benefits, pay Social Security, Medicare, or state unemployment insurance. However, MA recently redefined how independent contractors are classified meaning more people will be considered employees in Massachusetts. This can have big implications for business owners who try to manage their costs.

One of the more common ways people make money outside of their day jobs is through rental properties. With the emergence of easy-to-use apps like Airbnb, you no longer need a separate property to rent, but can now easily rent out a room in your home at your convenience. While this can be a great way to earn a little extra money, these short-term rentals are now subject to an additional tax in the state of Massachusetts. If you rent out a summer home or part of your personal residence this new tax may apply to you.

New Hampshire is typically known as a low tax state. Although it has higher than average property taxes, it does not tax income earned from work and does not have a sales tax. However, New Hampshire does have a lesser known tax on income, specifically an interest and dividends tax. If you've lived in NH your whole life and haven't heard of this tax, you're not alone. This tax does not apply to everyone, but with short-term interest rates at their highest level of the past decade, it's possible that this will apply to more and more people living in the Granite State.

Many know New Hampshire for its scenic mountains, quaint wildlife, cheap alcohol, and low taxes. In fact, New Hampshire is one of only five states without an income tax or sales tax. However, we all know that government cannot function without revenue and New Hampshire's government needs to take in money somehow. So how does New Hampshire get its revenue? If you live in this state, or have considered moving here, you're well aware of the high property taxes assessed to its residents. But how are these property taxes calculated? In this post we'll explore this very question along with how this may impact you at tax time.

If you live in New Hampshire or Massachusetts, you've likely heard about the Equifax security breach that occurred in 2017. This was the attack where hackers were able to get personal information of more than 145 million Americans. Recently, Equifax has agreed to a settlement of up to $700 million dollars to compensate individuals impacted by the breach.

If you do any amount of research online, you'll find financial advisors everywhere touting the benefits of the Roth retirement account. However, what is often less discussed are the differences between the Roth IRA and the Roth 401(k). What exactly are the differences, and how does this impact your retirement savings? There are pros and cons to each and they're not as similar as you might think.