An employer enjoys several advantages when it classifies a worker as an independent contractor rather than as an employee. For example, it isn’t required to pay payroll taxes, withhold taxes, [...]
Information courtesy of IRS.gov 1. If you have a capital gain on the sale of your home, you may be able to exclude your gain from tax. This rule may apply [...]
Information courtesy of IRS.gov Are you donating your services to charity this summer and will travel as part of the service? If so, some travel expenses may help lower your taxes when you [...]
Information courtesy of IRS.gov The IRS offers the following tips to avoid tax scams. Thieves don’t stop victimizing unsuspecting taxpayers with their scams after April 15. Identity theft, phone [...]
With the gift and estate tax exemptions currently at $5.34 million, you might think that estate valuations are less important. But even if you believe that your estate’s value is [...]
Getting married this summer? Be aware of the tax issues that come along with marriage. The IRS offers the following reminders. Name change. The names and Social Security numbers on [...]
Exerts from an article by Rachel L. Sheedy on MSN Money If you are thinking about retirement, the following may keep you from it. You're not saving in a retirement [...]
Summer is a common time to put a home on the market. If you’re among those who are following this trend, it’s important to be aware of the tax consequences. [...]
Restricted stock is stock that’s granted subject to a substantial risk of forfeiture. Income recognition is normally deferred until the stock is no longer subject to that risk or you [...]
1. Your expenses must be for the care of one or more qualifying persons. 2. Your expenses for care must be work-related. Which means you must pay for the care [...]
In general, when meal and entertainment expenses are incurred in the context of an employer-employee or customer–independent contractor relationship, one party will be subject to a 50% limitation on the [...]
Major events like hurricanes, tornadoes and fires can strike any time. It’s a good idea to plan for what to do in case of a disaster. You can help make [...]
First and foremost, don’t take a lump-sum distribution from your old employer’s retirement plan. It generally will be taxable and, if you’re under age 59½, subject to a 10% early-withdrawal [...]
IRS.gov offers tips explaining withholding to your student. Here are a few important tips to help explain withholding and tax information. 1. Don’t be surprised when your employer withholds taxes from [...]
The passing of Memorial Day marks the beginning of summer in the minds of many Americans. Although the kids might still be in school for another week or two, summer [...]