Combine business travel and a family vacation without losing tax benefits
Are you thinking about turning a business trip into a family vacation this summer? This can be a great way to fund a portion of your vacation costs. But if [...]
Midyear Tax Planning Inspired by PATH Act
Couple Calculating Budget Numerous tax breaks have been retroactively expanded for 2015 and beyond — or, in some cases, been made permanent — under the Protecting Americans from [...]
Stock market volatility can cut tax on a Roth IRA conversion
This year’s stock market volatility can be unnerving, but if you have a traditional IRA, this volatility may provide a valuable opportunity: It can allow you to convert your traditional [...]
How many employees does your business have — for ACA purposes?
It seems like a simple question: How many full-time workers does your business employ? But, when it comes to the Affordable Care Act (ACA), the answer can be complicated. The [...]
How summer day camp can save you taxes
Although the kids might still be in school for a few more weeks, summer day camp is rapidly approaching for many families. If yours is among them, did you know [...]
Putting your home on the market? Understand the tax consequences of a sale
As the school year draws to a close and the days lengthen, you may be one of the many homeowners who are getting ready to put their home on the [...]
Qualified Small Business stock offers 2 valuable tax benefits
By investing in qualified small business (QSB) stock, you can diversify your portfolio and enjoy two valuable tax benefits: 1. Tax-free gain rollovers. If within 60 days of selling QSB [...]
Unexpected retirement plan disqualification can trigger serious tax problems
It’s not unusual for the IRS to conduct audits of qualified employee benefit plans, including 401(k)s. Plan sponsors are expected to stay in compliance with numerous, frequently changing federal laws [...]
Did you get a letter in the mail from the IRS?
Information from irs.gov Every year the IRS mails notices and letters to taxpayers for a variety of reasons. Here are a few facts you should know if you receive a notice [...]
Why it’s time to start tax planning for 2016
Now that the April 18 income tax filing deadline has passed, it may be tempting to set aside any thought of taxes until year end is approaching. But don’t succumb. [...]
IRS Offers Payment Options
Information from irs.gov The IRS offers many payment options — if you owe federal tax. Never send cash. You can pay online, send a check via USPS, pay by phone or [...]
Late filing penalties and interest
If you do not file your tax return by the deadline and you fail to pay on time, you will usually owe interest and penalties on the tax you pay [...]
What 2015 tax records can you toss once you’ve filed your return?
The short answer is: none. You need to hold on to all of your 2015 tax records for now. But this is a great time to take a look at [...]
Estimated Tax Payments
Information form irs.gov If you don’t have taxes withheld or you don’t have enough tax withheld, you may need to make estimated tax payments ( If you are self-employed you [...]