Net Investment Income Tax: Does It Apply to You?
Information from irs.gov If an individual has income from investments, the individual may be subject to net investment income tax. Effective Jan. 1, 2013, individual taxpayers are liable for a [...]
Factor in State and Local Taxes When Deciding Where to Live in Retirement
Many Americans relocate to another state when they retire. If you’re thinking about such a move, state and local taxes should factor into your decision. Income, property and sales tax [...]
2018 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be [...]
The TCJA Changes Some Rules for Deducting Pass-through Business Losses
It’s not uncommon for businesses to sometimes generate tax losses. But the losses that can be deducted are limited by tax law in some situations. The Tax Cuts and Jobs [...]
Be Aware of the Tax Consequences Before Selling Your Home
In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things [...]
Do Employers Have to Compensate Hourly Technicians for Travel Time?
The U.S. Department of Labor's (DOL) Wage and Hour Division (WHD) has issued a new Opinion Letter on whether employers must compensate employees for travel time. These letters are issued [...]
Do You Need to Adjust Your Withholding?
If you received a large refund after filing your 2017 income tax return, you’re probably enjoying the influx of cash. But a large refund isn’t all positive. It also means [...]
Capital Gains Rates Before and After the New Tax Law
Are you confused about the federal income tax rates on capital gains and dividends under the Tax Cuts and Jobs Act (TCJA)? If so, you're not alone. Here's what you [...]
Get started on 2018 tax planning now!
With the April 17 individual income tax filing deadline behind you (or with your 2017 tax return on the back burner if you filed for an extension), you may be [...]
Stakeholders and Your Business
Long ago business owners believed that as long as they served their customers effectively and made sure that their stock maintained or increased its value, all was taken care of. [...]
Tax Document Retention Guidelines for Small Businesses
You may have breathed a sigh of relief after filing your 2017 income tax return (or requesting an extension). But if your office is strewn with reams of paper consisting [...]
Congress Raises 401(k) Hardship Withdrawal Limits
Most 401(k) plans permit hardship withdrawals, though plan sponsors aren't required to allow them. As it stands today, employees seeking to take money out of their 401(k) accounts are limited [...]
Follow Detailed Recordkeeping Rules for Vehicle Expense Deductions
Many business owners fail to follow the strict tax rules for substantiating vehicle expenses. But if your business is audited, the IRS will most likely ask for mileage logs if [...]
No Single Factor Determines Contractor Status
Hiring someone as an independent contractor can have many advantages for employers. Among them are that independent contractors: Can be hired on a per-project basis and let go when the [...]