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 [...]
Answers to Your Questions about Marital Status and Tax Returns
When a couple gets married or divorced, taxes are probably not the first thing on their minds. But many decisions that couples make do affect their tax returns — and the amount [...]
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 [...]
Handle with Care: The Nanny Tax Rules
When you hire a nanny, housekeeper or other domestic worker, pay close attention to the tax rules. Over the years, there have been news stories about political appointees and others [...]
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 [...]
Absorbing a Business? Realize Payroll Tax Savings
Conversely if one employer acquires another employer during the year -- and it continues to employ some of the same workers -- the successor can count the wages paid by [...]
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 [...]
Individual Tax Calendar: Important Deadlines for the Remainder of 2018
While April 15 (April 17 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that you also need [...]
Haven’t Filed Your 2017 Income Tax Return Yet? Beware of These Pitfalls
The federal income tax filing deadline is slightly later than usual this year — April 17 — but it’s now nearly upon us. So, if you haven’t filed your individual [...]
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 [...]
There’s Still Time to Make a 2017 IRA contributions
Tax-advantaged retirement plans like IRAs allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. The deadline for 2017 contributions is April 17, 2018. Deductible [...]
2018 Q2 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 second quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may [...]