Delinquent Taxpayers May Experience Passport Issues
Let's say a person is planning to take a plane trip out of the country. And further suppose that individual owes the federal government a fair amount of back taxes. [...]
Let's say a person is planning to take a plane trip out of the country. And further suppose that individual owes the federal government a fair amount of back taxes. [...]
If your small business is strapped for cash (or likes to save money), you may find it beneficial to barter or trade for goods and services. Bartering isn’t new [...]
For years, the tax code has offered an incentive for employers to provide child care to their employees in the form of the Section 45F child care tax credit. But [...]
In January 2024, the U.S. Department of Labor (DOL) issued its long-awaited final rule related to employment status under the Fair Labor Standards Act (FLSA). The new rule carves out [...]
New 401(k) contribution limits for 2024 In 2024, individuals will be able to contribute more to their 401(k) plans, up to $23,000. The same is true for 403(b) plans [...]
Some people mistakenly believe that Social Security benefits are always free from federal income tax. Unfortunately, that’s often not the case. In fact, depending on how much overall income [...]
The head of household (HOH) federal tax filing status is often misunderstood by taxpayers who might qualify, including single, divorced or legally separated parents, and taxpayers who support adult family [...]
With the high cost of college, many parents begin saving with 529 plans when their children are babies. Contributions to these plans aren’t tax deductible, but they grow tax [...]
Is your business struggling with a shortage of skilled workers in today's tight labor market? One possible option is to invest in education programs to upskill your current employees. This [...]
Did you give large gifts to your children, grandchildren, or others last year? If so, it’s important to determine if you’re required to file a 2023 gift tax return. [...]
Do you own a vacation home in the mountains or near the water where you can enjoy some much-needed rest and relaxation? If you rent it to tenants while you [...]
When you file your tax return, a tax filing status must be chosen. This status is used to determine your standard deduction, tax rates, eligibility for certain tax breaks [...]
As tax season heats up, companies of all kinds and sizes will be on the hunt for ways to reduce their tax bills. One of the most common ways is [...]
If you pay over half the cost of supporting a parent, your parent is considered your dependent for federal income tax purposes. This treatment potentially entitles you to some significant tax [...]
Did you donate to charity last year? Acknowledgment letters from the charities you gave to may have already shown up in your mailbox. But if you don’t receive such a [...]