If you earn income that’s not subject to tax withholdings, you’ll want to consider making estimated tax payments. Due four times each year, estimated tax payments are applied to your current year tax liability. Here […]
Tax Smarts: A Guide to Estimated Tax Payments Read More »
FinCEN Form 114, formerly referred to as “FBAR”, Report of Foreign Bank and Financial Accounts, is used to report a financial interest in or signature authority over a foreign financial account. The “FBAR” is due
Accelerated Due Date for FinCEN Form 114 Read More »
Form 1099-MISC along with many other informational returns are due to recipients at the end of this month. Last year, I gave a brief outline of who may be be required to file. Penalties for
Due Date for Forms 1099 Quickly Approaching Read More »
This past September, the IRS proposed a regulation that would require charitable organizations to collect personal information from its donors and file information returns with the IRS with this personal information for donations over $250.
Controversial Charitable Contribution Regulation Withdrawn Read More »
Falling behind on payroll taxes? Expect a call from the IRS soon. In a recent news release, the IRS announced its plans to launch a new initiative aimed at monitoring payroll deposit patterns. Employers that
IRS to Begin Contacting Employers with Late Payroll Tax Payments Read More »
Last week President Obama signed into law the Highway Bill, a five-year $305 billion law that will focus on improving highway and transit projects. Included in that law were two controversial provisions that didn’t receive
Highway Bill Gives IRS Power over Passports Read More »
With the 2015 tax filing season quickly approaching, I thought I would share this article the IRS published earlier this month about how to “Make a Wise Choice when Selecting a Tax Preparer”. I summarized
How to Choose a Tax Preparer Read More »
With the 2014 Tax filing season behind us, whitehouse.gov‘s interactive tool shows you exactly where your tax dollars were spent. It’s no surprise that over 50% of your taxes went to health care and national
Where did your tax dollars go in 2014? Read More »
The IRS recently revised legislation that previously kept the statute of limitations open for 6 years for any understatement of income greater than 25% of gross income. The new law now provides that an in
Store or Shred? What you need to know about document retention Read More »
As the year winds down, there is nothing more important than discussing year-end tax strategy. Building communication between yourself, your CPA, and your investment advisor will guarantee you are a winner come April 15. Far
Five Tax Strategies Now for Refunds in April Read More »
This is a question I get asked often from new clients. In short, 1099s are issued by businesses (sole-proprietors, LLCs, partnerships, corporations, etc.) who’ve made payments in excess of $600 to individuals or other businesses
Am I required to file Form 1099-MISC for 2014? Read More »
