Meal, vehicle and travel expenses are common deductions for businesses. But if you don’t properly document these expenses, you could find your deductions denied by the IRS. A critical requirement Subject to various rules and […]
Business deductions for meal, vehicle and travel expenses: Document, document, document Read More »
Interested in what’s happened over the last three months this year? I’ve summarized the key tax developments that may affect you, your family, your investments, and your livelihood. President Trump reveals tax reform plan. The
Third Quarter Tax Updates Read More »
Tapping into your 401(k) as if it were a rainy day fund should always be a last resort. Many individuals are not aware of the negative tax implications of an early withdrawal from a retirement
What Is The True Cost Of An Early Withdrawal From Your 401(k)? Read More »
This Giving Tuesday, remember that donations to eligible organizations, cash or non-cash, are tax deductible and may reduce your tax liability come spring filing season. Are you eligible to claim charitable donations on your taxes?
Reminder: Donations this Giving Tuesday May Help Reduce Tax Bills Read More »
President-Elect Trump declared in several interviews that lowering taxes is one of his top priorities. Those that are betting on him delivering this promise and passing reformation through a Republican controlled congress should consider deferring
Year-End Tax Moves – Speculating on President-Elect Trump’s Tax Cuts Read More »
As the 2016 tax year winds down, there is no better time than now to get your finances in order. Let’s face it, the last thing you want to think about during the holiday season is
When to File? Important Changes to Due Dates and more Read More »
While taxes may be the last thing on your mind when going through a divorce, these events can have a big impact on your income. Alimony and a name or address change are just a few
Recently Divorced or Seperated? Here’s What You Need to Know Read More »
The IRS recently launched a new resource center on IRS.gov aimed at providing tips for individuals that are taking part in the sharing economy. The past few years, the sharing economy has changed the way
The Sharing Economy & How It Impacts You Read More »
The Social Security Administration’s Office of the Chief Actuary (OCA) has projected an increase in the current Social Security wage base from $118,500 (2015 & 2016) to $126,000 for 2017. This is bad news for
Proposed Increases to the Social Security wage base 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 »
