Between mortgages, car loans, credit cards, and student loans, most people are in debt. While being debt-free is a worthwhile goal, most people need to focus on managing their debt first since it’s likely to be there for most of their life. Handled wisely, however, that debt won’t be an albatross around your neck. You […]
Paying off Debt the Smart Way Read More »
Each year, the IRS mails millions of notices and letters to taxpayers for a variety of reasons. If you receive correspondence from the IRS here’s what to do: Don’t panic. You can usually deal with a notice simply by responding to it. Most IRS notices are about federal tax returns or tax accounts. Each notice
What to do if you get a letter from the IRS . . . Read More »
Did you know that a name change could impact your taxes? Here’s what you need to know: 1. Report Name Changes. Did you get married and are now using your new spouse’s last name or hyphenate your last name? Did you divorce and go back to using your former last name? In either case, you
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Some taxpayers may be required to pay an Additional Medicare Tax if their income exceeds certain limits. Here are some things that you should know about this tax: 1. Tax Rate. The Additional Medicare Tax rate is 0.9 percent. 2. Income Subject to Tax. The tax applies to the amount of certain income that is
What is the Additional Medicare Tax? Read More »
As we approach the end of summer, it is always a good idea to take a look at where you stand tax-wise, so you know whether or not you need to make some adjustments. Certain life events can incur tax consequences, and it is best to address these now, while you still have several months remaining in the year.
Tax Check Up: Life Changes That May Impact Your 2016 Taxes Read More »
On December 18, 2015, the Protecting Americans from Tax Hikes (PATH) Act was enacted, extending many important tax credits, and making a lot of them permanent. One of the areas in which these changes have the potential to enhance business startup activity is in the Research and Development (R&D) tax credit. Here are the changes
Changes to Research and Development Tax Credit Expands Opportunities Read More »
You may not know about the Alternative Minimum Tax (AMT) because you’ve never had to pay it before. However, your income may have changed and you may be required to pay it when you file your 2016 tax return next year. The AMT is an income tax imposed at nearly a flat rate on an
Five Things you Should Know About the Alternative Minimum Tax (AMT) Read More »
4 Ways for Small Businesses to Maximize ROI Running a small business is challenging, and especially in the early stages, turning a profit often seems elusive. One of the biggest issues for small business owners is finding the time to operate their business and bring in new customers at the same time. This is the
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If you pay for work-related expenses out of your own pocket, you may be able to deduct those costs. In most cases, you can claim allowable expenses if you itemize on IRS Schedule A, Itemized Deductions. You can deduct the amount that is more than two percent of your adjusted gross income. Here are five
Employee Business Expenses Read More »
Changes to Research and Development Tax Credit Expands Opportunities On December 18, 2015, the Protecting Americans from Tax Hikes (PATH) Act was enacted, extending many important tax credits, and making a lot of them permanent. One of the areas in which these changes have the potential to enhance business startup activity is in the Research
Changes to Research and Development Tax Credit Expands Opportunities Read More »
