A typical tax filing can be relatively simple if you are taking that standard deduction. However, a lot of taxpayers become confused if they do not have enough deductions to itemize but they want to deduct expenses for a home-based
1099 filing deadlines are fast approaching. The IRS requires that you send a 1099 to any independent contractor you paid over $600 to during the 2014 tax year. The deadlines are as follows: January 31: All 1099s must be received
January is the start of tax filing season, and for small businesses, this means sending out their W2s and 1099s and getting all their paperwork and receipts together to send over to their accountant. There is another issue for entrepreneurs
Tax filing season is already here. And for individuals, this means that their returns are due by April 15. For businesses, however, certain deadlines are approaching much faster. For example, anyone with employees must send out a W2 (to each
As 2015 begins, the economy appears to be looking better across most industries. However, to ensure success in the New Year, it is important to make sure you have your finances and tax situation organized. Here is a quick checklist
Congress passed an omnibus-spending bill before leaving for Christmas that fully funded most of the government through September 2015, the end of the fiscal year. Nicknamed the “Cromnibus”, the bill did contain one continuing resolution (CR) component for the Department
Before leaving town for the year, Congress finally acted on a number of expiring provisions in the tax code. All in all, they passed 55 tax extenders retroactive to January 1, 2014. Some lawmakers wanted to make certain provisions permanent,
On Friday November 7, 2014, the U.S. Supreme Court agreed to hear an appeal in a challenge to a portion of the Affordable Care Act of 2010. The challenge has to do with the tax subsidies received by residents in
There are many ways to reduce your tax liability and the way to minimize your tax burden is by reducing your taxable income. There are a number of ways to accomplish this, from deferring income to maximizing your IRA/401K contributions.
Each year we deal with the hustle and bustle of the holiday season and we often fail to realize that there are tax-planning moves we can (and should) be making to minimize our tax burden for the year. While it
