Once again, with the signature of the Protecting Americans from Tax Hikes Act of 2015 (PATH Act), many popular tax items have either been made a permanent part of the tax code or have been extended to 2016 and beyond. Here are the more commonly used tax
Read more →Those dreaded words often lead to lost sleep and simple mistakes that could cost you money. Here are some tips to help you through the IRS audit process. Less than 2% of over 145 million individual tax returns filed during 2012 will be selected for audit. The
Read more →Wed 2 Deposit payroll tax for payments on Sep 25-27 if the semiweekly rule applies. Fri 4 Deposit payroll tax for payments on Sep 28-Oct 1 if the semiweekly deposit rule applies. Wed 9 Deposit payroll tax for payments on Oct 2-4 if the semiweekly deposit rule
Read more →Take a proactive approach to reduce your 2013 tax burden With the passage of massive 2013 tax law changes, you may be feeling a bit uncertain about how your ultimate 2013 tax liability will be affected. To avoid surprises at tax time, now is the time to
Read more →Congress recently passed legislation that will lower federal student loan rates. This legislation provides a level of certainty for all taxpayers. While more details will be forthcoming, here is what is known. New Rate Program Under the recently passed legislation, the rates for these loans will now
Read more →In 2013 federal tax legislation reintroduces the phase-out of itemized deductions for certain taxpayers. Because of this, many who are subject to itemized deduction phase-outs wonder if the benefit of charitable giving is reduced. Here is what you need to know. Most taxpayers are not impacted. The phase-out
Read more →Mon 1 File Form 730 and pay the tax on wagers accepted during May. Mon 1 File Form 2290 and pay the tax for vehicles first used during May. Mon 1 File Form 11-C to register and pay annual tax if you are in the business
Read more →Roth IRA or Traditional IRA? The answer is never easy, but perhaps asking the right questions can make your decision easier. Here are some thoughts. For most taxpayers, you have until April 15th of the following year to contribute up to $5,500 ($6,500 if age 50 or
Read more →Wed 5 Deposit payroll tax for payments on May 29-31 if the semiweekly deposit rule applies. Fri 7 Deposit payroll tax for payments on Jun 1-4 if the semiweekly deposit rule applies. Mon 10 Employers: Employees are required to report to you tips of $20 or more
Read more →The savings limits for the ever-popular Health Savings Accounts (HSA) are now set for 2014. The new limits are outlined here with current year amounts noted for comparison purposes. What is an HSA? An HSA is a tax advantaged savings account where part of your wages can
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