While official numbers for 2016 are not yet released by the Internal Revenue Service (IRS), many figures are formulas set within the Internal Revenue Code (IRC) or are based on the Consumer Price Index (CPI) published by the Department of Labor. Using the release of recent CPI
Read more →Contractor or Employee? How the Income Tax Obligations Differ It’s a very important distinction, and one that can get you in hot water if you misclassify workers. Full-time employees of companies often look at independent contractors with envy. They can generally work whatever hours they want. They
Read more →With rapidly increasing costs in both health care and in college tuition, deciding which is more important can be a real dilemma. Here are some thoughts. As our students settle in to the new school year, many families face the difficult decision to save for retirement or
Read more →Did you know you can rent out your home or vacation property for up to 14 days and not need to claim the income? Here are some tax tips to take advantage of this opportunity. Most income you receive is taxable income that is reported to you
Read more →From the IRS: “IRS Summertime Tax Tip 2013-24 Ten Tax Tips for Individuals Selling Their Home If you’re selling your main home this summer or sometime this year, the IRS has some helpful tips for you. Even if you make a profit from the sale of your
Read more →The IRS issues 7 facts about the Saver’s Credit IRS Tax Tip 2013-27, March 6, 2013 “Saving for your retirement can make you eligible for a tax credit worth up to $2,000. If you contribute to an employer-sponsored retirement plan, such as a 401(k) or to an
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