Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may [...]
The Tax Cuts and Jobs Act (TCJA) imposes a new limitation on deductions for business interest expense. The IRS recently issued guidance in the form of proposed regulations. The business [...]
Information courtesy of IRS.gov Taxpayers who have deducted the business use of their car on past tax returns should review whether or not they can still claim this deduction. Here’s [...]
Tax Planning for Individuals The summer months are a good time to brainstorm tax planning strategies. Some ideas will help cut your tax bill for the current year; others will allow [...]
Information courtesy of IRS.gov Taxpayers should be aware of tax law changes related to alimony and separation payments. These payments are made after a divorce or separation. The Tax Cuts [...]
Does your business need to add one or more vehicles? If so, the purchases may qualify for tax breaks under current tax law. Here are the details. First-Year Depreciation Breaks [...]
If you’re lucky enough to be a winner at gambling or the lottery, congratulations! After you celebrate, be ready to deal with the tax consequences of your good fortune. Winning [...]
Taxes are a major consideration in mergers and acquisitions (M&As). The parties generally can structure a business purchase as either: An asset purchase. The buyer can purchase all or some of the [...]
During your working days, you pay Social Security tax in the form of withholding from your salary or self-employment tax. And when you start receiving Social Security benefits, you may [...]
Information courtesy of irs.gov Educators may be able to deduct unreimbursed expenses on their tax return. This deduction can put money right back in the pockets of eligible teachers [...]
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may [...]
If your small business is unincorporated, you may be fed up with paying the federal self-employment (SE) tax. This tax is how the federal government collects Social Security and Medicare [...]
You’ve probably seen or heard ads urging you to donate your car to charity. “Make a difference and receive tax savings,” one organization states. But donating a vehicle may not [...]
When a loved one who was "financially comfortable" passes away, his or her family must deal with the emotional issues that come with the loss — as well as winding [...]
If large uninsured medical expenses were accrued, but not paid, before death, the executor must make a potentially important choice about how they're treated for federal tax purposes. The executor [...]