Blog
Planning for Retirement? Don’t Forget Your House
Real estate is an investment — one that many people forget about when planning for retirement. The home that you raised a family in isn’t the one you need for retirement. With kids out of the house and no reason for a big yard, you can...
Expecting to Add a New Little One to Your Household? Here are 7 Tax Strategies You Can Use
Children are expensive. From conception to diapers to day camp, all the expenses associated with little ones quickly add up. But if you’re expecting, you should know about the tax strategies that will save you some hard-earned cash over the...
Worker or Employee? How Workers Are Classified is Changing
With the recent focus on Uber and the way it exerts control over its 1099-classified drivers (whom the California Labor Commissioner’s Office recently ruled should be classified as employees, not contractors), the definition of an employee...
Students Can Now Apply for Financial Aid 3 Months Earlier
In 2016, students can start filing their FAFSAs as early as October 1, using the family’s tax data from the previous year. The President announced the change recently, saying the goal was to give families an earlier and more accurate idea of...
SC Flood Victims Eligible for Tax Relief & October 15 Tax Deadline is Extended to February 16
If you were affected by the recent South Carolina flooding, whether as a business or as an individual, and you filed an extension until October 15, you now have until February 16, 2016 to file and pay any taxes due. If you're a worker...
If You Receive the Premium Tax Credit and You’ve Moved This Year, Be Sure to Report Your Move
There’s a lot to remember to do when you move. But one thing you won’t want to forget, if you receive the premium tax credit, is to notify the Health Insurance Marketplace of your move. As the IRS recently announced, The Marketplace uses a...
IRS Interest Rates to Stay the Same for 4th Quarter
The IRS announced that interest rates on overpayments and underpayments will stay the same for Fourth Quarter 2015. Here are the details: 3% for overpayments (2% percent in the case of a corporation) 0.5% percent for the portion of a...
Don’t Forget Your Small-Business Succession Plan
According to a survey by CNBC earlier this year, while 78% of small-business owners intend to sell their businesses to fund their retirements, fewer than 30% have a written succession plan. At the same time, more than 50% of small business...
IRS Offers Penalty Reduction For Late Retirement Plan Returns
Many small business owners may not be aware that they are required to file a return with the IRS for their retirement plan. If you miss filing a Form 5500-EZ and you have a small business retirement plan, you may face stiff penalties of up...
How To Settle Up With The IRS When You Owe More Taxes Than You Can Pay
Back in earlier times, if you didn't pay your taxes you'd be sent to debtor's prison until you or a kindhearted family member came forward to pay what you owed. Thankfully, those days are long gone. But people still face the problem of owing...
Aggregated Companies And The Affordable Care Act
Under the Affordable Care Act, companies who employ 50 or more full-time employees (or their equivalents) are subject to the employer shared responsibilities provision in the law. A recent addition of the IRS's Tax Tips discussed the...
Tax Scammers Don’t Take Vacations
It may be the tail end of the summer season, but that doesn't mean tax scammers are taking a vacation. Even though the traditional tax season is still several months away, tax fraud schemes are in full swing. In one of their most recent Tax Tips,...