Are Your Social Security Payments Taxable?
They may be. The IRS’s rules for taxing Social Security benefits could require some studying on your part. If you’ve received Social Security benefits for more than a year,...
April 17, 2017, sounds like it’s a long way off. But December 31, 2016, isn’t. If you haven’t given much thought to your 2016 income tax obligation, it’s time....
Tax Planning, 12 Months a Year
We’re halfway through 2016. What do you know about this year’s income tax obligation? Your 2016 income taxes are probably not at the top of your mind in the...
Using a Vehicle for Business: Q&A
IRS rules and exceptions abound, but there are some questions we can answer simply. Next to your home, your car is probably the most expensive investment you make. And...
All About the Earned Income Tax Credit
Individuals who are working and who have low-to-moderate taxable income may qualify for this income tax credit. When you think about ways to offset your income as you’re preparing...
You may have done nothing wrong. But the prospect of an IRS audit makes everyone sweat. Many things probably go through your mind as you’re preparing a tax return...
Retirement Plans for Sole Proprietors
Granted, retirement plans are usually easier if you’re a full-time employee. But if you’re self-employed, you can still contribute to a retirement plan. It’s expensive to be a sole...
Are You Claiming All of Your Tax-Deductible Business Expenses for 2015?
Haven’t completed your 2015 taxes yet? You’re cutting it close. Don’t short-change yourself on business expenses, though. If you’ve been in business for several years, you have a pretty...
All About Past Due Tax Returns
Taxpayers neglect to file returns for countless reasons. If you’re one of them, here’s what you need to know. Believe it or not, there are individuals who don’t file...
Do You Need to File Form 1099s?
There are a number of situations where you’ll have to create and/or file Form 1099s. Are you affected? If you’ve been sending Form 1099s for years, you’re probably already...