Blog
Do's and don'ts of amending your tax return
What happens when you discover you made a mistake on your 2016 return that you just filed? Before you decide if you should file an amended tax return, there are a few do's and don'ts you should know. First, don't panic, and second, don't ignore
March 2017 Market Insight
It was an interesting month in financial markets as U.S. stocks and bonds were largely flat, while international stocks (MSCI EAFE) surged 2.75%. This surge of international stocks has been very short-lived so far, but the surge is worth noting
Health Savings Accounts: Now or Later
Health Savings Accounts (HSAs) are a great savings tool for those with High-Deductible Health Insurance Plans (HDHP)*. HSAs allow people to build up tax-free savings for most out-of-pocket medical expenses, whether those expenses happen now or later.
Social Security News
The Social Security Administration announced earlier this year that they will be mailing out fewer Social Security Statements. Only people age 60 and over will receive annual statements in the mail.
Rising Rates: What You Need to Know and Why
On March 15, 2017, the Federal Reserve Bank made the decision to increase the target range for the Federal Funds Interest Rate to between 0.75%-1.00%. To start, what is the Federal Funds Interest Rate?
Meet Beau Carpenter, CPA
We'd like to introduce you to Beau Carpenter, CPA.
Investment Update
The year is off to a great start for stock investors, as the S&P 500 Index (U.S. large companies) is up 6.07% through the end of March. U.S. stocks have been strong over the course of the last several years, as we've seen only minor decline
Apply for an extension if you can’t file by April 18
Tax time can be stressful, but don’t panic if you can’t file your tax return on time. There's still time to get an automatic six-month deadline extension.
What’s due on April 18?
Tuesday, April 18, is a major tax deadline. Here are some of the tax filing and related deadlines:
April IRA deadlines fast approaching
As tax day approaches, there are two other April deadlines that may apply to you. If you have an IRA, take note of these dates:
Tax time is scam time - IRS announces the Dirty Dozen
Each year the IRS produces its "Dirty Dozen" list of tax scams. As criminals become savvier at stealing personal information and scamming people out of their money, taxpayers must be more vigilant than ever. Here are some of the more common scams...
February 2017 Market Insight
What happened in February and Looking ahead...
More credits require questions
Common errors have helped to make the Earned Income Tax Credit (EIC) a major source of what the IRS calls "improper payments". The agency estimates that of the $66 billion in EIC funds paid in 2015, nearly a quarter were collected by filers who didn't qualify to receive them.
2016 proof of health insurance: the Form 1095 wrinkle
Under the current Affordable Care Act (ACA), all Americans must have health insurance. If you receive your health insurance through the ACA marketplace or from your employer, you will receive a Form 1095.
Current tax law requires health insurance
During his first week in office, President Trump signed an executive order asking federal agencies to reduce the economic burden the Patient Protection and Affordable Care Act (ACA) puts on American citizens.
What records you need for tax preparation
If you're not a naturally organized person, keeping your tax records in one place might not be easy. But gathering the appropriate records ahead of time will make it easier on yourself and help ensure the accuracy of your tax return.
When filing your taxes, why early may make sense
Even though the IRS has started accepting tax returns, most of us aren't yet ready to file. There are, however, reasons to consider filing your return early. Here are some of the most common:
January 2017 Market Insight
Flipping through The Wall Street Journal for the past month, one might see front page headlines such as
Time to plan for inflation-adjusted 2017 tax numbers
Each year, certain tax figures are adjusted for inflation. While most figures are unchanged versus 2016, there is more than a 7% increase to the maximum earnings subject to social security tax.
Making the most of your tax refund
If you are expecting a tax refund, you might consider investing your refund or using it to increase your financial security. While everyone's needs are different, here are some optional uses of your refund that may work for you.
Standard mileage rates drop for 2017
Whether you drive your vehicle in your own business or reimburse your employees for business mileage, you'll need to revise the rate you use in 2017.
New law offers new HRAs in 2017
A health reimbursement arrangement, or HRA, is a benefit plan you can offer to your employees to reimburse them for medical expenses that are not covered by an insurance plan. HRAs offer tax benefits, including the deductibility of contributions you make to your employees' accounts.
Taxes under President Trump
By the time you read this article we will be less than two weeks away from Donald Trump's inauguration.
December 2016 Market Insight
With winter now here and the holidays in the rear-view mirror, the markets also shared in the holiday cheer with a positive (but uneventful) December.
2017 financial shape up: Small steps toward big goals
Shaping up your finances in 2017 may seem like a big goal, perhaps even too daunting. But if you take one small step at a time, these small steps will add up. Here are suggestions.
Standard mileage rates go down for 2017
Have you noticed the price of gas? So has the IRS – and the reimbursement rate for business mileage has gone down as a result. The new rate for 2017 is 53.5¢ per mile, down from the 2016 rate of 54¢ per mile.
Note the new due dates for Forms W-2 and 1099
As you begin your January payroll preparation, take into account earlier due dates for two common information reporting forms.
IRS extended the due date for Forms 1095
When you're an applicable large employer (generally, when you employ 50 or more full-time workers and equivalents), you're required to provide information about health coverage to the IRS and to your employees.
2021 Archive
2020 Archive
