If you have student loans to repay, you may be wondering how that debt will affect your tax return. While repayment of the principal portion of your debt is not tax deductible, you can take an above-the-line deduction for up to $2,500 of interest...
As we enter the back-half of the year, fatigue may creep in. It's been a long, hot summer and you may be tired from all of the home improvement projects, the constant shuffling from one activity to the next, or even unforeseen expenses that threw a wrench into your budget.
Where do most people typically invest? Usually, it's in their own back yard.
An important step in estate planning is creating an inventory of your assets.
Did you file all required information returns for 2015 and earlier years? Information returns include Forms 1099, the forms you complete when you pay for certain business expenses such as rent or services performed by an independent contractor.
The art of placing information in a logical order, more prosaically called organization, is key to the efficiency of your business, which can in turn increase productivity. Fortunately, you can master the art of organization by making habits out of simple techniques.
Waiting until tax time to try to lower your taxes is usually not the most effective way to accomplish your objective. Between now and the end of the year, try some of these ideas and you just might save yourself a few (thousand) dollars at tax time.
If your business has a one-participant retirement plan such as a solo 401(k) - for example, if you own the entire business and the plan covers only you, or you and your spouse - you may be unaware that you can have tax filing responsibilities.
Planning for a comfortable retirement involves coordinating many moving parts. But you can begin by setting up a broad outline and filling in the details once you've taken the first steps.
For the calendar year 2016, the S&P 500 Index is up 3.84%. As you can see from the chart below, which shows performance year to date, the index has rebounded from its February lows. The 10% decline that ended in February has been recovered.
Every year, Morningstar, an independent investment research firm, hosts a conference near their headquarters in Chicago. Financial advisors and mutual fund representatives from all over the country come to discuss the current economic environment and...
People usually spend thirty to forty years saving and investing for retirement. Many become very familiar with the tax rules as they grow their accounts and keep taxes as low as possible during their working years. Then retirement comes and...
We'd like to introduce you to Chris Bevington, CPA, who serves as our Tax and Accounting Manager.
According to recent statistics, budget cuts, staff attrition, and a heavy workload for IRS employees mean your chances of undergoing a tax audit are less than 1%.
In May, the Department of Labor updated the rules for paying overtime. Under the new rules, salaried employees who earn less than $913 per week ($47,476 per year) will be eligible for overtime pay. Thatâ€™s double the annual exempt amount of $23,660 from previous rules.
Planning can help you achieve a comfortable retirement. Here are five suggestions to consider.
Basis is an important tax concept. The most recent reminder of the importance of getting basis right is the 2015 law that requires executors of some estates to report basis...
Early retirement, delayed retirement, phased retirement - if you've decided this summer is your time to leave the workforce, you have decisions to make. One of them
Retirement accounts are massively important - once you stop working full time, they become your new source of income. But they are also important during your working years.
June 30, 2016, is the deadline for filing the 2015 Form 114, Report of Foreign Bank and Financial Accounts, known as the FBAR.
The latest credit cards have a new feature: a half-inch square on the card's face that looks like a mini circuit board.
As the weather has warmed and plants have begun to blossom, US markets have also started to show signs of life..
Looking for suggestions to reduce your 2016 business tax liability? Here are three tips to consider as summer gets underway.
The Work Opportunity Tax Credit gives employers a tax credit for hiring veterans and others who are members of â€śtargetâ€ť groups.
If you find yourself on the IRS mailing list, hereâ€™s what to do.
The "Older Americans Reauthorization Act of 2016" was signed into law in April, and May is Older Americans Month, a national celebration of the many contributions of older Americans.
If you haven't revised your business's chart of accounts since you initially set it up, you may be missing out on an easy way to simplify your life at tax time.
Changes to the Fair Labor Standards Act are expected to be released the week of May 9th. These changes will force employers to rethink how they classify their white collar workers...
The trends from the first quarter of the year continued in April, as major index returns remained muted and growth stocks underperformed.