Stores about Tax Issues of General Interest
The safe harbor threshold for small businesses deducting certain capital items has increased from $500 to $2,500. This needs to be understood and incorporated into any strategy used for structuring how to deduct tangible property Continue reading How to Deduct Tangible Property
Eligible employees should begin planning now to take full advantage of their employer’s health flexible spending accounts (FSA) during 2016.
Flexible Spending Accounts provide Continue reading Health Flexible Spending Accounts in 2016
If you hire someone for a long-term, full-time project or a series of projects that are likely to last for an extended period, you must pay special attention to the difference between an Continue reading Employee or Independent Contractor?
From tax credits and educational expenses to the AMT, many of the tax changes affecting individuals for 2015 were related to the signing of the American Taxpayer Relief Act (ATRA) in 2012–tax provisions that were modified, made Continue reading 2015 Tax Review for Individuals
The Affordable Care Act includes the Obamacare Individual Responsibility provision that requires you, your spouse, and your dependents to have Continue reading Obamacare Individual Responsibility
Year-end Tax planning for individuals presents similar challenges to last year due to the unknown fate of the numerous tax extenders that expired at the end of Continue reading Year-End Tax Planning for Individuals
While the fate of several business-related tax extenders such as Research & Development tax credits, bonus depreciation, and Section 179 expensing that expired at the end of Continue reading Year-End Tax Planning for Business
Generally, debt that is forgiven or canceled by a lender is considered taxable income by the IRS and must be included as income on your tax return. Examples include a debt for which you are Continue reading Is Canceled Debt Taxable?
When you start a business, a key to your success is to know your tax obligations. You may not only need to know about income tax rules but also about payroll tax rules. Here are 5 tax Continue reading 5 Tax Tips for Starting a Business
You should always keep copies of your tax return for your records. You may need to keep copies of your tax return filed for many reasons. For example, they can help you prepare Continue reading Keep Copies of Your Tax Return
