Tax Due Dates for June 2015
June 10 Tax Due Dates
Employees who work for tips – If you received $20 or more in tips during February, report them to your employer. You can use Form 4070.
Tax Due Dates for June 2015
Seven Tips Determining a Taxable Gift
Is Your Gift Taxable? Seven Tips Determining a Taxable Gift
If you gave money or property to someone as a gift, you may wonder about the federal gift tax. Many gifts are not subject to the gift tax. Here are seven tax tips about gifts and determining a taxable gift.
- Nontaxable Gifts. Continue reading Seven Tips Determining a Taxable Gift
Tax Suggestions if Retiring Overseas
Tax Suggestions if Retiring Overseas
Are you approaching retirement age and wondering where you can retire to make your retirement nest egg last longer? Retiring abroad may be the answer. But first, it’s important to look at the tax suggestions if retiring overseas because not all Continue reading Tax Suggestions if Retiring Overseas
Resolving a Notice from the IRS
Resolving a Notice from the IRS; Eight Facts to Know
The IRS sends millions of letters and notices to taxpayers for a variety of reasons. Many of these letters and notices can be easily dealt with without having to call or visit an IRS office. Here are eight things you should know about if you receive a notice or Continue reading Resolving a Notice from the IRS
Avoid Taxes on Household Employees
Avoid Taxes on Household Employees
A friend criticized my selection of this “Nanny Tax” article for my Blog. I vehemently disagree! Understanding the morass of laws surrounding home-based helpers and Employees and how to legally avoid Taxes on household Employees is crucial! If you doubt me just look-up the history of one of the most accomplished and thoughtful people of my generation: Zoe Baird. If not for some bad advice given to her husband, the Clinton Administration could have avoided the carnage at Waco.
If you employ someone to work for you around your house, it is important to consider the tax implications of this arrangement. Determining whether you can avoid taxes on household Continue reading Avoid Taxes on Household Employees
May 2015 Tax Calendar
May 2015 Tax Calendar
May 11
Employees who work for tips – If you received $20 or more in tips during February, report them to your Continue reading May 2015 Tax Calendar
Facts about Adoption Tax Benefits
Facts about Adoption Tax Benefits
If you adopted or tried to adopt a child in 2014, you may qualify for a tax credit. If your employer helped pay for the costs of an adoption, you may be able to exclude some of your income from tax. Here are ten things you should know about adoption tax benefits. Continue reading Facts about Adoption Tax Benefits
Simplified Home Office Deduction
Simplified Home Office Deduction
If you’re one of the more than 3.4 million taxpayers claimed deductions for business use of a home (commonly referred to as the home office deduction), don’t forget about the simplified home Continue reading Simplified Home Office Deduction
Records for Claiming Charity Gifts
Records for Claiming Charity Gifts
Keeping good records is key to qualifying for the full charitable contribution deduction allowed by law. In particular, this includes ensuring that they have received required statements for two contribution Continue reading Records for Claiming Charity Gifts
What Income is Taxable?
What Income is Taxable?
Are you wondering if there’s a hard and fast rule about what income is taxable and what income is not taxable? The quick answer is that all income is taxable unless the law specifically excludes it. But as you might have guessed, there’s more to it than that.
Taxable income includes any money you receive, such as Continue reading What Income is Taxable?