Small Business and Obamacare

 

Small Business and Obamacare

Small Business and Obamacare
Small Business and Obamacare

Whether you’re self-employed or run a small business, here’s a quick look at what you need to know about the Affordable Care Act.

Self-Employed

If you run an income-generating business with no employees, then you’re considered self-employed. You can get coverage through the Healthcare Marketplace and use it to find coverage Continue reading Small Business and Obamacare

Tricks About Net Investment Tax

Tricks About Net Investment Tax

Tricks About Net Investment Tax
Tricks About Net Investment Tax

Certain taxpayers may be subject to the Net Investment Income Tax, which went into effect last year, in 2013. You may owe this tax if you have income from investments and your income for the year is more than certain limits. Here are four things that you should know about this tax:

  1. Net Investment Income Tax. The law requires a tax of 3.8 percent on the lesser of Continue reading Tricks About Net Investment Tax

2014 CFO Year-End Tax Planning for Businesses (HubCFO CFO Services)

Tax-TimeWhile the fate of several business-related tax extenders such as R & D credits, bonus depreciation, and Section 179 expensing that expired at the end of 2013 is uncertain, there are still a number of end of year tax strategies businesses can use to reduce their tax burden for 2014.

Purchase New Business Equipment Continue reading 2014 CFO Year-End Tax Planning for Businesses (HubCFO CFO Services)

Year-End Tax Planning for Individuals

Taxes-Once again, tax planning for the year ahead presents more challenges than usual, this time due to the numerous tax extenders that expired at the end of 2013.

These tax extenders, which include nonbusiness energy credits and the sales tax deduction that allows taxpayers to deduct state and local general sales taxes instead of state and local income taxes, may or may not be reauthorized by Congress and made retroactive to the beginning of the year. Continue reading Year-End Tax Planning for Individuals

Maximize Miscellaneous Deductions

Maximize Miscellaneous Deductions

Maximize Miscellaneous Deductions
Maximize Miscellaneous Deductions

If you itemize deductions on your tax return, you may be able to deduct certain miscellaneous expenses, which might reduce your federal income tax.

Examples include employee expenses and fees you pay for tax advice. If you itemize, these deductions could lower your tax bill. With that in mind, let’s take a closer look at miscellaneous deductions that might benefit you.

Deductions Subject to the Two Percent Limit. You can deduct most miscellaneous expenses only if they exceed two percent of your adjusted gross income. These include expenses such as: Continue reading Maximize Miscellaneous Deductions

Which Moving Expenses are Deductible?

original_moving_croppedIf you moved due to a change in your job or business location or because you started a new job or business, you may be able to deduct your reasonable moving expenses.

Additionally, if you meet the requirements of the tax law for the deduction of moving expenses, you can deduct allowable expenses for a move to the area of a new main job location within the United States or its possessions. Your move may be from one United States location to another or from a foreign country to the United States. Continue reading Which Moving Expenses are Deductible?