Seasonal Employees and Your Taxes
With summer fast approaching, some businesses are looking ahead to their busiest time of the year. Below are some reminders for businesses that intend to… Read More »Seasonal Employees and Your Taxes
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What’s the difference between a tax deduction and a tax credit?
A tax deduction reduces the amount of income subject to tax, while a tax credit is a dollar-for-dollar reduction in tax liability. A tax credit… Read More »What’s the difference between a tax deduction and a tax credit?
EMPLOYEE or Independent CONTRACTOR?
Before hiring individuals to work as independent contractors, businesses should make sure they are on solid ground treating the workers as contractors rather than as… Read More »EMPLOYEE or Independent CONTRACTOR?
MINIMIZING THE TAX BITEon Your Investments
When you invest, your main focus should be achieving your financial goals, not avoiding taxes. That said, if an investment decision causes your tax bill… Read More »MINIMIZING THE TAX BITEon Your Investments
Is there a way I can check on the status of my tax return and tax refund?
The IRS has an online tool called “Where’s My Refund?” at www.irs.gov or you can use the IRS2Go mobile app, which is available for free… Read More »Is there a way I can check on the status of my tax return and tax refund?
Taxing Decisions – Car and Home Office Expenses
Do you use your car for business driving or maintain an office in your home? In either situation, you may have a choice of methods… Read More »Taxing Decisions – Car and Home Office Expenses
A Tax Credit for GOING GREEN
Thinking about installing a renewable energy system in your residence? Uncle Sam offers individual taxpayers a federal income-tax credit equal to 30% of the cost… Read More »A Tax Credit for GOING GREEN
THREE STEPS to Lower Taxes for the Self-employed
When you are self-employed, your business profits are taxed to you at federal rates as high as 39.6%. Add self-employment taxes, which in 2015 will… Read More »THREE STEPS to Lower Taxes for the Self-employed
The 2015 Tax Year is Here!
NEW (TAX) YEAR The 2014 tax year is pretty much a wrap. There’s not too much individual taxpayers can do to change the outcome. But… Read More »The 2015 Tax Year is Here!
Hobby or a Small Business?
Do you have a hobby or a business? A recent Tax Court decision reminds us of the importance of keeping good records. The Tax Court… Read More »Hobby or a Small Business?