Take Advantage of College Tax Credits
If you, your spouse, or one of your dependents is heading off to college this fall, you may be able to claim some education expenses… Read More »Take Advantage of College Tax Credits
Taxes
New york state taxes and Federal taxes have different rules. Personal and Business Income Tax Preparation and Planning
Understanding Health savings accounts (HSAs)
The ABCs of HSAs Health savings accounts (HSAs) have been available since 2004, but they’ve become more popular recently. HSAs offer income-tax advantages that can… Read More »Understanding Health savings accounts (HSAs)
Shop Around for Tax Breaks on College Expenses
Until you have a child applying for or attending college, the high costs may not seem real. That changes quickly when paying for college becomes… Read More »Shop Around for Tax Breaks on College Expenses
S Corporation Compensation and the IRS
One reason small business owners like the S corporation tax structure is because profits generally aren’t taxed at the corporate level. They “pass through” and… Read More »S Corporation Compensation and the IRS
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
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