Making Two IRA Rollovers in One Year Can Be Costly
Article Highlights: One Rollover per Year Rule Exceptions Tax Consequences Disqualified Rollover Early Withdrawal Penalty
Entries by IslerNW
How to Enter Bills in QuickBooks
How to Enter Bills in QuickBooks It’s not as much fun as creating invoices, but the bills must be paid. Here’s how QuickBooks helps. We’re in a bit of a transitional period with business bill-paying. Some paper bills still come via the U.S. Mail, however you may also be getting some through email. Others don’t […]
5 Reasons to Amend a Previously Filed Tax Return
The most recent data from the IRS on individual tax returns indicates that of 131 million returns filed, about 5 million were expected to be amended. This comes to less than 4 percent, but that projection still affects a significant number of taxpayers. Filing an amended tax return can be a hassle that you definitely want […]
The Key Steps to Take BEFORE You Start a New Business
Very few people think that starting a new business is easy. But at the same time, there are few first-time entrepreneurs who realize just how involved things are from the moment you start trying to bring that idea that previously only existed in your head into the real world.
Day Care Providers Enjoy Special Tax Benefits
Article Highlights: Business Use of Home Prorated Use Owned Home Rented Home Exclusive Use Meal Allowance Other Deductions
Hardship Exemption Rules for Not Having Health Insurance Eased
Article Highlights: Shared Responsibility Payment Executive Order Hardship Exemption Exemption Certification Number
Do You Own a Specified Service Trade or Business?
If So, Your 20% Flow-Through Tax Deduction May Be Limited Article Highlights: 20% Flow-Through Deduction Qualified Trade or Business Specified Service Trade or Business Deduction Table Listing of Service Businesses
Are You Prepared for a Disaster?
Article Highlights: Business Owners Family and Home Records Disaster Scams Self-help Publications Government Assistance
Disabled Taxpayer Tax Benefits
Article Highlights: Increased Standard Deduction Tax-Exempt Income Impairment-Related Work Expenses Financially Disabled Earned Income Tax Credit Child or Dependent Care Credit Special Medical Deductions Qualified Medicaid Waiver Payments ABLE Accounts
Reasonable Compensation and S Corporations
Article Highlights: Payroll Taxes Corporate Officers Employees of a Corporation Reasonable Salaries Factors Flow-Through Deductions Wage Limitations