Mitigating the Effects of Employee Burnout: What You Need to Know

Mitigating the Effects of Employee Burnout: What You Need to Know

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Make absolutely no mistake about it: Not only is employee burnout very real, it’s probably costing your business a lot more money than you realize. It’s also not a problem that you’re necessarily going to be able to buy your way out of,…
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Expecting Your Taxable Income to Be Low This Year? You Can Take Advantage of It

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If your taxable income is exceptionally low this year, or even if you expect not to be required to file a tax return this year, a number of tax opportunities may be available to you. But time is running short, since these opportunities will…
Thinking of Tapping Your Retirement Funds Early What You Need to Know

Thinking of Tapping Your Retirement Funds Early? What You Need to Know

If you are suddenly in need of a substantial amount of cash, probably the last thing you should do is tap your retirement funds. They are the key to a financially comfortable retirement. The younger you are, the less likely you are to think…
IRS Clergy Tax Changes

Don’t Overlook Tax Credits

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Don’t Overlook Tax Credits Tax credits are a tax benefit that offsets your actual tax liability, as opposed to a tax deduction, which reduces your income. Congress provides tax credits to individual taxpayers for a number of reasons, including…

Legitimate Tax-Deductible Charity or Scam?

With the holiday season approaching, and with the great need for aid in the wake of the recent hurricanes and wildfires, you no doubt are being solicited for donations. However, do not be fooled by the scammers who come out from hiding whenever…
Medical Insurance and Taxes

Medical Insurance and Taxes

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The Affordable Care Act (ACA) imposed significant penalties on taxpayers and their families who do not have ACA-compliant health insurance. Even though the tax reform removed these penalties after 2018, they still apply for this year and can…
November Tax Due Dates

November Tax Due Dates

November 2018 Individual Due Dates November 13 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during October, you are required to report them to your employer on IRS Form 4070 no…
Most Common Types of IRS Tax Problems

Most Common Types of IRS Tax Problems

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Receiving notification from the Internal Revenue Service that there’s some kind of problem is one of the most bone-chilling situations an American taxpayer can experience. Just receiving an envelope with a return address from the IRS can strike…
Big Changes to College Savings Plans

Big Changes to College Savings Plans

Tax reform added some new taxpayer-advantageous changes to college savings plans. These plans are also known as qualified tuition programs (QTPs) or Sec. 529 plans, named after the part of the Internal Revenue Code that established them. Background:…
Three Common Family Tax Mistakes

Three Common Family Tax Mistakes

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When it comes to transactions between family members, the tax laws are frequently overlooked, if not outright trampled upon. The following are three commonly encountered situations and the tax ramifications associated with each. Renting…