Mid-Year Tax Planning Checklist

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Article Highlights: Mid-Year Planning Avoiding Unpleasant Surprises Events That Have Tax Consequences  All too often, taxpayers wait until after the close of the tax year to worry about their taxes and miss opportunities that…

Take Tax Advantage of a Low-Income Year

Article Highlights: Exercise Stock Options Convert a Traditional IRA to a Roth IRA Maximize IRA Distributions Sell Appreciated Stock Delay Business Expenditures Release Dependency Delay Personal Deductible Expenditures People…

June 15 Is an Important Filing Deadline

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Article Highlights: Americans Living and Working Abroad Extension Requests Report of Foreign Bank and Financial Accounts (FBAR) Statement of Foreign Financial Assets Estimated Tax Payments Estimated Safe Harbors June 15…
Charitable Tax Deduction Peculiarities

Charitable Tax Deduction Peculiarities

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Charitable Tax Deduction Peculiarities Charitable contributions are deducted as part of a taxpayer’s itemized deductions on IRS Schedule A, except for the special 2020 and 2021 provisions that allow up to $300 ($600 for married taxpayers…
Hiring An Independent Contractor? How QuickBooks Online Can Help

Hiring An Independent Contractor? How QuickBooks Online Can Help

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  Hiring An Independent Contractor? How QuickBooks Online Can Help  Are you taking on a worker who’s not an employee? QuickBooks Online includes tools for tracking and paying independent contractors.  The COVID-19 pandemic…
Does a Tax Deduction and a Tax Credit Result in the Same Tax Benefit?

Does a Tax Deduction and a Tax Credit Result in the Same Tax Benefit?

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Does a Tax Deduction and a Tax Credit Result in the Same Tax Benefit? Tax lingo, even without getting into the weeds of the Internal Revenue Code, tax regulations, IRS rulings, etc., can be confusing. Two frequently used terms that taxpayers…
March 2022 Tax Due Dates & Reminders

March 2022 Tax Due Dates & Reminders

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March 2022 Individual Due Dates March 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during February, you are required to report them to your employer on IRS Form 4070 no later than…

10 Tax-Saving Strategies to Consider Before Year-End

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Article Highlights:  Taking Stock of Tax Strategies Education Tax Credits Converting a Traditional IRA to a Roth IRA Minimum Required Distributions Charitable Contributions Qualified Charitable Distributions Health Savings…