This past month at least 55 companies reported they had fallen victim to a new type of small business scam. The specialized phishing scheme involves a criminal masquerading as a real employee, often a key executive, and then duping unwitting employees to provide payment or secure files. The scam takes many forms. Here are a [...]
You've spent years saving for retirement, but now it's time to plan the best way to manage your retirement savings withdrawals. Here is a potential method to help maximize your funds using a tax-advantaged strategy. First, look at Social Security and pensions. You can use these funds for daily living much the same as you [...]
A couple of years ago, the U.S. Treasury released a report highlighting a disturbing level of non-compliance in alimony reporting on tax returns. Since the report was released, the IRS has increased the scrutiny they place on tax returns with these claims. If you file a tax return involving alimony, make sure you know the facts [...]
One of the biggest delays in filing your tax return is missing information. Make sure you don't miss some of these commonly overlooked items. Missing your e-file approval. Without your signature, your tax return cannot be filed. Proof of health insurance. You must provide a Form 1095 or other proof that you and your dependents [...]
You may already have big plans for spending your tax refund. Many think of this extra money in black and white terms — you either do something responsible with it or you frivolously spend every last cent of it. Here are a few suggestions for making the most of your tax refund while still having [...]
With the new administration in Washington D.C., tax changes are likely in our future, but the details of those changes are unknown. What we do know about 2017 core tax rates and inflation-adjusted figures will come in handy when you file your 2017 tax return in early 2018. Standard deduction increases. The 2017 standard deduction [...]
Sometimes the tax deadline arrives and you are simply not ready to file. But, if you choose to file for an extension, don't make the mistake of not paying. Filing for an extension gives you more time to file, not more time to pay. If you owe taxes, they are due on the regular filing [...]
Donating a car to charity can be a big deduction on your tax return, but the value of your deduction can depend on the organization you donate your car to and how they use the vehicle. Fair market value or not quite When you donate a vehicle, the value of your donation is either the [...]
There are many things that come in pairs because they make sense – peanut butter and jelly, salt and pepper, shoes – the list goes on and on. Travel insurance for business travel is no different. There are inevitable changes to business travel or circumstances that arise while away from home. One way to protect [...]
A simple way to think about your 1040 tax return is focusing on a single line, your Adjusted Gross Income (AGI). Anything "above the line" creates an AGI that can yield tax opportunities or tax consequences for anything "below the line." Being aware of "the line" and the impact it has on your tax return [...]
