Tips from the IRS Hurricane season officially began this week and the IRS released the following best practices for keeping your tax records safe from natural disasters. Create an Electronic Additional Set of Records Taxpayers should keep a duplicate set of records including...
Filing your tax return this year comes with a new twist: confirmation of your health insurance. Under the Affordable Care Act (ACA), taxpayers filing 2014 tax returns must attest that they had health care insurance since January 1, 2014 for themselves and their dependents. You will have to...
Tips from the IRS When you give a gift to charity that helps the lives of others in need. It may also help you at tax time. You may be able to claim the gift as a deduction that may lower your tax. Here are eight tax tips you should know about deducting your gifts to charity: 1. ...
Crowdfunding, the practice of funding a business or project with many small online contributions, has ushered in a new type of business owner and some 21 st century tax problems. Not only is doing taxes for a crowdfunded project complicated, there are some gray areas that even the IRS doesn...
Do you own or run a small business or tax-exempt group with fewer than 25 full-time employees? If you do, you should know that the Small Business Health Care Tax Credit can help you provide insurance to your employees. You may be able to save on your taxes if you paid for at least half of their...
The Child Tax Credit may save you money at tax-time if you have a qualified child. Here are six things you should know about the credit. The Child Tax...
Tips from the IRS Many people who carry on a trade or business are self-employed. Sole proprietors and independent contractors are two examples of self-employment. If this applies to you, there are a few basic things you should know about how your income affects your federal tax...
Fire, flood, tornadoes, or your own unorganized closet: Any number of disasters can mean you can’t find tax documents when it’s time to file. The National Society of Accountants (NSA) offers this list of important documents you should track and what to do if they should ever be destroyed or...
You got married. You got a job, had a baby, lost a job, bought a house or moved. Your life shifted in ways that once you couldn't have imagined. The last thing on your mind is taxes. Most taxpayers look up a professional tax preparer once a year, as deadline day looms. But during a year,...
Fire, flood, tornadoes, or your own unorganized closet: Any number of disasters can mean you can’t find tax documents when it’s time to file. The National Society of Accountants (NSA) offers this list of important documents you should track and what to do if they should ever be destroyed...
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