If you have a college-bound child, you may be concerned about funding future tuition and other higher education costs. So you’ll want to take maximum advantage of tax
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2021. Keep in mind that this list isn’t all-inclusive, so
If you’re getting close to retirement, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of four
Expect the IRS to closely review deductions for business meals or auto expenses. In some cases, taxpayers have incomplete documentation or try to create records months (or years)
High-income taxpayers face a 3.8% net investment income tax (NIIT) in addition to regular income tax. Fortunately, there are some steps you may be able to take to
If you’re a business owner and you want to hire your children this summer, you can obtain tax breaks and other nontax benefits. Your kids can gain on-the-job
The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs). Fundamentals of HSAs An HSA is a trust created or organized exclusively for
Even after you have successfully filed your 2020 tax return with the IRS, you may still have some questions about the return. Here are brief answers to three
You’re subject to both income tax and self-employment tax if your business is organized as a sole proprietorship or as a wholly owned limited liability company (LLC). However,
Before the COVID-19 pandemic hit, the number of people engaged in the “gig” or sharing economy was already on the rise. Reductions in working hours during the pandemic
Many businesses use independent contractors to help keep employment costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If
“Tax day” is just around the corner. This year, the deadline for filing your 2020 individual tax returns is Monday, May 17, 2021. The IRS postponed the usual
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