Take a Penalty-Free IRA Withdrawal For Medical Expenses
Are you considering withdrawing funds from your traditional IRA to pay unexpected medical costs? Read more
Archive for year: 2014
Every Small Business Should Establish Controls
Every week reporters publish stories about companies that have lost thousands, even millions of dollars because of fraud. They recount the dreadful details of business owners who learned – too late – that a lack of basic controls left their companies vulnerable to pilferage, embezzlement, and other types of misappropriation. Read more
Report Name Change before You File Taxes
WASHINGTON – IRS TAX TIP 2014-08 – Did you change your name last year? Did your dependent have a name change? If the answer to either question is yes, be sure to notify the Social Security Administration before you file your tax return with the IRS. Read more
IRS Warns of Tax-time Scams
WASHINGTON – IRS SPECIAL EDITION TAX TIP 2014-02 – It’s true: tax scams proliferate during the income tax filing season. This year’s season opens on Jan. 31. The IRS provides the following scam warnings so you can protect yourself and avoid becoming a victim of these crimes: Read more
How Will Health Care Reform Affect You and Your Taxes?
It’s massive, and it’s complicated. At more than 2,000 pages, the Affordable Care Act (ACA for short) has left businesses and individuals confused about what the law contains and how it affects them. Read more
The AMT: Will This Tax Apply To You?
Though you might prefer to not think about the AMT, certain income and deductions, known as preference items, affect the way the tax will apply to you. Those amounts, along with others called “adjustments,” are added to or subtracted from the income shown on your tax return to arrive at your AMT taxable income. Read more
Parents Can Cut Taxes with Child-Related Credits
Are you a parent? Give yourself some credit – a child-related tax credit, that is. Here are two that can reduce your 2013 federal income tax liability. Read more