Check Your Withholding Are you having the right amount of tax withheld from your paycheck? The IRS’sTax Withholding Estimatorhelps you calculate federal tax withholding, which affects your take-home pay as well as your tax refund or tax due. To...
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Intro to Business Deductions To be deductible, a business expense must be both ordinary — common and accepted in your industry — and necessary, helpful and appropriate for your trade or business. Generally, you cannot deduct personal, living or...
Worst of the Worst: Top Personal Tax Errors If you make any mistakes on your tax return, you can end up owing even more money. This means you might miss out on the full refund you claimed. From interest...
Worst of the Worst: Top Business Tax Errors When the IRS looks at your tax forms, the tax agency uses a computer to compare what has been reported to it with what you have reported in terms of income....
Exploding Some Estate Tax Myths If you own property and assets or have loved ones who depend on you to provide income or care, you should have an estate plan. However, some people hesitate to create one, fearing that...
Tax Implications of Bonuses If you get pleasure from rewarding your team’s performance with bonuses, you are not alone. But it’s important to consider how those bonuses are given, along with the tax implications for both you and the...
Is Your Side Hustle a Hobby or a Business? With the rise of the gig economy, a lot of people have opted to turn their hobbies into profitable ventures. In turn, the lines are blurring between hobbies and small...
Tax Tips for Parents When starting a family, you might be interested to know that you’re now eligible to claim new credits and deductions, which ultimately lessens the total value of your tax liability. You can start by utilizing...
What Qualifies for a Home Energy Credit and How Can I Receive One? Written by: Anna McDonough Summer is here, and you know what that means, it’s time for home improvement projects! Did you know that certain utility upgrades...
Welcome to the era of streamlined business management. Many businesses today are using “pre-boxed” accounting software, such as QuickBooks, to track and summarize their business activity. These software packages are popular due to their low cost and ease of...