Habits That Threaten Your Identity and Pocketbook We all do things without thinking due to old habits – however, these habits might be creating vulnerable hacks, ID theft, scams and Internet phishing schemes to separate us from our hard-earned money. Take a look at the following:
With 2017 less than a month away, it’s time to focus on getting everything organized in QuickBooks. Hopefully, you’ve been creating new records, entering transactions, paying employees and submitting payroll taxes, recording payments in addition to running the necessary reports.
It’s no surprise that a big tax trap for businesses is the $600 reporting threshold. Let’s say your business uses the services of an independent contractor early in the year at a cost below the $600 threshold, and you don’t bother to obtain the necessary reporting information from the contractor.
Are you a high-income taxpayer who would like to contribute to a Roth IRA but cannot because of income limitations? Well, here is a work-around that will allow you to fund a Roth IRA.
Fake IRS Mail Notices Crooks have tried all sorts of e-mails scams, but almost everyone has figured out that the IRS does not send out notices by e-mail. So crooks have changed their tactics. Now, there are reports of taxpayers receiving by mail (or email) fake notices requiring immediate payment to a P.O. Box. The […]
Time Is Running Out! If you did not file your 2015 return by the normal April due date and requested an extension, be aware that the final due date for your return is October 17, 2016. The date is normally October 15, but that falls on a weekend this year, giving you two extra days to meet […]
Did you know that in addition to winning an Olympic medal, they are also compensated by the U.S. Olympic Committee with prize money: $25,000 for a gold medal, $15,000 for a silver medal and $10,000 for a bronze medal?
Billions of dollars go unclaimed every year from federal and state governments, financial institutions and companies no longer generating activity. Everything from tax refunds, savings or checking accounts, stocks, uncashed dividends or payroll checks, traveler’s checks, trust distributions, unredeemed money orders or gift certificates (in some states), insurance payments or refunds and life insurance […]
Review the Provisions of Obamacare Premium Tax Credit Serving as a subsidy for the cost of health insurance for lower-income individuals and families is one of the key provisions of Obamacare is the premium tax credit (PTC). Although the credit is determined at the end of the year based upon income, taxpayers are allowed to […]
Special Tax Filing Issues With modern transportation the world continues to shrink, and it is increasingly common for a U.S. citizen to marry someone from another country who is not a U.S. citizen. If this describes your marital circumstances, there are some special tax filing issues you will have to deal with. Based on your particular […]