DAY CARE PROVIDERS ENJOY SPECIAL TAX BENEFITS
Article Highlights: Business Use of Home Prorated Use Owned Home Rented Home Exclusive Use Meal Allowance Other Deductions A taxpayer who is in the business of providing family day care…
HARDSHIP EXEMPTION RULES FOR NOT HAVING HEALTH INSURANCE EASED
Article Highlights: Shared Responsibility Payment Executive Order Hardship Exemption Exemption Certification Number The Affordable Care Act (Obamacare) included a “shared responsibility payment,” which in reality is a penalty for not…
MAKING TWO IRA ROLLOVERS IN ONE YEAR CAN BE COSTLY
Article Highlights: One Rollover per Year Rule Exceptions Tax Consequences Disqualified Rollover Early Withdrawal Penalty Tax law permits you to take a distribution from your IRA account, and as long…
HOW TO ENTER BILLS IN QUICKBOOKS
It’s not as much fun as creating invoices, but the bills must be paid. Here’s how QuickBooks helps. We’re in a bit of a transitional period with business bill-paying. Some…
WILL YOU GET A REFUND OR OWE FOR 2018?
Article Highlights: Tax Reform Form W-4 Withholding Refund or Tax Due As a result of tax reform, most taxpayers will be paying less tax for 2018 than they did in…
TAKE TWO. WHEN SHOULD YOU AMEND A PREVIOUSLY FILED TAX RETURN?
Amending your tax return can be a cumbersome process. Contact us to assist you with filing amended returns that can eliminate the headaches that come with the process.
REJOICE – BUSINESS MEALS ARE STILL DEDUCTIBLE
Article Highlights: Ban on Deducting Entertainment Expenses Business Meals Mixed Entertainment and Meals Substantiation Requirements Disallowed Employee Business Expenses If you are a business owner who is accustomed to treating…
OCTOBER 2018 BUSINESS DUE DATES
October 1 – Fiduciaries of Estates and Trusts File a 2017 calendar year return (Form 1041). This due date applies only if you were given an extension of 5 ½…
OCTOBER 2018 INDIVIDUAL DUE DATES
October 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during September, you are required to report…