Accurately Completing Form W-4 Could Still Result in an Underpayment
You may be under-withholding because your filing status and exemptions on W-4 do not account for other income sources. We explain in today’s Marietta Daily Journal.
Did You Collect the Needed W-9s?
It is good practice to have independent contractors sign IRS Form W-9 the first time you use them. Read more in this Business Tip.
Home Mortgage Interest and Unmarried Couples
Can you deduct mortgage interest if your name isn’t on the mortgage but you are an equitable owner of the home? Find out in this Tax Tip.
Are You Withholding Enough?
Accurate completion of Form W-4 worksheets may not guarantee that you will have the correct amount of tax withheld.
Compensating Yourself as a Business Owner
If you are your own boss, know that the IRS watches what you pay yourself as a business owner. We explain more in this week’s Marietta Daily Journal Article.
Underpayment Penalties Going to Get You?
To avoid underpayment penalties, you generally must prepay more than 90% of your current year tax liability or 100% of your prior year tax liability.
2013 Year-End Tax Planning Considerations
As the end of the 2013 tax year approaches, we’ve listed some things to keep in mind as you consider potential year-end tax moves. Read on in this Tax Tip.
Take Advantage of the IRA-to-Charity Transfer
For 2013, if you are age 70½ and older, you are allowed to make direct distributions (up to $100,000) from your Traditional or Roth IRA account to a charity. Read more in this Tax Strategist.
Your 2013 Tax Bill May Give You a Shocker
Many higher-income taxpayers are in for a shock when their 2013 income tax returns are prepared. In 2013, a significant number of tax increases, and new limitations on deductions, will impact higher income taxpayers. Read more in this Tax Strategist.
Planning Pension Distributions
If you are able to plan your pension withdrawals, you can save considerable tax dollars. Read all about it in this Tax Tip.