When to Claim a Disaster Loss
If you suffered a loss as a result of a casualty, you may be able to recoup a portion of that loss via a tax deduction. We explain in this week’s Insurance Tip.
It’s Time for Year-End Tax Planning
Despite Congress’ lack of action regarding tax laws, there are still plenty of tax breaks on the books for 2015. Read all about it in this week’s Tax Tip.
Business Owners: Action May Be Needed Before Year-End
Businesses should consider adopting an accounting policy for expensing the cost of items with a life of a year or less. We explain in this week’s Tax Tip.
Was Your No-Health-Insurance Penalty A Surprise?
No health insurance? Note: The penalty amounts to the HIGHER of the flat dollar amount or the percentage of income. We explain in this week’s Insurance Tip.
Retirement Plan Distribution Pitfalls
Be aware when your leave employer—a retirement plan distribution before age 59½ comes with a penalty! We explain in this week’s Tax Tip.
Sole Proprietorship—Is The Risk Worth It?
A sole proprietorship comes with few bureaucratic hoops, but you have to contend with 100% personal liability. We explain in this week’s Business Tip.
Increase Your Withholding to Avoid Underpayment Penalties
The IRS can penalize you for underpayment during the year. But you can increase your withholding to avoid it. Learn what to do in this week’s Tax Tip.
Family Courts Don’t Always Pay Attention to Federal Tax Law
Uh-oh! What to do when family court awards physical custody of a child to one parent and the tax exemption to the other. Read all about it in this week’s Tax Tip.
Get Credit for Generating Your Own Home Power
You can get a tax credit on your federal tax return for installing certain power-generating systems on your home. We explain in this week’s Tax Tip.
Independent Contractors and What They Mean for Your Business
Our experts focus on a case study of a small business on the brink of hiring its first employee, rather than continue the current independent contractor relationship.