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Save Taxes Using the Kiddie Tax Strategy

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Can I deduct medical expenses on my tax return?

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Improved Child Care Tax Credit Available

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COVID-19: IRS Announces More Relief and Details

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Work Opportunity Tax Credit Extended Through 2020

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September 23, 2019

Key 2019 Q4 Tax Deadlines for Businesses

Here are some of the key tax deadlines for businesses and other…
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business website costsTax
September 23, 2019

Determining Business Website Costs for Tax Purposes is Complex

These days, most businesses need a website to remain competitive. It’s an…
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educator expense deductionTax
September 16, 2019

Teachers: Which Expenses Can You Deduct on Your Tax Return?

Teachers often pay for various expenses for which they don’t receive reimbursement.…
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Estimated tax paymentTax
September 11, 2019

Do You Need to Make an Estimated Tax Payment on September 16?

If you’re self-employed and don’t have withholding from paychecks, you probably have…
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set up sep 2019Tax
September 11, 2019

Carefully Plan for Withdrawals from Your Traditional IRA

If you’re like many people, you’ve worked hard to accumulate a large…
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pros and cons of a C corporationTax
August 28, 2019

Is S Corporation Status Right for Your Business?

Operating a business as an S corporation may provide many advantages, including…
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keep financial recordsUncategorized
August 20, 2019

How Long Should I Keep Financial Records?

You can keep financial records in any manner that works best for…
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kiddie taxTax
August 7, 2019

The “Kiddie Tax” Hurts Families More Than Ever

Years ago, Congress enacted the “kiddie tax” rules to prevent parents and…
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Tax-saving strategiesTax
August 7, 2019

Review Your Investments for Tax-Saving Strategies

You may have heard about a proposal in Washington to cut the…
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tax consequences of M&ATax
July 16, 2019

Tax Implications of Mergers and Acquisitions

If you’re considering buying or selling a business — or you’re in…
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need business equipmentTax
July 16, 2019

Need Business Equipment? Now is a Good Time to Buy.

There’s good news about the Section 179 depreciation deduction for business property.…
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Day camp tax creditTax
July 8, 2019

Is My Child’s Day Camp Eligible for a Tax Credit?

Now that most schools are out for the summer, you might be…
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Tax on My Social Security BenefitsTax
July 8, 2019

Will There Be a Tax on My Social Security Benefits?

During your working days, you pay Social Security tax in the form…
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entity choice for businessTax
June 26, 2019

What is the ideal entity choice for your business?

The Tax Cuts and Jobs Act (TCJA) has changed the landscape for…
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tax deadlines for businessesTax
June 19, 2019

Third Quarter Tax Deadlines for Businesses and Other Employers

Here are some of the key third quarter tax deadlines affecting businesses…
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100% payroll tax penaltyTax
June 19, 2019

Employers: Payroll Tax Penalties Can Be Assessed Personally to You

If federal income tax and employment taxes (including Social Security) are withheld…
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vehicle donations to charityTax
June 17, 2019

The Truth About Vehicle Donations to Charity

You’ve probably seen or heard ads urging vehicle donations to charity. “Make a difference…
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retiring to another stateTax
June 4, 2019

Retiring to Another State? Don’t Forget about Taxes

When you retire, you may consider retiring to another state — say,…
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Adjust WithholdingTax
June 4, 2019

Do You Need to Adjust Your Withholding?

Due to the massive changes in the Tax Cuts and Jobs Act…
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Tax Breaks for Hiring Your ChildrenTax
May 23, 2019

Tax Breaks for Hiring Your Children This Summer

If you’re a business owner you can obtain tax breaks and other…
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business expense deductionsTax
May 14, 2019

Business Expense Deductions Can Be Complicated

If you read the Internal Revenue Code (and you probably don’t want…
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Employee vs. independent contractorTax
May 14, 2019

Employee vs. Independent Contractor: Correct Classification is Critical

Many employers prefer to classify workers as independent contractors to lower costs,…
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Unclaimed Tax Refunds in ConnecticutTax
May 8, 2019

Where is My 2018 Tax Refund?

It’s that time of year when many people who filed their tax…
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Electric vehicle tax creditTax
May 1, 2019

Electric Vehicles May Quality for Tax Credit

While the number of plug-in electric vehicles (EVs) is still small compared…
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Casualty loss deductionsTax
May 1, 2019

Casualty Loss Deductions More Difficult to Take

Unforeseen disasters happen all the time and they may cause damage to…
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tax consequences of M&ATax
April 16, 2019

How M&A Transactions Will be Taxed Under Current Law

Merger and acquisition activity has been brisk in recent years. If your…
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business meal expense deductionsTax
April 16, 2019

Business Meal Expense Deductions Under TCJA

In the course of operating your business, you probably spend time and…
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Medicare premiumsTax
April 10, 2019

Seniors: Medicare Premiums Could Lower Your Tax Bill

Americans who are 65 and older qualify for basic Medicare insurance, and…
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dependent tax creditTax
April 2, 2019

Dependent Tax Credit: Are You Eligible?

If you’re the parent of a child who is age 17 to…
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2022 gift tax returnTax
April 2, 2019

Are You Required to File a 2018 Gift Tax Return?

Did you make large gifts to your children, grandchildren or other heirs…
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tax deadlines for businessesTax
March 27, 2019

2019 Q2 Tax-Related Deadlines for Businesses and Other Employers

Here are some of the key 2019 Q2 tax-related deadlines that apply…
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set up sep 2019Tax
March 19, 2019

Small Business Owners: You Can Still Set Up a SEP for 2018

If you own a business and don’t have a tax-advantaged retirement plan,…
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leasing vs. buyingTax
March 19, 2019

Leasing vs. Buying: Which is More Tax Efficient for Your Business?

Recent changes to federal tax law and accounting rules could affect your…
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Incentive Stock Options Call for Careful Tax PlanningTax
March 14, 2019

Incentive Stock Options Call for Careful Tax Planning

Incentive stock options (ISOs) are a popular form of compensation for executives…
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child tax creditsTax
March 6, 2019

Have Dependents? Here Are Three Big Tax Changes That May Affect You

When you file your 2018 income tax return, you’ll likely find that…
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Tax Breaks for Small BusinessesTax
March 6, 2019

5 Tax Deductions That May Disappear from Your 2018 Return

While the Tax Cuts and Jobs Act (TCJA) reduces most income tax…
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3 Questions After Your Return is FiledTax
March 2, 2019

Self-Employment Tax: Are LLC Members Liable?

Limited liability company (LLC) members commonly claim that their distributive shares of…
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tax breaks on business real estateTax
February 18, 2019

Tax Breaks on Business Real Estate

Commercial buildings and improvements generally are depreciated over 39 years, which essentially…
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C corporation tax issuesTax
February 18, 2019

C Corporation Tax Issues Post TCJA

The flat 21% federal income tax rate for C corporations under the…
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investment interest deductionTax
February 13, 2019

3 Hurdles to Benefiting from the Investment Interest Deduction

As you likely know by now, the Tax Cuts and Jobs Act…
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file your 2018 income tax returnTax
February 5, 2019

Don’t Wait to File Your 2018 Income Tax Return

The IRS opened the 2018 income tax return filing season on January…
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charitable donationsTax
February 5, 2019

Get Proof for 2018 Charitable Donations

If you’re like many Americans, letters from your favorite charities have been…
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Tax-related limits affecting businessesTax
January 29, 2019

Tax-related Limits Affecting Businesses: Many Increase for 2019

A variety of tax-related limits affecting businesses are annually indexed for inflation,…
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Standard Mileage Rate for 2023Uncategorized
January 21, 2019

Standard Mileage Rate for Business Miles Increases to $.58 per Mile

This year, the optional standard mileage rate used to calculate the deductible…
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employee bonus deductionsTaxUncategorized
January 21, 2019

Is It Too Late to Take 2018 Deductions for Bonuses Paid in 2019?

There aren’t too many things businesses can do after a year ends…
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Medical expense deductionUncategorized
January 16, 2019

Medical Expense Deduction Threshold Hard to Meet in 2019

With rising health care costs, claiming whatever tax breaks related to health…
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Tax-saving strategiesUncategorized
January 7, 2019

Opportunities to Increase Your Retirement Savings in 2019

Retirement plan contribution limits are indexed for inflation, and many have gone…
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Adjust WithholdingUncategorized
January 7, 2019

TCJA: Items Impacting Individual Taxpayers

Now that 2019 has begun, there isn’t too much you can do…
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Year-end tax strategies for businessesTax
December 17, 2018

It’s Not Too Late! Year-end Tax Moves for Your Business

Tax planning is a year-round activity, but there are still some year-end…
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tax deadlines for businessesUncategorized
December 17, 2018

Q1 Tax-related Deadlines for Businesses

Here are some of the key tax-related deadlines affecting businesses and other…
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Three Ways to Reduce Your 2021 TaxesUncategorized
December 12, 2018

Action Items for Year-end Tax and Financial Planning

With 2019 approaching fast, here’s a quick list of tax and financial action…
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validate charitable donationsUncategorized
December 12, 2018

Year-end Charitable Gifts: Check Deductibility in Advance

As the holidays approach and the year draws to a close, you…
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