Home and Education Tax Breaks
Expired Home and Education Tax Breaks Revived Congress passed a federal budget bill in early February that revived dozens of expired home and education tax breaks for the 2017 tax year. They include a deduction for education expenses as well as several tax breaks for...
Taxes and Virtual Currencies
Taxes and Virtual Currencies: What You Need To Know Virtual currencies are all the rage lately. Here are some tax consequences you must know if you decide to dip your toe in that world. The IRS is paying close attention The first thing to know is that the IRS is...
Employee Family Members – Tips for Your Business
Employee Family Members - Tips for Your Business Working with family can be a pleasure. It can also be a pain, especially if you have to terminate a family member's employment. Here are tips to help you ease the strain of mixing your family and employee relationships:...
Your New Life as a Pass-Through Entity Owner
Your New Life as a Pass-Through Entity Owner If you are a small business owner, your planning probably got a lot trickier after the passage of the Tax Cuts and Jobs Act (TCJA). That's because most small businesses have legal structures that are treated as pass-through...
Tough Times at the IRS
Tough Times at the IRS While no one really like dealing directly with the IRS, they are a fact of our economic lives. They need to be efficient and available to answer questions and resolve tax issues and they are the government’s collection agent. This article from...
How to Locate Lost Retirement Benefits
How to Locate Lost Retirement Benefits For one reason or another, you may find yourself in a situation where you've lost track of a retirement account like a 401(k) or pension. There are several ways this can happen: Job change. People change jobs in today's economy...
Does My Business Need Cyber Insurance?
Does My Business Need Cyber Insurance? It's a nightmare scenario few small businesses consider: hackers breach your computer system, steal your customer lists and threaten to exploit sensitive data. Data breaches by malicious individuals don't just pose a financial...
The Best Way to Avoid an Audit: Preparation
The Best Way to Avoid an Audit: Preparation Getting audited by the IRS is no fun. Some taxpayers are selected for random audits every year, but the chances of that happening to you are very small. You are much more likely to fall under the IRS's gaze if you make one...
2018 Tax Reform
2018 Tax Reform Congress has passed tax reform that will take effect in 2018, ushering in some of the most significant tax changes in three decades. Here are some major items in the new 2018 tax reform bill that impact individual taxpayers. Reduces income tax...
How to Handle an IRS Letter or Notice
How to Handle an IRS Letter or Notice The IRS mails millions of letters to taxpayers every year for a variety of reasons. Keep the following suggestions in mind to know how to handle an IRS letter or notice. Do not panic. Simply responding will take care of most IRS...