Estimated Tax Payments: Who Owes Them & When Is The Next One Due?
If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments. This is the case if you receive interest,
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Category: Tax
Is Your Business Required To Report Employee Health Coverage?
As you’re aware, certain employers are required to report information related to their employees’ health coverage. Does your business have to comply, and if so, what must be done? Basic
Is Your Withholding Adequate? Here’s How To Check.
When you filed your federal tax return this year, were you surprised to find you owed money? You might want to change your withholding so this doesn’t happen again next
How To Treat Business Website Costs For Tax Purposes
These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on when website costs can be deducted. Fortunately, established rules that generally apply to the deductibility
How To Avoid The Early Withdrawal Tax Penalty On IRA Distributions
When you take withdrawals from your traditional individual retirement account (IRA), you probably know they’re taxable. But there may be a penalty tax on early withdrawals depending on how old
Three Tax Breaks For Small Businesses
Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples. 1. Qualified Business Income
SALT Parity Act: What You Need to Know
Missouri recently enacted House Bill No. (HB) 2400, which includes a section called the “SALT Parity Act.” This Act allows pass-through entities (s-corporations and partnerships) to make an election to
The Kiddie Tax: Does It Affect Your Family?
Many people wonder how they can save taxes by transferring assets into their children’s names. This tax strategy is called income shifting. It seeks to take income out of your
Important Considerations When Engaging In A Like-Kind Exchange
A business or individual might be able to dispose of appreciated real property without being taxed on the gain by exchanging it rather than selling it. You can defer tax
Interested In An Electric Vehicle? How To Qualify For A Powerful Tax Credit.
Sales and registrations of electric vehicles (EVs) have increased dramatically in the U.S. in 2022, according to several sources. However, while they’re still a small percentage of the cars on