Keeping Savings on Track with a Spousal IRA Being a stay-at-home mom or dad, or working part-time to help take care of the children, can make a big contribution to the balance and well-being of a family. Unfortunately, time out of the workforce could put the caregiving spouse at a disadvantage when it comes [...]
Four Things to Know about Taxes and Starting a Business New business owners have tax-related things to do before launching their companies. IRS.gov has resources to help. Here are some items to consider before scheduling a ribbon-cutting event. Choose a business structure When starting a business, an owner must decide what type of entity [...]
Is that knock on your door really the IRS? Every Halloween, children knock on doors pretending they are everything from superheroes to movie stars. Scammers, on the other hand, don’t leave their impersonations to one day. They can happen any time of the year. Your encounter with these scammers will most likely be over [...]
Retirement Plan Contribution Limits for 2018 The Internal Revenue Service issued the annual cost of living adjustments Thursday for 401(k) contributions, pension plans and other retirement-related matters. The contribution limit for workers who are enrolled in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan has grown from $18,000 to $18,500. [...]
Should I File a Tax Return? Most people file a tax return because they have to. Even if a taxpayer doesn’t have to file, there are times they should. They may be eligible for a tax refund and not know it. Here are five tips on whether to file a tax return: General Filing [...]
Eight Tips to Prevent Identity Theft Identity theft happens when someone steals personal information for financial gain. Tax-related identity theft happens when someone uses another person’s stolen Social Security number (SSN) or Employer Identification Number (EIN) to file a tax return to obtain a fraudulent refund. Many people first find out they are victims [...]
Debt Cancellation May be Taxable If a lender cancels part or all of a debt, a taxpayer must generally consider this as income. However, the law allows an exclusion that may apply to homeowners who had their mortgage debt canceled in 2016. Here are 10 tips about debt cancellation: Main Home. If the canceled [...]
THE FAIR WAGES AND HEALTHY FAMILIES ACT Earned Paid Sick Time Employers: click here to download a pdf of the AZ Earned Paid Sick Time Poster 2017 EXEMPTIONS: The Fair Wages and Healthy Families Act (the “Act”) does not apply to any person who is employed by a parent or a sibling; any person [...]
Moving Expenses Can Be Deductible Did you move due to a change in your job or business location? If so, you may be able to deduct your moving expenses. Moving expenses can be deductible and taken as a deduction to Adjusted Gross Income. Here are some tax tips for moving expenses. In order to [...]
Late Filing and Late Payment Tips April 18 was this year’s deadline for most people to file their federal tax return and pay any tax they owe. If you are due a refund there is no penalty if you file a late tax return. If you owe tax, and you failed to file and [...]
