If you’re considering using funds from your retirement plan to build a home, understand the tax rules. You may use up to $10,000 of your IRA per person to purchase a first home and avoid paying the 10 percent early withdrawal penalty. If these same
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The new year is right around the corner, but 2018 hasn’t arrived just yet. That means you have time yet to consider a few tax-saving tips for 2017.
Just like people, businesses need yearly checkups. Follow these seven suggestions and take some time this December to look into the health of your business.
It’s time to review your documentation to secure tax deductions, credits or other tax benefits. Examples of tax breaks that require meticulous recordkeeping include charitable donations, travel and entertainment expenses, vehicle mileage and business use of your home. You may also want to retain bank
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Planning on giving this year? Giving annually might trim both your estate and income taxes. Currently, you can give $14,000 to any number of recipients without paying federal gift tax. Learn about your options.
In an ongoing effort to fight identity theft, the IRS announced it will incorporate a new verification code box on all official Forms W-2 in 2018. Taxpayers preparing their own returns and tax professionals will be asked to include a 16-digit code. This extra authentication
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Your kids will learn math in school, but that doesn’t necessarily equate to personal finance. If you want them to become financially responsible adults, you should give them some training yourself. Here’s how.
Taxes can cause serious headaches for business owners. Help yourself keep track of federal, state and local taxes by creating a calendar that includes every tax-related deadline that applies to your specific business. Then write out procedures for submitting reports, calculating taxes and making payments.
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If you plan on donating to a charity, take steps to ensure it’s tax-deductible. First, check to see if the organization you’d like to donate to is qualified and registered with the IRS. You can do this by visiting the IRS website, or calling (877)
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Yearly employee performance reviews are often dreaded by everyone involved. Luckily, they don’t have to be a nuisance. Take a look at a few tips on how to make the process little smoother.
