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.
Individual Taxpayer Identification Numbers (ITINs) that have not been used when filing a tax return at least once in the past three years will automatically expire on Dec. 31, 2017. There’s also a rolling expiration date affecting certain ITINs. The key number to look for
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The IRS recently reported an increase in charity scams since the rise in natural disasters over the last few months. Scammers use authentic-looking emails to direct people to fraudulent websites that ask for financial and personal information. The IRS website has a list of exempt
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The Social Security Administration stated there will be a 2 percent cost-of-living adjustment (COLA) to monthly Social Security and Supplemental Security Income benefits for 2018. This is the largest increase since 2012. Up to $128,700 in wages will be subject to Social Security taxes (up
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There is now a ton of media chatter about the recently introduced federal tax reform package being passed around in Washington, D.C. While it’s still early in the process, here are some of the key elements of the current proposal.
