Archive

30Jul2015

Receiving Tips Can Be Taxing

Article Highlights: Tips are taxable and must be included on your tax return Tip splitting and cover charges Tip reporting to employer Employer tip allocation Daily log for tip record keeping   If you work in an occupation where tips are part of your total compensation, you need to be aware of several facts relating
  • 30 Jul, 2015
  • Jacqueline Cran
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27Jul2015

Don’t Panic if You Receive an IRS Notice

    Article Highlights: Letter May Be In Error Let Your Tax Professional Respond Procrastination Leads to Bigger      Problems Change of Address Complications If it is not your refund check in the mailbox, that letter from the IRS will probably increase your heart rate a little. Don’t panic; many of these letters can be
  • 27 Jul, 2015
  • Jacqueline Cran
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20Jul2015

5 Things You Should Know in 2015 About the ACA

  It has been five years since the Patient Protection and Affordable Care Act (the ACA) was signed into law. Healthcare reform has certainly been controversial, but this controversy does not absolve some businesses of certain responsibilities when it comes to offering minimum essential healthcare coverage to their employees. In recognition of the five-year anniversary
  • 20 Jul, 2015
  • Jacqueline Cran
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17Jul2015

Mid-Year Tax Planning Checklist

    Article Highlights: Fall tax planning Changes that can impact your tax liability   All too often, taxpayers wait until after the close of the tax year to worry about their taxes, missing opportunities that could reduce their tax liability or help them financially. Fall is the perfect time for tax planning. The following
  • 17 Jul, 2015
  • Jacqueline Cran
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13Jul2015

Forgot Something on Your Tax Return? It’s Not Too Late to Amend the Return

  Article Highlights: Frequently Overlooked Income and Deductions Three-Year Refund Statute of Limitations State returns Interest & Penalties Filing Instructions and Suggestions If you discover that you forgot something on your tax return, you can amend that return after it has been filed. The need to amend can be because of: Receiving an unexpected or
  • 13 Jul, 2015
  • Jacqueline Cran
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10Jul2015

Tax Tips for Students with a Summer Job

Article Highlights: W-4 Tips Working For Cash Self-employment Tax Working in a Family Business ROTC Members Newspaper Carriers Many students hold a summer job during their time off from school. Here are some tax issues that should be considered when working a summer job. 1.  Completing Form W-4 When Starting a New Job – This
  • 10 Jul, 2015
  • Jacqueline Cran
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06Jul2015

Tax Tips for Recently Married Tax Payers

   Article Summary: Social Security Administration Internal Revenue Service U.S. Postal Service Withholding & Estimated Tax Payments Health Insurance Marketplace This is the time of year for many couples to tie the knot.  If you marry during 2015, here are some post-marriage tips to help you avoid stress at tax time. Notify the Social Security
  • 6 Jul, 2015
  • Jacqueline Cran
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01Jul2015

July 2015 Tax Due Dates

July 2015 Individual Due Dates July 1 – Time for a Mid-Year Tax Check Up  Time to review your 2015 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties. July 10 – Report Tips to Employer If you are an employee who works for tips and received
  • 1 Jul, 2015
  • Jacqueline Cran
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