Archive

31May2016

June 2016 Due Dates

    June 2016 Individual Due Dates June 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during May, you are required to report them to your employer on IRS Form 4070 no later than June 10. Your employer is required to
  • 31 May, 2016
  • Jacqueline Cran
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19May2016

Homeowner Energy Tax Credits Get New Life

  Article Highlights: Home Energy-Saving Improvements Solar and Other Types of Energy Generation Systems Things to Consider Before Signing Up Recently passed legislation has given new life to two homeowner energy tax credits that had expired or were about to expire, providing renewed opportunities to homeowners wanting to take advantage of these credits and reduce
  • 19 May, 2016
  • Jacqueline Cran
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16May2016

Deducting More Than $250 for Teacher’s Classroom Supplies

  Article Highlights: Above-the-Line Deduction Qualifications Employee Business Expenses Noncash Charitable Contribution Noncash Charitable Documentation Requirements Many devoted teachers spend a significant amount of their own money on classroom supplies. Recognizing this, several years ago, Congress created a special deduction for teachers that would allow them to annually deduct up to $250 on their tax
  • 16 May, 2016
  • Jacqueline Cran
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12May2016

Minimizing Tax on Social Security Benefits

    Article Highlights: Income as a Factor Filing Status as a Factor 85% Maximum Taxable Base Amounts Deferring Income Maximizing IRA Distributions Whether your Social Security benefits are taxable (and, if so, how much of them are) depends on a number of issues. The following facts will help you understand the taxability of your
  • 12 May, 2016
  • Jacqueline Cran
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11May2016

Join Our Team – Bookkeeper

    WFH currently seeks a bookkeeper with basic accounting and general ledger knowledge. We offer competitive benefits and opportunities for advancement. For more information, click here or visit http://wfhorne-co.com/careers/client-service-representative-bookkeeper/.  
  • 11 May, 2016
  • Jacqueline Cran
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09May2016

Big Business Write-Offs Available

    Article Highlights: PATH Act Section 179 Deductions Leasehold Property Restaurant Property Retail Improvements Bonus Depreciation Auto and Small Truck First-Year Write-Offs With the enactment of the Protecting Americans from Tax Hikes (PATH) Act, Congress made two significant business-friendly changes in the tax law, extending bonus depreciation and making the Section 179 deduction’s higher
  • 9 May, 2016
  • Jacqueline Cran
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05May2016

Can You Deduct Employee Expenses?

  Article Highlights: Condition of Employment Employer Reimbursements Miscellaneous Itemized Deductions Alternative Minimum Tax Home Office Computer Uniforms and Special Work Clothes Education Impairment-Related Work Expenses Job-Search Expenses If you are an employee, you may be curious about which expenses relating to your employment are deductible on your tax return. This is a complicated area
  • 5 May, 2016
  • Jacqueline Cran
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02May2016

Tax Implications of Paying or Receiving Alimony

Article Highlights: Definition of Alimony When Is It Income, and When Is It Deductible? IRA Qualification Effect of Child Support Need for Estimated Payments IRS Matching Program Recently divorced individuals may pay or receive alimony. If this is your situation, here are some tips for how to correctly treat the payments on your tax return.
  • 2 May, 2016
  • Jacqueline Cran
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