Three Common Types of IRS Tax Penalties
Fri, 01 Jun 2018 15:48:11 +0000
Around this time of year, many people have filed and forgotten about their 2017 tax returns. But you could get an abrupt reminder in the form of an IRS penalty. Here are three common types and how you might seek relief.
Deducting Home Equity Interest Under the Tax Cuts and Jobs Act
Fri, 01 Jun 2018 15:36:35 +0000
the IRS recently issued a statement clarifying that the interest on home equity loans, home equity lines of credit and second mortgages will, in many cases, remain deductible.
Foreign Accounts Call for Specific Reporting Requirements
Mon, 14 May 2018 19:43:56 +0000
In an increasingly globalized society, many people choose to open offshore accounts to deposit a portion of their wealth. When doing so, it’s important to follow the IRS’s strict foreign accounts reporting requirements. In a nutshell, if you have a financial interest in or signature authority over any foreign accounts, including bank accounts, brokerage accounts, […]
Get an Early Tax “Refund” by Adjusting Your Withholding
Mon, 14 May 2018 19:35:04 +0000
Each year, millions of taxpayers claim an income tax refund. To be sure, receiving a payment from the IRS for a few thousand dollars can be a pleasant influx of cash. But it means you were essentially giving the government an interest-free loan for close to a year, which isn’t the best use of your […]
Crooks Direct Taxpayers to to “Verify” Calls
Mon, 14 May 2018 19:07:13 +0000
WASHINGTON – The Internal Revenue Service warned of a new twist on an old phone scam as criminals use telephone numbers that mimic IRS Taxpayer Assistance Centers (TACs) to trick taxpayers into paying non-existent tax bills. The IRS and its Security Summit partners – the state tax agencies and the tax industry – urge taxpayers to […]
Equifax Data Breach – 9 Ways to Protect Your Business
Wed, 04 Oct 2017 20:28:19 +0000
Consumers have been the target of most of the fraud prevention measures the Equifax breach highlighted. However, there are many things business owners should also put into place in highlight of this case. Here are nine steps you can take to help protect your business. The first step is to act quickly and review your […]
Equifax Data Breach – 7 Ways to Protect Yourself
Wed, 04 Oct 2017 20:06:42 +0000
There has been quite a bit written about the Equifax data breach – why it happened; how it happened; and what you can do about it.   The most important thing for our clients is the what you can do about it. We’ve listed several steps you can take to help protect your credit report, […]
Health Reimbursement Arrangement (HRA) Video Playback
Mon, 17 Jul 2017 18:39:35 +0000
We recently hosted a one-hour event sharing insights into how HRA plans could save you money on your taxes. Click here for the playback.
Free HRA Event – June 28th
Thu, 22 Jun 2017 19:36:02 +0000
A Health Reimbursement Arrangement (HRA) commonly referred to as a health reimbursement account, is an IRS-approved, employer-funded, tax-advantaged employer health benefit plan that reimburses employees for out-of-pocket medical expenses and individual health insurance premiums. Group plans don’t always fit small businesses. We have a better solution. Join us, and our partners, TASC, on June 28th […]
Save an average of more than $5,000 a year on your taxes!
Fri, 16 Jun 2017 19:25:20 +0000
The key to these savings is the ability to declare medical expenses as a business expense rather than a personal deduction. These plans enable qualified small business owners to deduct 100 percent of federal, state, and self-employment taxes for family medical expenses. If you are a farmer, realtor, trucker, or other small business owner, these […]