For the first time, all taxpayers must include information about their health care coverage to the IRS on their 2014 Form 1040. Another year, another tax form or two. 2014 was the first tax year that the Individual Shared Responsibility…
Sometimes they are. Make sure you understand the IRS’s rules. Do you receive social security benefits? Maybe you have retired and receive payments after working hard all your life. Maybe you are disabled and receive payments as a result of…
There are many requirements you must meet in order to qualify, but it may lower your tax bill. Supporting a family can be difficult, not to mention expensive. Working families whose income is fairly low need all the help they…
The Affordable Care Act (ACA) can save your small business money through its tax credits. If your small business has employees, you’ve undoubtedly been paying attention to the news coming out of Washington, D.C., about the Affordable Care Act (ACA)….
You dream of meeting someone special to spend your life with. Then you meet the perfect person. You get married and start planning a life together. Then things go south. Maybe your spouse starts a business and makes some…
Welcome to hurricane season! Hurricanes can cause quite a bit of damage not only to vacation homes, but also to the primary residences of people who live in areas affected by hurricanes. In 2005, Hurricane Katrina caused more than $125…
The IRS takes the distinction very seriously. Many small businesses start out as casual pastimes. You help troubleshoot your friends’ computer problems in your spare time, and they start telling their friends and business contacts about you. Or you use…
The majority of tax laws apply regardless of age, but some are different if you’re 65 or older. By the time you turn 65, you’ve probably already started enjoying some benefits reserved for senior citizens. Restaurants, exclusive living communities, entertainment…
You had good intentions, but you just couldn’t pull it together in time. Here are some suggestions for dealing with delinquent taxes. One of the problems with waiting until the last minute to prepare and file income taxes is that…
Be prepared for a mountain of paperwork, much of it related to income taxes. Adding your first employee to your small business comes with good and bad news. The good, of course, is that you’re succeeding so well that you…