The Tax Implications of Being a Winner
If you’re fortunate enough to hit a sizable jackpot in the lottery or while gambling, there are tax implications. Here’s a rundown of the basics.
What to do if Your Business Receives a “No-Match” Letter
If the names and Social Security numbers on your employees’ W-2 forms don’t match the government’s records, you may receive a “no-match letter.” Here’s what these letters mean and how to proceed.
The “Kiddie Tax” Hurts Families More Than Ever
If your child or grandchild has unearned income from dividends, interest and capital gains, beware of the “kiddie tax.” Your family may be hit even harder by the tax under current law.
The “Nanny Tax” Must be Paid for More Than Just Nannies
In 2019, if you pay a household worker cash wages of $2,100, you must withhold and pay Social Security and Medicare taxes. Learn about this and other tax obligations for household workers.
It’s a Good Time to Buy Business Equipment and Other Depreciable Property
The Section 179 deduction and bonus depreciation for business assets have been increased and expanded. Learn more about these valuable tax breaks.
Volunteering for Charity: Do You Get a Tax Break?
Do you spend time volunteering for charity? While you can’t deduct the value of your time, you may be able to deduct some of the out-of-pocket costs. Here are the rules.
You May Have to Pay Tax on Social Security Benefits
If you’re getting close to retirement age, you may be wondering if your Social Security benefits are going to be taxed. And if so, how much will you have to pay?
If Your Kids Are Off to Day Camp, You May be Eligible for a Tax Break
If you meet certain requirements, you may be eligible for a tax break on summer day camp expenses you pay for your child. Here is a rundown of the rules.
Key Deadlines for Businesses and Other Employers
Although you might want to enjoy the lazy days of summer, employers and businesses shouldn’t take it so easy that they miss these important Q3 2019 tax deadlines.
Donating Your Vehicle to Charity May Not be a Tax-Wise Decision
A tax deduction isn’t the only reason for donating a vehicle to charity. But if you’re counting on one, make sure you understand the rules. You may wind up with a small deduction or none at all.
Tax Planning Guide for the 2018 Tax Year
This is the right time for protecting what you have! In uncertain times, proactive tax planning can help you preserve your financial well-being.