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Real-World Tax Advice for Recent College Grads

New college graduates will face some of the harsh realities of adulthood, including paying taxes, filing their own tax returns and possibly coordinating with their parents to achieve the best overall family tax results. Here…
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Dont Let Quarterly Estimated Tax Payment Obligations Catch You Off Guard

If you are self-employed, run your own small business, or have rental or investment income, there’s a good chance you must make quarterly estimated tax payments. These payments include income tax and, if applicable, self-employment…
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Tax Options for Vacation Home Owners Who Want to Sell

In many areas, vacation home prices have skyrocketed, along with property insurance costs. If you own a highly appreciated vacation property, is it time to cash out and simplify your life? You could simply sell…
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Accounting News

Small Business Owners: Beware of Common Payroll Blunders

Managing payroll can be a major challenge for small business owners, especially as state and federal payroll tax regulations continue to evolve. Missteps in this area aren’t just minor hiccups — they can lead to…
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General

The Lowdown on 401(k) Plan Catch-Up Contributions

How big is your retirement nest egg? Too often, people sacrifice retirement savings to afford a bigger home, cover emergency expenses or pay for their children’s education. But time flies, leaving many retirees “financially fragile.”…
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General

Help Wanted: Hiring Family Members for Tax-Saving Results

If you own a small business and have children in high school, technical school or college, you might consider asking them to work for you part-time or full-time over the summer. Or you might want…
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Emerging Articles

How to Trim Your 2024 Taxes by Contributing to a Retirement Plan in 2025

Many types of retirement plans allow contributions to be made after year-end. And last-minute retirement contributions can be a powerful strategy: You can lower your 2024 taxes while simultaneously growing your retirement savings. But what…
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Emerging Articles

Small Businesses: 5 Last-Minute Tax Breaks to Consider for 2024

The deadlines for filing 2024 tax returns (or extensions) are fast approaching. Has your small business taken advantage of all the legitimate ways to lower its federal income tax bill for 2024? Fortunately, it may…
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Some Retirement Plan Benefits Will Increase for 2025

With the 2025 tax year almost here, there’s news from the IRS about retirement savings. According to a recent announcement from the tax agency (Notice 2024-80), there will be increases to some retirement plan contributions…
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Accounting News

How the U.S. Election Changes the Outlook for Taxes

The outcome of the November 5 election is likely to significantly impact taxes. Many provisions in President-elect Donald Trump’s signature tax legislation from his first time in the White House, the Tax Cuts and Jobs Act…
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