Tax Deduction – Is My Elderly Parent a Dependent?
Are You Missing Out on Tax Deductions? The answer could be yes. For you to take the dependent tax deduction up to $3,900 on your tax return under the adult-dependent exemption,…
DetailsDo an Employee Benefit Plan Audit Before the IRS or DOL
Why would an employer self-impose an employee benefit plan audit? Because it’s a good idea for employers to self-audit their retirement plans by hiring an experienced professional to determine if…
DetailsDeadline Coming Up to Report Foreign Account Holdings
The deadline is approaching for US taxpayers to report accounts they hold in foreign banks and other financial institutions (foreign account holdings). You also may be required to report foreign account…
DetailsBusiness Tax Deductions: Meals and Entertainment
Who’s subject to the 50% limit on tax deductions? In general, when meal and entertainment expenses are incurred in the context of an employer-employee or customer–independent contractor relationship, one party…
DetailsTax Filing Deadlines – Don’t Miss Them
Tax Filing Deadlines Not Just April 15th Do you file a paper tax return? If so, it’s important that you know the IRS’s “timely mailed = timely filed” rule: Your…
DetailsGiving Your Real Estate to Charity – Tax Traps
Three tax traps when donating real estate to charity If you’re considering donating a property to charity, we have three potential tax traps you need to make sure to avoid:…
DetailsMaking Sense of Your Financials
What do those monthly financial statements mean? For non-accountants, financial results can be confusing. Terms like balance sheet, working capital, EBITDA, etc. are tossed around freely like some sort of…
DetailsWatch Out for These Personal Financial Strategies
The Top Three Personal Financial Pitfalls to Avoid There are three financial strategies that seem to make good financial sense at first glance, but have the potential for abuse. Here…
DetailsWorried About Tax Return Fraud? File Early!
Don’t Let Fraudsters Have Your Refund With security breaches happening every day at major retailers, identity theft and fraud is likely on your mind, and stolen credit isn’t your only…
DetailsMore Ways to Cut Your Tax Bill
Tax Break: Summer Day Camp The passing of Memorial Day marks the beginning of summer. Although the kids might still be in school for another week or two, summer day…
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