Here are five common retirement planning ideas and what you can do to take advantage of them. The key is retirement planning starts now, not decades from now when you are reaching retirement age. 1. Having a plan Surprisingly, most do not know how much money is...
Less than 1% of more than 145 million individual tax returns filed during 2021 will be selected for audit. The percentage increases for higher income taxpayers, along with tax returns in areas of specific interest to the IRS. Here's what you should remember if you...
Small business owners have a number of options on how to organize their business for tax purposes. And if you sell items on eBay or Esty, drive for Uber, or offer your services as a writer or programmer, you are probably considered a flow-through entity...
Here are some key changes to the tax code for 2022. Use this information to help manage your tax obligation, a practice that can pay rich benefits if reviewed throughout the year. Tax brackets and rates While there is much discussion in Congress and the Executive branch...
Summer brings warm weather, fun outdoor activities, and new opportunities to earn some additional income. However, taxes on seasonal income need to be handled with care, whether they're related to your child's first job or an extra income opportunity for you. Here are some tips...
With tax season in the rear view mirror, now is the time to take a hard look at your federal and/or state withholdings to ensure next year's tax bill does not surprise you. A review is more important than ever There are a number of tax code...
A recent tax law change by this edition of Congress now requires transaction reporting to the IRS for anyone receiving more than $600 in payments through digital payment tools like PayPal, Venmo, and CashApp. It also impacts anyone using transaction platforms to buy or sell tickets...
If you’re getting a refund, here are four useful tips to know. 1. The average refund is more than $3,500. Through February 18, the IRS reports the average refund is $3,536, which is up 22% versus the same time last year. Since a refund is really your...
With the individual tax-filing deadline on Monday, April 18, now is the time to complete all filing arrangements and payments. If you have not already done so, ask yourself these questions before it’s too late to act: Do you need to sign your e-file authorization...
Both your individual tax return AND first quarter estimated tax payment are due by Monday, April 18th. Here is what you need to know. First quarter due date: Monday, April 18, 2022 The estimated tax payment rule You are required to withhold or prepay throughout the 2022 tax...
