Summer is finally here. While you’re enjoying the warmer weather, it’s still important to remain diligent about business and personal tax planning. Fortunately, many of the following hot summer tax-planning tips enable taxpayers to combine business with pleasure. Summer Tax…
Much like the smartphone changed the way you use your phone and social media changed the way you interact with friends, technology is about to disrupt how you view, manage and understand your financial life. The digital world allows you…
According to a recent press release from Federal Trade Commission (FTC), tax identity theft was more common than any other form of identity theft in the United States for 2014. The commission received 109,063 complaints about tax identity theft, which…
With the benefits of filing as an S corporation (S corp), it would seem likely that most companies would take care to prevent the loss of this status. Yet, many fail to take precautionary steps to avoid the termination of…
As the weather and economy continue to warm up, employers around the country may be looking to hire more workers, including some already employed at high-paying jobs. If you go to work for a new firm — or your current…
It is generally more tax-efficient to be paid a salary than to receive dividends, given that salary expense is deductible and dividends are paid on an after-tax basis. If the IRS thinks some portion of your salary really should be…
Farming businesses encompass a wide range of operations. All individuals, partnerships, or corporations that cultivate, operate, or manage farms for profit, either as owners or tenants, are designated as farmers. The term “farm” includes livestock, dairy, poultry, fruit, and truck…
You might scratch your head and wonder why a law that is intended to improve the quality of health care for U.S. citizens would penalize employers that are trying to do their part. The reason is simple: Since the value…
On December 19, 2014, the President signed into law the Tax Increase Prevention Act of 2014. This legislation included the Achieving a Better Life Experience Act of 2014 (ABLE Act), which provides for a new type of tax-advantaged account for…
It’s not time to put your dollar bills into memory capsules yet, but the use of convertible virtual currencies — including the Bitcoin — appears to be on the upswing. In addition to announcements that Bitcoins will be accepted by…
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