Tax planning strategies for individuals this year include postponing income and accelerating deductions, as well as careful consideration of timing related investments, charitable gifts, and retirement planning. General tax planning strategies that taxpayers might consider include the following: Sell any investments on which you have a gain or loss this year. For more on this, see Investment Gains and Losses, below. If you anticipate an increase in taxable income in 2016 and are expecting a bonus at year-end, try to … Read More
Choosing the Right Business Entity
When you decide to start a business, one of the most important decisions you’ll need to make is choosing the right business entity. It’s a decision that impacts many things–from the amount of taxes you pay to how much paperwork you have to deal with and what type of personal liability you face. Forms of Business The most common forms of business are Sole Proprietorships, Partnerships, Limited Liability Companies (LLCs), and Corporations (C-Corporations). Federal tax law also recognizes another business … Read More
Tax Brackets, Deductions, and Exemptions for 2016
10 Tax Breaks Reauthorized for Tax Year 2015
Health Flexible Spending Arrangements in 2016
Six Tax Tips for Year-End Charity
Thinking of making a charitable donation during the holiday season this year and want to claim a tax deduction for your gifts?
2015 Tax Provisions for Businesses: A Review
Whether you file as a corporation or sole proprietor here’s what business owners need to know about tax changes for 2015.
2015 Tax Provisions for Individuals: A Review
What individuals and families need to know about tax provisions for 2015.
What is the Individual Shared Responsibility Provision?
The individual shared responsibility provision that requires you, your spouse, and your dependents to have qualifying health insurance for the entire year, report a health coverage exemption, or make a payment when you file.