Category: Tax Tips

Tax Tips for August 2021

Tax Tips for August 2021

by | Aug 31, 2021 |

Click on the links below to jump to each section in this article: Start Planning Now for Next Year's Tax Return A Tax Checklist for Newly Married Couples Choosing a Payroll Services Provider Repaying Deferred Social Security Tax Keeping Good Tax Records Is Essential Start Planning Now for Next Year's Tax Return This year's tax deadline may have come and gone, but it's never too early to start planning for next year. With that in mind, here are five things you can do now to make next April 15...

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Tax Tips for August 2021

Tax Tips for July 2021

by | Jul 28, 2021 |

Click on the links below to jump to each section in this article: 10 Tips to Help You Start Saving for Retirement What to Know About Backup Withholding Six Steps to Protect Against Taxpayer ID Theft Tips for Taxpayers With Hobby Income It's Hurricane Season: Safeguarding Tax Records 10 Tips to Help You Start Saving for Retirement It's never too late to start, but the sooner you begin saving, the more time your money has to grow. Gains each year build on the prior year's gains - that's the...

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Tax Tips for August 2021

Tax Tips for June 2021

by | Jun 29, 2021 | ,

Click on the links below to jump to each section in this article: How to Check the Status of Your Tax Refund Payment for Refundable Child Tax Credit Starts July 15 HSA Limits Increase for 2022 What is an Economic Impact Notice? Tips for Students with a Summer Job   How to Check the Status of Your Tax Refund   Taxpayers can start checking their tax refund status within 24 hours after receiving an e-filed return. The easiest and most convenient way to do this is by using the Where's My...

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Tax Tips for May 2021

Tax Tips for May 2021

by | May 25, 2021 | ,

Click on the links below to jump to each section in this article: File on Time - Even if You Can't Pay Common Errors To Avoid When Filing a Tax Return Refunds for Nontaxable Unemployment Compensation Recovery Rebate Credit May Be Different Than Expected Deductions for Food or Beverages From Restaurants   File on Time - Even if You Can't Pay Generally, taxpayers should file their tax returns by the deadline even if they cannot pay the full amount due, but if you can't, there are several...

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Tax Tips for May 2021

Tax Tips for February 2021

by | Feb 26, 2021 | ,

Click on the links below to jump to each section in this article: Do You Need To File a 2020 Tax Return? Relief for Taxpayers Struggling With Tax Debts Five Tax Tips for Older Americans New Year, New Withholding? Who Qualifies for the Earned Income Credit   Do You Need To File a 2020 Tax Return? Most people file a tax return because they have to, but even if you don't, there are times when you should - because you might be eligible for a tax refund and not know it. The tax tips below...

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Tax Tips for May 2021

Tax Tips for January 2021

by | Jan 28, 2021 | ,

Click on the links below to jump to each section in this article: Standard Mileage Rates for 2021 Understanding the Excise Tax Protecting Business Taxpayers From Identity Theft Employee Business Expense Deductions: Who Qualifies?   Standard Mileage Rates for 2021 Starting January 1, 2021, the standard mileage rates for the use of a car, van, pickup, or panel truck are as follows: 56 cents per mile driven for business use, down 1.5 cents from the rate for 2020 16 cents per mile driven for...

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Tax Tips for May 2021

Tax Tips for December 2020

by | Dec 21, 2020 | ,

Click on the links below to jump to each section in this article: Retirement Contributions Limits Announced for 2021 Solar Technology Tax Credits Still Available for 2020 Relief for Drought-Stricken Farmers and Ranchers Beware of Gift Card Tax Scams Charitable Donation Deduction Could Lower Your Tax Bill   Retirement Contributions Limits Announced for 2021 Cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for 2021 are as follows:...

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Tax Tips for May 2021

Tax Tips for November 2020

by | Nov 23, 2020 | ,

Click on the links below to jump to each section in this article: Seasonal Workers and the Healthcare Law Tips for Taxpayers: Backup Withholding Tax-Related Items To Keep in Mind When Disaster Strikes Individual Retirement Arrangements: Terms To Know   Seasonal Workers and the Healthcare Law Businesses often need to hire workers on a seasonal or part-time basis. For example, some businesses may need seasonal help for holidays, harvest seasons, commercial fishing, or sporting events....

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Tax Tips for October 2020

Tax Tips for October 2020

by | Oct 6, 2020 |

Under the Affordable Care Act, certain employers – known as applicable large employers – are subject to the employer shared responsibility provisions. You might be thinking about these topics as you make plans about 2021 health coverage for your employees.

If you are an employer that is subject to the employer shared responsibility provisions, you may choose either to offer affordable minimum essential coverage that provides minimum value to your full-time employees and their dependents or to potentially owe an employer shared responsibility payment to the IRS.

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