In our March 2014 newsletter, we provided a discussion entitled “What Are The Chances of Being Audited.” The article focused on the relative possibility of an audit given different levels of income. To more completely address the question of “What Are The Chances of Being Audited,” this article goes beyond income level and addresses the impact of different types of transactions and deductions on the relative chance for a tax audit.
Labor Day signifies the end of summer and comes with a three-day weekend; maybe a trip to the beach, the lake, or the the cabin, and a barbecue.
Labor Day became a federal holiday in 1894, but it was first celebrated as a holiday in the United States on February 21, 1887. Of course, Labor Day is dedicated to the social and economic achievements of workers, but who wants to think about work on a federal holiday?
Whether you just spent the entire summer paying for child care and are happy to know that you now have a safe place to drop off your children Monday through Friday or you are wondering where your kids are going to be between the end of the school day and the end of your work day, child care is something that parents are all thinking about and trying to find solutions for at this time of year. In either case you need to know that your child care expenses are often tax deductible, however there are rules to consider, preparations to be made, and documents to save.
Being a sole proprietor has its tax advantages. Find out how you can benefit.
Forgot or put off your tax return? Here’s what you need to know.
It’s going to be ok. Or at least if you take care of it now, it’s going to be better than it will be if you keep avoiding filing your return.
Learn how your personal vacation can be turned into a legal deduction.
Automatic reinvestment is a great strategy but is still subjected to being taxed.
Many mutual funds give you the choice of automatically reinvesting dividends and capital gain allocations back into the fund. This is an excellent option to acquire new shares and build your investments.
The IRS requires you to meet specific obligations when hiring a new employee. Here’s a list of what you need to know to do
Employers are required to give you your W-2 by January 31st. Here’s what to do if you don’t have it.