If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The second quarter due date is now here.
Reminder: Second Quarter Estimated Taxes Due
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Profit & Tax Blog
2020 Health Savings Account Limits
The savings limits for the ever-popular health savings accounts (HSA) are now set for 2020. The new limits are outlined here with current year amounts noted for comparison.
2018 Audit Rates
A closer look at the IRS data release reveals some audit pitfalls you should know about. Read on for more info.
How to Maximize Your Social Security
You can begin receiving your Social Security retirement benefit as early as age 62. But by putting off your benefit start date you can receive a check that is 8 percent higher for each year you delay receiving your benefit. Read on for more info.
3 Things to Know About Summer Job Taxes
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 to help you manage the taxes on your summer earnings.
The $500,000 Homeowner Tax Break
There is large tax break that allows you to exclude up to $250,000 ($500,000 married) in capital gains on the sale of your personal residence. But making the assumption that this gain exclusion will always keep you safe from tax can be a big mistake. Here is what you need to know.
Toss This. Not That.
Tax season is over and yet another tax return has been sent off to the government. If the IRS or state revenue department selects your return for review, you will need to be prepared. Here is what you need to know.
Improve Next Year’s Tax Situation Now!
Whether you receive a big refund or pay taxes on tax day, taking action now can ensure next year’s tax bill is optimized by not paying a dollar more than necessary.
Don’t Let Disaster Befall Your Favorite Charity
The filing deadline for most non-profit organizations is May 15. Missing this deadline results in penalties that can devastate the organization’s budget, or worse, strip them of their non-profit status and make your donations non-tax deductible! Here’s what you can do to help them.
Reminder: First Quarter Estimated Taxes Now Due
If you have not already done so, now is the time to review your tax situation and make a 2019 estimated quarterly tax payment using Form 1040-ES. The first quarter due date is now here. Read on for points to consider.
