Some Important Tax Changes for 2016
Individuals Health Insurance Coverage Penalties Penalties are assessed for each month that any individual does not have the minimum essential health insurance coverage (Obamacare). In 2016 the penalty increases to $695 per adult, or 2.5% of income with a family maximum of $2,085. Canceled Debt on Qualified Principal Residence Debt cancelled from short sale, foreclosure, or...Continue reading→
5 Year End Tax Tips for 2016
Below are some tips that can still save you money for 2016 1. Sell investments showing a loss to offset gains A key year-end strategy is called “loss harvesting” –selling investments such as stocks and mutual funds to realize losses. You can then use those losses to offset any taxable gains you have realized during...Continue reading→
5 Ways to Stop Stressing About Your Finances
Too much debt, not enough money, kids, marriage and the list can go on. There are a lot of reasons that you may be feeling some financial stress. It is one of the largest stressors on relationships. When you are stressed out it affects other aspects of your life. You may have a hard time...Continue reading→
Celebrate Halloween at Work
Traditions are important in companies just as they are in families. And, Halloween is one of the best holiday traditions to establish and to celebrate at work. Halloween has climbed right up the holiday charts and is now the second most popular holiday, second only to Christmas, so it’s popular with employees, too. Celebrating Halloween...Continue reading→
Tax Extension Deadline Is Oct. 15: Three Last-Minute Reminders
Autumn is upon us, and if you chose to file a tax extension this year, October 15 is your target date…your zero hour…your deadline. Your six-month grace period is coming to an end. If it feels as though the past few months have flown by, don’t fret, there is still time to submit your tax...Continue reading→
10 Habits of Highly Successful Small Business Owners
What differentiates those that fail from those that become raging successes? The unfortunate reality is that a lot of businesses fail. What differentiates those that fail from those that become raging successes? Certain traits and habits help business owners beat the odds and build highly successful companies. Here’s a look at the top 10: They dream...Continue reading→
Tax Benefits of Roth IRA?
What is a Roth IRA? A Roth IRA is a type of individual retirement savings account — similar to traditional IRAs and 401(k) plans. Like other retirement savings plans, investment income earned is not taxed, and there are penalties for taking money out early from the plan. What is distinctive about Roth IRA accounts is...Continue reading→
IRS Identifies Five Easy Ways to Spot Suspicious Calls
Did You Know? The IRS reminds people that they can know pretty easily when a supposed IRS caller is a fake. Here are five things the scammers often do but the IRS will not do. Any one of these five things is a tell-tale sign of a scam. The IRS will never: Call to demand...Continue reading→
Six Reasons to Hire Your Kid
It is summertime and the kids are out of school so it is a good time to hire them to work for you. The benefits are enormous. Here are six. Your child can develop a work ethic You can teach your child, from a relatively young age, the importance of having a job, having a boss and...Continue reading→
SIX PAYMENT OPTIONS WHEN YOU OWE THE IRS
Do You Owe the IRS and Cannot Pay in Full What are options available if you have a balance due on your tax return, and you do not have enough money to pay in full? Pay as much as you can by the Filing (April 15th) deadline. Even if you cannot pay the IRS in...Continue reading→