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Tax tips from the pros.

It’s time for your mid-year tax check up

The Internal Revenue Service launched the new Tax Withholding Estimator, an expanded, mobile-friendly online tool designed to make it easier for everyone to have the right amount of tax withheld during the year. The Tax Withholding Estimator replaces the Withholding Calculator, which offered workers a convenient online method for checking their withholding. The new Tax […]

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Got Receipts? Here’s What to Keep

If you’re going to itemize specific expenses and deductions when filing your taxes this year but haven’t saved every single thing, you need to know which receipts you should prioritize having on hand. Find out exactly which receipts you should be saving and why — and how to be well-prepared when you have taxes due. […]

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Employing your kids this summer creates a great tax break

It’s summer-time! For most small business owners that means your kids end up logging some time at your workplace. Even if that’s not in your plans, perhaps it should be a part of the summer plans. There are plenty of benefits to engaging your child to work for the family business, but one you may […]

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The IRS has over $1.4B in unclaimed tax refunds

Unclaimed income tax refunds totaling almost $1.4 billion may be waiting for an estimated 1.2 million taxpayers who did not file a 2015 Form 1040 federal income tax return, according to the Internal Revenue Service. To collect the money, these taxpayers must file their 2015 tax returns with the IRS no later than this year’s […]

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Out of pocket expenses for employees are no longer deductible

The Tax Cuts and Jobs Act (TCJA) brought wholesale changes to the tax code. Taxpayers are starting to feel the effects of this bill as they file the first year’s tax returns affected by the changes in the tax law. While this law increased certain credits and deductions, it eliminated others. Fortunately, in some cases […]

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