Article Highlights: • Holiday Season Charity Gifts • Long-form Itemization Required • Documentation for Taxes • Monetary Donations • Property Donations • Charity Scams • Qualified Charities Only • Disaster Scams • ID Thieves The holiday season is the favorite time of the year for charities to solicit donations. It is also the time of year when scammers show up in force, … [Read more...] about Tips for Holiday Charity Giving
December 2016 Individual Due Dates
December 1 - Time for Year-End Tax Planning December is the month to take final actions that can affect your tax result for 2016. Taxpayers with substantial increases or decreases in income, changes in marital status or dependent status, and those who sold property during 2016 should call for a tax planning consultation appointment. December 12 - Report Tips to Employer … [Read more...] about December 2016 Individual Due Dates
Habits That Threaten Your Identity and Pocketbook
Article Highlights • What’s In Your Wallet Or Purse • Your Fear Of The IRS • Using Public Internet Connections • Not Screening Your E-Mails • E-Mailing And Texting Sensitive Information • Being Free and Easy With Passwords • Using Identical Passwords They’re just old habits. You likely to do them without even thinking. But these habits could be making you vulnerable to … [Read more...] about Habits That Threaten Your Identity and Pocketbook
November 2016 Individual Due Dates
November 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during October, you are required to report them to your employer on IRS Form 4070 no later than November 10. Your employer is required to withhold FICA taxes and income tax withholding for these tips from your regular wages. If your regular wages are insufficient … [Read more...] about November 2016 Individual Due Dates
Accounting 101: How to Read an Income Statement
Your income statement is one of the most important documents your company produces. However, if you are the owner of a new business, or if you aren't familiar with this type of statement, preparing and interpreting it can be challenging. To read your income statement accurately, consult the information below. What is an Income Statement? An income statement, which may also be … [Read more...] about Accounting 101: How to Read an Income Statement