February 1 - Tax Appointment If you don’t already have an appointment scheduled with this office, you should call to make an appointment that is convenient for you. February 1 - File 2015 Return to Avoid Penalty for Not Making 4th Quarter Estimated Payment If you file your prior year’s return and pay any tax due by this date, you need not make the 4th Quarter Estimated Tax … [Read more...] about February 2016 Individual Due Dates
Are You Ignoring Retirement?
Article Highlights: Predicting Social Security Income Planning for the Future Employer Retirement Plans Tax Incentive Retirement Savings Plans Are you ignoring your future retirement needs? That tends to happen when you are younger, retirement is far in the future, and you believe you have plenty of time to save for it. Some people ignore the issue until late in life … [Read more...] about Are You Ignoring Retirement?
Jointly or Separately – How to File After Saying I Do
Article Summary: Filing Options Married Filing Jointly Unpleasant Consequences Pleasant Consequences Married Filing Separately A taxpayer’s filing status for the year is based upon his or her marital status at the close of the tax year. Thus, if you get married on the last day of the tax year, you are treated as married for the entire year. The options for married … [Read more...] about Jointly or Separately – How to File After Saying I Do
Don’t Miss Out on the Earned Income Tax Credit
Article Highlights: Earned Income Tax Credit (EITC) Qualifications Computing the Credit Limit on Investment Income Military Combat Pay Election EITC Scams Banning EITC Filers The Earned Income Tax Credit (EITC) is a tax benefit for working people who have low to moderate income. It provides a tax credit that is treated like tax withholding: it goes to pay an … [Read more...] about Don’t Miss Out on the Earned Income Tax Credit
ABLE Accounts and Individuals with Disabilities
Article Highlights: Asset limitations when receiving Medicaid or federal Supplemental Security Income $100,000 account limit Similar to Sec 529 education savings accounts Annual limit on contributions Qualified expenses Congress created Achieving Better Life Experience (ABLE) accounts in 2014. Prior to the creation of the ABLE accounts, individuals with disabilities … [Read more...] about ABLE Accounts and Individuals with Disabilities