If you have received an inheritance or anticipate receiving one in the future, this article may answer many of the questions you might have. The process of claiming an inheritance can be quite complex, and it helps to understand the basics and be aware of potential tax liabilities. NOTE: Special rules, not covered in this article, will apply if the decedent’s death … [Read more...] about Inheritances Can Be Tricky
How the Health Care Law Will Impact Your Taxes
There has been a great deal of media coverage related to the US Supreme Court upholding the Affordable Care Act, also known as the Health Care Law. The media coverage was generally political and failed to explain the details of how the law will impact individuals. If you are interested in political rhetoric as to whether it is a tax, penalty, or a forced purchase, look no … [Read more...] about How the Health Care Law Will Impact Your Taxes
July 2012 Business Due Date Reminders
July 1 - Self-Employed Individuals with Pension Plans If you have a pension or profit-sharing plan, you may need to file a Form 5500 or 5500-EZ for calendar year 2011. Even though the forms do not need to be filed until July 31, you should contact this office now to see if you have a filing requirement, and if you do, allow time to prepare the return. July 16 - Non-Payroll … [Read more...] about July 2012 Business Due Date Reminders
July 2012 Individual Due Date Reminders
July 1 - Time for a Mid-Year Tax Check Up Time to review your 2012 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties. July 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during June, you are required to report them to your employer on IRS … [Read more...] about July 2012 Individual Due Date Reminders
QuickBooks Reports Help You Maintain Balanced Inventory Levels
Running out of products too frequently? Having to sell cheap because inventory is overloaded? Use QuickBooks' reports. It seems so simple in theory. Don't overstock goods because you'll tie up too much money and perhaps need a clearance sale to get rid of the excess. On the other hand, don't let yourself run out of anything and lose orders. In practice – especially if you … [Read more...] about QuickBooks Reports Help You Maintain Balanced Inventory Levels