Today, we’ll cover two birds with one stone. A little bit about taxes ad a little bit about education- actually, the intersection of the two. We’ll discuss tax breaks and considerations for your education and the education of your children (should you have any).
Continue reading Gimme a break (for tuition)
Oh, yes. We can’t raise taxes, that’s what they say. We will be taxing the folks that hire- and they will take their toys away and not hire anyone. REALLY?
Continue reading Was it Tidal or Tsunami?
The guaranteed way a company owner can get himself (or herself) in deep, almost unrecoverable, trouble with the IRS is to not pay employment taxes. Employment taxes are the withholdings of income tax, Social Security, and Medicare from an employee’s paycheck. The IRS is forever on the lookout for companies that fail to pay these taxes on time.
Continue reading Go Directly to Jail. Do NOT Pass Go!
Another installment in the changes coming about- or, why I am discussing taxes in August.
First- if you filed an extension, the clock is ticking- much louder now. 15 October is the absolute drop dead date for individuals (15 September for corporations). And, that is only for the filing. Your taxes IN FULL were due way back in April (or March for corporations). Filing an extension really only helps if you don’t owe money. If you do owe money, you can expect to pay penalties and interest, too. Someone is going to pay that deficit down.
Continue reading Taxes? Now? It’s only August!
Continue reading Discourse requires common definitions
I am sure you are all knee-deep into arranging all your receipts (I am sure that it’s not just my clients that use shoe boxes or banker’s boxes) since taxes are due (corporate/partnership/trust due in 39 days, individuals in 73 days), here are a few hints if you are involved in a business (that means you make a profit 3 out of 5 years- otherwise the IRS considers it a hobby).
Continue reading Business filers- don’t forget these travel deductions
