Health Savings Accounts Offer Tax Breaks

A health savings account (HSA) is a trust account into which tax-deductible contributions can be deposited by qualified taxpayers who have high-deductible medical insurance plans.

If you run your small business out of your home, you may want to “write off” many of your household expenses.  But how do you know what is deductible and what is not?

September 2015 September 10 Employers – Employees are required to report to you tips of $20 or more earned during August. August 15 Employers – Deposit payroll tax for August if the [...]

Generally, home improvements are not deductible except to offset home gain when the home is sold. But a medical expense deduction may be claimed

Generally, teenagers and young adults do not consider the long-term benefits of retirement savings.

Waiting for your regular tax appointment to discuss current tax-related issues can create problems or cause you to miss out on beneficial options that need to be timely exercised before year-end.

August 2015 August 10 Employers – Employees are required to report to you tips of $20 or more earned during February.File Form 941 for the second quarter if you timely deposited all [...]

July 2015 July 10 Employers – Employees are required to report to you tips of $20 or more earned during February. July 15 Employers – Deposit payroll tax for June if the monthly [...]

The IRS mails millions of notices and letters to taxpayers each year.  There are a variety of reasons why they might send you a notice.  Here are the top 10 tips to know in case you get one.

 You will receive a dreaded IRS letter when the IRS thinks it has found an issue with your tax return.