If you are a working parent or look for work this summer, you may need to pay for the care of your child or children. These expenses may qualify for an IRS Child Care Tax Credit that can reduce [...]
June 2013 June 10 Employees who worked for tips — If you received $20 or more in tips during May, report them to your employer. You can use Form 4070. June 17 Individuals – If you are [...]
On January 2, 2013, the President signed the American Taxpayer Relief Act of 2012. The law did not extend the 2% cut in payroll tax on wages and self-employment income. The new law does make [...]
Now that Congress has passed the American Taxpayer Relief Act of 2012 (ATRA) and avoided the so-called “fiscal cliff,” tax law changes for 2013 will hit higher-income taxpayers hard.
Your income may limit your ability to open a Roth IRA, but you can take a different path to a Roth IRA by converting a traditional IRA to a Roth IRA. You can convert a traditional IRA to a Roth [...]
Form I-9 is the standard form issued by the USCIS (The U.S. Citizenship and Immigration Services) that every business must use to verify the identity and employment eligibility of all individuals [...]
Check the amount of income tax being withheld from your wages early in 2013, and again whenever your circumstances change during the year (marriage, divorce, new baby, etc.). You must meet [...]
May 2013 May 10 Employees who work for tips – If you received $20 or more in tips during April, report them to your employer. You can use Form 4070. June 2013 June 10 Employees [...]
Is Your Hobby a For-Profit Endeavor? If you have a hobby that produces income, you must report that income to the IRS. But whether you can deduct all of your expenses depends on whether you [...]
Keep your tax records for as long as you might be audited for a given year. Generally, that’s three years after you file the return, though the IRS has six years to audit you if you’ve omitted [...]
