The Individual Shared Responsibility Provision – The Basics
UncategorizedThe individual shared responsibility provision requires that you and each member of your family have qualifying health insurance, a health coverage exemption, or make a payment for any months without coverage or an exemption when you fil...
Who Can Represent You Before the IRS?
UncategorizedIf you choose a tax pro, you should know who can represent you before the IRS. There are new rules this year, so the IRS wants you to know who can represent you and when they can represent you. Choose a tax return preparer wisely. Repre...
What Should You Bring to Have Your Tax Return Prepared ?
UncategorizedFollowing is a list of the more common items you should bring if you have them. – Wage statements (Form W-2) – Pension, or retirement income (Forms 1099-R) – Form to verify health insurance coverage (Form 1095) – Dependents’ Social Secur...
A New Bill Has Passed with Important Changes for Individuals and Small Businesses
Uncategorized$250 above-the-line deduction for qualified out-of-pocket expenses of teachers and other educators is made permanent. The $250 will be indexed for inflation going forward. Starting in 2016 courses for professional development will also...
Treasury and the IRS Announce Extension of 2016 Due Dates for 1095-C and Others
UncategorizedThe U.S. Department of the Treasury and the Internal Revenue Service (IRS) announced a limited extension of the early 2016 due dates for the 2015 information reporting requirements for employers and insurers under the Affordable Care Act...
2016 Tax Season Opens January 19 for Nation’s Taxpayers and Ends on April 18
UncategorizedThe IRS will begin accepting individual electronic returns that day. The IRS expects to receive more than 150 million individual returns in 2016, with more than four out of five being prepared using tax return preparation software and e-...
2016 Standard Mileage Rates for Business, Medical and Moving Announced
UncategorizedThe Internal Revenue Service today issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2016, the sta...
IRS Tips to Help People Pay Their Taxes
UncategorizedIf you owe tax, the IRS offers safe and easy ways to pay. Check out these payment tips: Pay your tax bill. If you get a bill, you should pay it as soon as you can. You should always try to pay in full to avoid any additional charges. Se...
For Small Businesses: IRS Raises Expensing Threshold to $2,500
UncategorizedThe change affects businesses that do not maintain an applicable financial statement (audited financial statement). It applies to amounts spent to acquire, produce or improve tangible property that would normally qualify as a capital ite...
Tips for Business Emails
Uncategorized1) The subject line should be clear and concise. 2) Spell check your emails and proof read them for the things spell check may miss. 3) Be professional, this usually will mean use proper greetings, if possible identify your recipient by ...