In mid-December 2015, Congress renewed the extenders that expired last year. But this time, the extender renewal went further than making the breaks retroactive to the beginning of 2015. Some of the rules are now effective through December 31, 2016,
Read moreWhen you're short of cash, raiding your 401(k) plan may seem like a good idea. Here are two reasons why it isn't. Penalties and Taxes. If you're not at least 59-1/2 years old, you'll be hit with a 10% penalty
Read moreCan you name basic documents that can ease decision making for your family if something happens to you? Here are four to think about as part of your overall personal financial plan. Will. As you know, a will lets you,
Read moreAs year-end approaches, remember to check your 2014 federal income tax return for items that can affect your 2015 planning. Here are three to look for. Capital Loss Carryover. If your capital losses exceeded your capital gains in 2014, you
Read moreThe 2010 Affordable Care Act added a 40% excise tax on high-cost employer-sponsored health insurance (sometimes called "Cadillac" plans). "High-cost" means plans with an annual cost of more than $10,200 for an individual and $27,500 for a family. Beginning in
Read moreFirst, the "smart phone" was introduced. Next came the "smart television." It was inevitable that the "smart card" would make its way into the marketplace. Smart card, commonly called EMVs (an acronym for Europay, MasterCard, and Visa), are already in
Read moreWhen you start a business, you have many decisions to make. One is the method of accounting your business will use for reporting income and expenses on your tax return. Two methods generally used are "cash" and "accrual". The cash
Read moreIf you discover an omission or error made on a tax return you have already filed, you may need to file an amended return. Here are some IRS tips for amending returns. Use Form 1040X. You must file a paper
Read moreAccording to the U.S. Department of Health and Human Services, nearly 70% of people turning age 65 will require long-term care, such as assistance with basic personal activities during their lifetimes. With costs of this care ranging from $6,000 to
Read moreAre you still unclear about your responsibilities as an employer under the Affordable Care Act (ACA)? Do you find the definition of ACA terms confusing? Here’s a plain English guide to selected terms employers are likely to hear their explanation.
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