Thursday May
- 2012
- 17
If you go back a few years, you may remember that every year, about three months before your birthday, you received an earnings and benefits statement from the Social Security Administration providing you with a history of your earnings and projected benefits. Then, along came a recession and the accompanying budget cuts and the mailing out of the statements stopped, except for workers age 60 and over. Read More
Tuesday May
- 2012
- 15
What to Do If You Receive an IRS Notice
by Lee Reams in 1040 & Personal Finance
It's a moment many taxpayers dread. A letter arrives from the IRS and it's not a refund check. But don't panic; many of these letters can be dealt with simply and painlessly. Read More
Thursday May
- 2012
- 10
Forgot Something on Your Tax Return? It's Not Too Late to Amend the Return
by Lee Reams in 1040 & Personal Finance
If you discover that you forgot something on your tax return, you can amend that return after it has been filed. The need to amend can include a number of issues: Read More
Tuesday May
- 2012
- 8
How Business Website Expenses Are Deducted
by Lee Reams in Small Business
With the explosion of online businesses, one would think that there would be a standard method of deducting the cost of your business website. But some questions still exist as to what part of a website is considered software, and to date, the IRS has not fully clarified that issue for tax purposes. Read More
Thursday May
- 2012
- 3
Big Changes Coming for Investors in 2013
by Lee Reams in 1040 & Personal Finance
2013 will bring some big changes for investors, and none of them for the better. Taxpayers affected by these upcoming changes may wish to consider taking actions in 2012 to mitigate the impact of these changes. The following are the changes that will affect investors in 2013. Read More
Tuesday May
- 2012
- 1
Read This Before Tossing Old Tax Records
by Lee Reams in 1040 & Personal Finance
Now that you've completed your taxes for 2011, you are probably wondering what old tax records can be discarded. If you are like most taxpayers, you have records from years ago that you are afraid to throw away. To determine how to proceed, it is helpful to understand why the records needed to be kept in the first place. Read More
Thursday April
- 2012
- 26
The distinction has significant implications for both the employer and the employee. Employers like to treat individuals as independent contractors because they avoid having to match the employees' payroll tax, pay benefits, pay unemployment insurance, etc. This results in a significant savings for employers. Read More
Tuesday April
- 2012
- 24
Can You Write Off a Bad Debt?
by Lee Reams in 1040 & Personal Finance
Most small businesses have receivables that cannot be collected. These receivables can be from the sale of products, providing services to customers, or a combination of the two. Read More
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