Tax returns for partnerships and S-corps that pay on a calendar year are due this Friday, March 15th. C-corps have an additional month to complete and file their returns (those are due on the April 15th tax deadline). Are you ready to file? If the answer is no, you need to file an extension, which …
If you have completed a tax projection that shows tax due, now is the time to look at ways you can reduce or defer your tax burden before the end of the year. Where should I invest to reduce my personal tax liability? Individual taxpayers can take advantage of various tax planning strategies. Here are …
Preparing for Year End As the end of the year approaches, it can be confusing to decide what information you need to get together and send to your accountant. We all know that January 1st will be here before we know it, so we have put somethings together to help your business out. To Prepare …
In our last post, we told you how the Hurricane Irma may have affected your tax deadline. But has the storm’s devastation impacted the deadline for retirement plan funding? The IRS does not specifically address the deadline for accrued retirement plan funding for those allowed an extension of time to file certain tax returns through …
What is a Safe Harbor 401(k) Trying to Solve? Before you ask what a safe harbor 401(k) is, you should understand why someone would want one. Most 401(k) plans face an annual non-discrimination test where the IRS checks to see if highly compensated employees or business owners are maxing out 401(k) contributions for the …
5 little-known tax surprises you should be planning for now
Plan ahead to avoid tax surprises if you’re involved in a lawsuit, receive scholarship funds, inherited an IRA, deduct state/local taxes, or like to gamble.IRS drafts tax return for seniors, updates 1040 for 2019
The Internal Revenue Service has posted a draft version of a new tax return for senior citizens, as well as a new draft version of the Form 1040 for 2019 that taxpayers and practitioners will be filin...