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Having a child, getting promoted or buying a home are all reasons you may need to make tax adjustments in 2018. That could mean adjusting your withholding or increasing retirement plan contributions. We can help you determine what needs to be adjusted to ensure you are in the best position when ...

In 2018, you can give anyone up to $15,000 ($30,000 if you’re married) by Dec 31. Without having to pay gift tax or file a gift return. The gift tax exclusion is annual and can be adjusted for inflation. In contrast, the gift tax exemption is a lifetime limit. It includes the total amount you can ...

Small and mid-sized businesses are more vulnerable to fraud than larger organizations, and the effects can be more damaging. The types of fraud that businesses need to be aware of generally fall into three categories: Theft, financial statement fraud and asset misuse. Theft, or misappropriation of ...

In late June 2018, the U.S. Supreme Court reversed a long-standing position and ruled that a physical presence was not required for a state to impose a sale and use tax collection obligation on an out-of-state business.South Dakota v. Wayfair, Inc. overturned the court’s 1992 Quill Corp. v. North ...

If you itemize, you can claim deductions for real estate taxes and mortgage interest, including points you paid on the home purchase. You may also be able to take a medical deduction for special equipment or improvement installed in your home if the main purpose is medical care for you, your spouse ...

1.) The date of a stock sale is also the trade date. This is Important, as gains on investments held for more than a year are taxed at lower rates than on those held for less than a year. 2.) Your basis may be increased by reinvested mutual fund dividends. 3.) You can use up to $3,000 of the excess ...

The answer depends on your total income from all sources (including tax-exempt interest), as well as your filing status. When Social Security is your only income, benefits are generally not taxable. If you have income from other sources as well, up to 85 percent of your benefits can be taxable. We ...

Don’t cash out your retirement plan if your employment status changes. If you do, you may owe federal income tax and a penalty. Instead, you may be able to leave the money in your former employer’s plan or set up a direct rollover to your new employers’ plan or an IRA. As you consider your options, ...

Before hiring an applicant for a job position, an organization goes through a step-by-step process to find the most qualified candidate to fill the role. Though a search can take time, a rushed hire can lead to additional staff turnover and missed opportunity costs. A bad hire can cost you 30% of ...

Note: There are additional requirements for foreign students and dependents who have an ITIN. Review the American Opportunity Tax Credit and Publication 519, U.S. Tax Guide for Aliens for details. Tax credits, deductions and savings plans can help taxpayers with their expenses for higher education. ...