August 2022
Estimated Tax Payments: Who Owes Them And When Is The Next One Due?
If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments. This is the case if you receive interest, dividends, self-employment income, capital gains [...]
The Kiddie Tax: Does It Affect Your Family?
Many people wonder how they can save taxes by transferring assets into their children’s names. This tax strategy is called income shifting. It seeks to take income out of your higher tax bracket and place [...]
Three Tax Breaks for Small Businesses
Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples. QBI deduction For 2018 through 2025, the qualified business [...]
How to Treat Business Website Costs for Tax Purposes
These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on when website costs can be deducted. Fortunately, established rules that generally apply to the deductibility of business costs provide business [...]
Is Your Withholding Adequate? Here’s How To Check
When you filed your federal tax return this year, were you surprised to find you owed money? You might want to change your withholding so that this doesn’t happen again next year. You might even [...]
Important: More Passthrough Entity Tax Problems
Due to an issue with some software providers, many passthrough entity tax payments made with 2022 vouchers have been improperly applied to the 2021 tax year. This is resulting in refunds of June passthrough entity [...]