Tax Due Dates

May 2019 Individual Due Dates

May 10 - Report Tips to Employer  If you are an employee who works for tips and received more than $20 in tips during April, you are required to report them to your employer on IRS Form 4070 no later than May 10. Your employer is required to…

Is Your Small Business as Profitable as It Can Be? It's Time to Find Out

There is an excellent chance that even if you're an expert in your particular industry, you're probably not an expert in small business finances. This may not seem like that big of an issue on the surface. However, in order to make the best…
Unhappy Couple

Tax Issues Related to Divorce

Divorce is a traumatic event in anyone’s life, and the tax aspects are frequently overlooked, which can add to the distress. The following is an overview of many of the commonly encountered tax issues associated with divorce.    Family…
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Employees’ Fringe Benefits after Tax Reform

Tax reform made a lot of changes, some of which impacted employees’ fringe benefits. This article reviews the most frequently encountered fringe benefits, including those that were and were not impacted by tax changes. These changes can affect…
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The Tax Benefits of Going Green

Congress uses tax deductions and tax credits to influence taxpayers’ actions. For instance, it seeks to stimulate taxpayers to reduce their energy consumption and moving away from the use of fossil fuels. In this article, we explore the benefits…
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Tax Benefits for Members of the Military

Military members benefit from a variety of special tax benefits. These include certain non-taxable allowances, non-taxable combat pay, and a variety of other special tax provisions. Here is a rundown on the most prominent of the tax benefits.…
Tax Due Dates

April 2019 Individual Due Dates

April 1 - Last Day to Withdraw Required Minimum Distribution Last day to withdraw 2018’s required minimum distribution from Traditional or SEP IRAs for taxpayers who turned 70½ in 2018. Failing to make a timely withdrawal may result in…
Tax Due Dates
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The Tax Filing Deadline Is Around the Corner

As a reminder to those who have not yet filed their 2018 tax returns, April 15, is the due date to either file a return (and pay the taxes owed) or file for an automatic six-month extension (and pay the an estimate of the taxes owed). Caution…
Retired Couple
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Tax Tips for IRA Owners

There are both opportunities and pitfalls for IRA owners, and while you definitely don’t want to get caught up in a pitfall, you may want to take advantage of the opportunities. IRAs come in two varieties: the traditional and the Roth. The…