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Which 2016 tax law changes can affect my business’s federal tax filings? Accelerated Filing Deadlines for Forms W-2, W-3 and Form 1099-MISC January 31, 2017. Previously, the deadline was the end of February to file paper Forms W-2 with the SSA and until the end of March to make electronic filings. The January 31 deadline
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Are you self-employed? Did you know that the IRS can charge you interest and penalties if you don’t properly estimate (and pay) your quarterly taxes? If you’re self-employed or earn additional income from sources that do not withhold federal income taxes, you may have to make quarterly estimated tax payments. In some cases, your Social
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Tax filing season always leaves behind shoeboxes full of receipts and documents. Tax record retention can be vital in case of an audit. But how long do you need to hold on to your records? Federal law requires you to maintain copies of your tax returns and supporting documents for three years after the due date
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Well folks, it’s that time again. Time to start scratching you head, wondering… Can this expense be an itemized tax deduction on my return? Given the season, Let’s review some of the more common deductions for those taxpayers who itemize on their Federal Income Tax Return. The largest and most common itemized tax deductions are for
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Each tax season we are asked the same social security benefits questions. Are my Social Security benefits subject to tax? How much of my Social Security is taxable? The answer is often the same and not much help – it depends. In 1983 Congress first approved Social Security benefits tax. At the time, there was concern that