Monthly Archives: April 2016

Identity theft: The IRS offers tips to protect your data

The IRS has launched a new campaign to encourage you to protect your tax and financial data, both digital and paper. As part of the campaign, the IRS plans to release videos and consumer friendly tax tips, and sponsor local … Continue reading

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Depreciation breaks boost tax deductions

Did you buy equipment or other business assets during 2015? Here are the current rules for maximizing your tax deduction. Section 179. Under code Section 179, you can expense many types of otherwise depreciable property used in your business. Both … Continue reading

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What’s the penalty for not having health insurance?

Did you have health insurance in 2015? If not, you may owe a penalty on your federal income tax return. For 2015 returns, the penalty is the higher of a flat dollar amount or a percentage of your household income. … Continue reading

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Smart Review Tactics Lead to Long-Term Business Success

    As a business owner, monitoring operations and dealing with everyday problems no doubt takes up the bulk of your day. But carving out time for a comprehensive review can benefit your business. Here are key areas to consider. … Continue reading

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No need to itemize to claim these deductions

Are you part of the approximately 68% of taxpayers who IRS statistics say claim the standard deduction instead of itemizing? If so, you can still deduct some expenses on your 2015 federal income tax return. Individual retirement account (IRA) contributions … Continue reading

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Use Taxes to Reduce Your Tax

Are you planning to itemize on your 2015 federal income tax return? If so, you can claim a deduction for taxes paid. According to IRS statistics, taxes are the most frequently claimed itemized deduction, as well as the largest. But … Continue reading

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Retirement Plans for Sole Proprietors

Granted, retirement plans are usually easier if you’re a full-time employee. But if you’re self-employed, you can still contribute to a retirement plan. It’s expensive to be a sole proprietor. If you’ve been one for any length of time, you … Continue reading

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