Tag Archives: taxes

Do you need to think about the alternative minimum tax?

You may not have thought much about the alternative minimum tax, or AMT, since Congress passed a law that permanently fixed the exemption. But the tax, which you calculate separately from your regular tax liability, is still around. Here’s how … Continue reading

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Get Ready for Tax Prep: What You Should Do

April 17 is still months away, but now’s the time to start preparing. You’re undoubtedly very busy right now. It’s the middle of the holiday season and moving quickly toward the end of the year, so you probably have reports … Continue reading

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Are you part of the “sharing” economy?

The IRS defines the “sharing” economy as economic activity generated through the use of technology that lets you earn money from your assets, such as a car. Income from these activities, including room rentals and car rides, is taxable, and … Continue reading

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Don’t get stuck with an underpayment penalty

Don’t let penalties for underpaid taxes increase your tax bill next April. Check the total you’ve paid in for 2016 through withholding and/or estimated taxes. If you’ve underpaid, consider adjusting your withholding for the final months of the year or … Continue reading

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Accountable plans are a win-win business idea

Are you looking for a way to give your employees a tax-free benefit that is also tax-deductible for your business? Consider an accountable plan. These arrangements let you reimburse your employees for expenses incurred on behalf of your company, such … Continue reading

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Access tax details online

Transcripts of your federal income tax return, tax account, wages and income, and record of account, as well as a verification of non-filing, are once again available for no charge online at the IRS website. Sign up to view, print, … Continue reading

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IRS interest rates rise for the second quarter of 2016

The interest rates the IRS charges on underpaid taxes and pays on tax overpayments have gone up for the second quarter of 2016 (April 1 through June 30). Here are the new rates for individuals and corporations. For individuals: 4% … Continue reading

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