News

More than 50 tax provisions, including the tax rate schedules and other tax changes are adjusted for inflation in 2017. Let’s take a look at the ones most likely to affect taxpayers like you. The tax rate of 39.6 percent affects singles whose income exceeds $418,400 ($470,700 for married taxpayers filing a joint return), up […]

Military personnel and their families face unique life challenges with their duties, expenses and transitions. As such, active members of the U.S. Armed Forces should be aware of all the special tax benefits that are available to them. Here are 10 of them: 1. Moving Expenses. If you are a member of the Armed Forces […]

Taxpayers may sometimes find themselves in situations when they need to withdraw money from their retirement plan early. What they may not realize is that taking money out early from your retirement plan may trigger an additional tax. Here are 10 things taxpayers should know about early withdrawals from retirement plans: 1. Payments you receive […]

Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car, van, pickup or panel truck are: 53.5 cents per mile for business miles driven, down from 54 cents for 2016 17 cents per mile driven for medical or moving purposes, down from 19 cents for 2016 14 cents per mile […]

For the past year, you’ve been faithfully creating new records, entering transactions, and recording payments. You’ve run basic reports. You’ve done your collection duties. You may have even paid employees and submitted payroll taxes. Now that another year has come and gone, if you haven’t done so, it’s time to wrap and review those work […]

During January All employers – Give your employees their copies of Form W-2 for 2016 by January 31, 2017. If an employee agreed to receive Form W-2 electronically, post it on a website accessible to the employee and notify the employee of the posting by January 31. All Businesses – Give annual information statements to […]