Business Year End Suggestions
A quick run down of some items that businesses should review prior to the year's end with some appropriate year end info to guide choice making. As well as some items to think about for the upcoming year.
Year End Homework – Individuals
Covers a few items that individuals should review or complete before the year's end. Open enrollment Health-Care options (HDHPs,HSAs,FSAs) & Legal Plans.
IRS Identity Protection (IP) PIN
As we all know, identity theft is so rampant that it does not even make the news anymore. Sadly, I’ve had free credit protection for years due to numerous security…
IRS Announces New 2025 Limits
IRS Announces New 2025 Limits. Includes Standard deductions, Marginal rates, Alternative minimum tax exemption amounts, Earned Income Tax Credits, Qualified transportation fringe benefit, Health flexible spending cafeteria plans, Medical savings accounts...
What you should know about Libra; the upcoming Facebook-backed cryptocurrency
Some people buy cryptocurrency as an investment. Others hope that the value will increase so that the items they are purchasing will effectively cost less. Libra doesn’t take that tactic…
Subcontractors; Form 1099-MISC
Do you pay subcontractors? Have you always issued Form 1099-MISC with Box 7 – nonemployee compensation filled in? For 2020, forms filed in 2021, that appears to be changing. The…
Identity Theft – Tax Related
If your identity has been compromised with the Internal Revenue Service (IRS), you will find out in one of two ways. The first is that your e-filing of your personal…
FAFSA
It used to be that you filed your FAFSA as soon as your personal income taxes were complete. NOT ANY MORE! You can start filing your FAFSA October 1st. Remember…
A Relative Has Died. Now What?
First off, you have to see if there is a will, or a living trust. Then you have to look at all the assets that the decedent owned. Some items…