Sep 29, 2016 | Individuals
For anyone who takes a spin at roulette, cries out “Bingo!” or engages in other gambling activities, it’s important to be familiar with the applicable tax rules for gambling winnings and losses. Otherwise, you could be putting yourself at risk for interest or...
Sep 26, 2016 | Individuals
If you recently redeemed frequent flyer miles to treat the family to a fun summer vacation or to take your spouse on a romantic getaway, you might assume that there are no tax implications involved. And you’re probably right — but there is a chance your miles could be...
Sep 21, 2016 | Small Business
Has your small business procrastinated in setting up a retirement plan? You might want to take a look at a SIMPLE IRA. SIMPLE stands for “savings incentive match plan for employees.” If you decide you’re interested in this type of retirement plan, you must establish...
Sep 15, 2016 | Individuals, Small Business
Paying the proper amount of tax by the annual federal income tax filing deadline isn’t always enough to avoid penalties and interest; you must also meet requirements for paying tax throughout the year through withholding and/or quarterly estimated tax payments. If you...
Sep 12, 2016 | Nonprofits, Small Business
Employers must withhold income and employment taxes (including Social Security) on wages paid to their employees. The taxes must then be paid over to the IRS according to a payroll tax deposit schedule. Some business owners and executives facing a cash flow crunch may...
