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Medical and Dental Expenses: What Can You Deduct?
Can you deduct medical and dental expenses? That's a complicated question. To start with, your deductions must exceed 7.5 percent of your adjusted gross income. And they have to fall into an IRS-approved category. Deductible medical expenses may include, but aren’t...
read moreTo Lease or to Buy — That Is the Question
Businesses looking to acquire assets in the most cost-effective way must weigh the pros and cons of leasing versus buying. Small businesses, especially, often favor leasing equipment as an alternative financing arrangement to acquire the use of assets without having...
read moreIs a Franchise the Right Move for You?
Many would-be entrepreneurs wonder what it might be like to open a franchise. There are hundreds of possibilities, each with its own policies and minimum investments, but let's consider one of the most famous. Imagine you're opening your own McDonald's; you have to...
read moreHow You Can Keep Your Finances in Order Year-Round
Where is the best place to start on a journey to get and keep your finances in order? Gather your financial paperwork, including whatever pertains to your credit cards, phone and utility bills, bank statements, insurance and mortgage payments, and any other financial...
read moreQualified Retirement Plans: Know the Rules
The IRS annually releases its Required Amendments (RA) list, which includes changes that individually designed retirement plans may need to make in order to remain qualified under the Internal Revenue Code. The most recent RA list was released via Notice 2017-72,...
read moreNew IRS Guidance on State and Local Taxes
The IRS will be addressing the deductibility of state and local tax payments for federal income tax purposes. It's a reminder that federal law controls payments for federal income tax purposes no matter how state law wants to view things. The Tax Cuts and Jobs Act...
read moreWhat to Take Out of Employees’ Paychecks
The rules for withholding federal payroll taxes are quite straightforward, applying to most employees in the United States, regardless of location. The rules tend to be more complicated on the state side, however, as they are location specific and may even include...
read moreAre Annuities Right for You?
Annuities are financial products sold by insurance companies that allow you to put aside money, have it increase each year without paying taxes and then trigger a stream of future payments on a timetable you can control. Unlike IRAs, there's no income limit on how...
read morePasswords: Making Them Hard to Crack
Why work on making your passwords stronger? Hackers will attack the low-hanging fruit first. What attackers will do is steal the storage of passwords on a vulnerable screen. These passwords are encrypted, but with tools like Pwdump, Airodump-Ng and the Meterpreter,...
read moreCheck Your Withholding Now
The IRS is urging two-income families and folks who work multiple jobs to complete a paycheck checkup to verify that they're withholding the right amount of tax from their paychecks. You can check out the IRS Withholding Calculator to help navigate the complexities of...
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