Will You Pay Tax on Your Social Security Benefits?

Some individuals who start drawing social security benefits end up with a nasty surprise come tax time – they owe tax on a portion of these benefits! After all, such benefits were historically exempt from any federal income tax. Times have changed, however, and you need to

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Tax Time, Ready or Not

It’s always a huge relief to many people who get their taxes done early. That gray cloud of stress that nags at you to get it over with can be gone in a matter of weeks instead of months. April is right around the corner, and here

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Using a Vehicle for Business: Q&A

IRS rules and exceptions abound, but there are some questions we can answer simply.   Next to your home, your car is probably the most expensive investment you make. And the costs of paying for and maintaining it can be considerable. Can you recoup some of your

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Tax Planning, 12 Months a Year

Tax Planning, 12 Months a Year We’re halfway through 2016. What do you know about this year’s income tax obligation?   Your 2016 income taxes are probably not at the top of your mind in the middle of summer. After all, it seems like you just filed

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Retirement Plans for Sole Proprietors

Granted, retirement plans are usually easier if you’re a full-time employee. But if you’re self-employed, you can still contribute to a retirement plan. It’s expensive to be a sole proprietor. If you’ve been one for any length of time, you already know that. There’s the self-employment tax.

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All About Past Due Tax Returns

Taxpayers neglect to file returns for countless reasons. If you’re one of them, here’s what you need to know. Believe it or not, there are individuals who don’t file tax returns even though they’re owed a refund. (They do have three years to claim it.) It’s more

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How to Avoid Sales Tax Surprises

Sales tax laws are constantly changing, and sales tax audits have increased since states and local agencies have become creative about finding new ways to generate revenues.  If you haven’t made any changes in your sales tax procedures in a while, you are probably at risk. Taxability

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