KEEP YOUR RECORDS SAFE IN CASE DISASTER STRIKES Some natural disasters are more common in certain seasons. But major events like hurricanes, tornadoes, and fires can strike at any time. It’s a good idea to plan for what to do in case of a disaster. You can help make your recovery easier by keeping your [...]
WHAT YOU NEED TO KNOW ABOUT REQUIRED HEALTH INSURANCE COVERAGE FOR 2014 Beginning in 2014, the individual shared responsibility provision of the Affordable Care Act (ACA) requires you and each member of your family to have qualifying health insurance (called minimum essential coverage), have an exemption, or pay a shares responsibility penalty with your 2014 [...]
DIVIDING IRAs TAX-FREE IN DIVORCE Generally, the division of property, including cash, between divorcing spouses has no immediate federal income or gift tax consequences. Such transfers are considered tax-free gifts between the spouses. However, the tax-free transfer rule does not apply to transfers of balances in IRAs. If an IRA owner withdraws funds from his [...]
5 Ways You Can Use QuickBooks' Income Tracker The Income Tracker is one of QuickBooks’ more innovative features. If you’re not using it, you should be. One of the reasons that QuickBooks appeals to millions of small businesses is because it offers multiple ways to complete the same tasks, which accommodates different work styles. Say, [...]
IRS TOUGHENS THE ONE -YEAR WAIT BETWEEN IRA ROLLOVERS IRA rollovers are a popular way of obtaining a short-term tax-free loan from an IRA. To receive tax-free treatment, the amount withdrawn from the IRA must be deposited into the same or another IRA no later than 60 days after the taxpayer received the distribution (the [...]
8 QuickBooks Reports That You Should Be Running Regularly QuickBooks provides dozens of customizable report templates. You know when you need some of them, but which are musts? You send invoices because you sold products and/or services. Purchase orders go out when you’re running low on inventory, and there are always bills to pay, [...]