If you’re a business owner, you might be wondering if using alternative energy technologies in your company can help you manage energy costs and improve your bottom line. If this sounds interesting, you should know there’s also a valuable federal income tax benefit (the business energy credit) that applies to the acquisition of many types [...]
July 15 If the monthly deposit rule applies, employers must deposit the tax for payments in June for Social Security, Medicare, withheld income tax and nonpayroll withholding. August 1 Employers must file Form 941 for the second quarter (August 10 if all taxes are deposited in full and on time). Also, employers must deposit FUTA [...]
In any season, scam artists are on the lookout for ways to steal financial data and money from vulnerable people. Such fraudulent activities often target older adults. Whether you’re in this age bracket or worry about senior parents and other relatives, here are seven ways to help prevent elder financial abuse and fraud: Keep both [...]
Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home – perhaps so that spouse can take care of children or elderly parents. In general, an IRA contribution is allowed only if a taxpayer earns compensation. However, there’s an exception involving a [...]
Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. The latest data available from the U.S. Census Bureau shows that for the period of June 2020 through June 2021, business applications were up 18.6%. The Bureau measures this by the number of businesses applying for [...]
Do you have significant investment-related expenses, including payment for financial service subscriptions, home office maintenance and clerical support? Under current tax law – specifically the 2017 Tax Cuts and Jobs Act – these expenses aren’t deductible through 2025 if they’re considered investment expenses to produce income. But they are deductible if they’re considered trade or [...]