April 15 Besides being the last day to file (or extend) you 2018 personal return and pay any tax that’s due, 2019 first quarter estimated tax payments for individuals, trusts and calendar-year corporations are due today. Also due are 2018 returns for trusts and calendar-year estates and C corporations, FinCEN Form 114 (“Report of Foreign [...]
Most individual don’t regard themselves as businesses, trying to turn a profit and beat the competition. But, occasionally, it may help to look at your financial situation this way to determine where you might cut expenses and boost cash flow. Here are some tips. LAY OUT YOUR FINANCIALS Where an executive might teach for financial [...]
It may sound too good to be true, but there may be valuable unclaimed property out there with your name on it. The term generally refers to financial assets being held for owners who haven’t been found. Just a few examples, include uncashed dividend and payroll checks; unclaimed tax refunds; and insurance payments, refunds or [...]
Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction – as long as the so-called repairs weren’t actually “improvements.” The costs of incidental repairs and maintenance can be immediately expensed and deducted on the current year’s income tax return. But costs incurred to improve tangible [...]
Whether you’re planning to claim charitable deductions on your 2018 return or make donations for 2019, be sure you know how much you’re allowed to deduct. Your deduction depends on more than just the actual amount you donate. WHAT YOU GIVE Among the biggest factors affecting your deduction is what you give. For example: Cash [...]
As the 2018 tax-filing season heats up, investors have much to consider. Whether you structured your portfolio to emphasize income over growth – or vice versa, or perhaps a balance of the two – will have a substantial impact on your tax liability. Let’s take a look at a couple of the most significant “big [...]