Tip Income; How It Affects Your Taxes
If you get income from tips, you should know some things about tips and taxes. Here are a few tips from the IRS to help you file and report your tip income correctly:
The Small Business Health Care Tax Credit: 7 Tax Tips for Employers
Do you own a small business or run a tax-exempt organization with fewer than 25 full-time equivalent employees? If you do, the Small Business Health Care Tax Credit can help you provide insurance to your employees. You may be able to save on your taxes if you paid for at least half of their health…
Tax Tips to Help You Determine if your Gift is Taxable
If you gave money or property to someone as a gift, you may wonder about the federal gift tax. Many gifts are not subject to the gift tax. Here are seven tax tips for gifts and the gift tax.
Determine if the Net Investment Income Tax Applies to You
If you have income from investments, you may be subject to the Net Investment Income Tax. You may owe this tax if you receive investment income and your income for the year is more than certain limits. Here are some key tips you should know about this tax:
Scam Calls and Emails Using IRS as Bait Persist
Scams using the IRS as a lure continue. They take many different forms. The most common scams are phone calls and emails from thieves who pretend to be from the IRS. They use the IRS name, logo or a fake website to try to steal your money. They may try to steal your identity too.
Things You Should Know about Filing Late and Paying Penalties
April 18 was this year’s deadline for most people to file their federal tax return and pay any tax they owe. If you are due a refund there is no penalty if you file a late tax return. If you owe tax, and you failed to file and pay on time, you will most likely…
5 Tax Tips on Estimated Tax Payments
You usually will have taxes withheld from your pay if you are an employee. However, if you don’t have taxes withheld, or you don’t have enough tax withheld, you may need to make estimated tax payments. If you are self-employed you normally have to pay your taxes this way. Here are five tips about making…
Can’t Pay Taxes On Time? Here Are Five Tips.
The IRS urges you to file on time even if you can’t pay what you owe. This saves you from potentially paying a penalty for a late filed return. Here is what to do if you can’t pay all your taxes by the due date.
Need More Time to File Your Taxes?
The April 18 tax deadline is coming up. If you need more time to file your taxes, you can get an automatic six-month extension from the IRS. Here are five things to know about filing an extension:
What You Should Know about Children with Investment Income
Special tax rules may apply to some children who receive investment income. The rules may affect the amount of tax and how to report the income. Here are five important points to keep in mind if your child has investment income:
