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The Tax & Business Letter is online at www.TaxBlog.MyTexasCPA.com

 

11/12/15 19:00 from Tax & Business Letter
Check unclaimed property lists for missing money Discovering unexpected money is always a pleasant event and generally even more so this time of year. You don't need to dig between the couch cushions to find it. According to the National... read more >
09/12/15 19:00 from Tax & Business Letter
Did you pay domestic employees in 2015? Nannies, housekeepers, caregivers – the people who make your home life easier – are your employees, and you're required to comply with income and payroll tax rules. For 2015, you'll need to withhol... read more >
07/12/15 19:00 from Tax & Business Letter
Be aware of 2016 payroll rates The Social Security Administration announced the 2016 wage base for computing the amount of payroll tax will be $118,500, the same as 2015. The wage base is the maximum amount of wages subject to the... read more >
03/12/15 19:00 from Tax & Business Letter
Will your employees stay after the holidays? A survey of employees and human resources professionals showed that what employees want and what the professionals think they want may not be the same. According to the survey, one in three em... read more >
01/12/15 19:00 from Tax & Business Letter
Plan for changes to social security options A recent law eliminated two social security "loopholes," but you may still be able to benefit in some circumstances. The option to apply for social security when you reach full retirement... read more >
30/11/15 19:00 from Tax & Business Letter
Take precautions to avoid gift card fraud Gift cards are a convenient way to give your friends and loved ones "just the right thing" at holiday time. They also give thieves an opportunity to make off with your money, according to a publi... read more >
26/11/15 19:00 from Tax & Business Letter
Need money to pay bills? Raiding your 401(k) is not a good idea When you're short of cash, raiding your 401(k) plan may seem like a good idea. Here are two reasons why it isn't. Penalties and taxes. If you're not at least 59½ year... read more >
24/11/15 19:00 from Tax & Business Letter
Seek liquidity for short-term investments The stock market may not be the right place for all of your money at all times. Here are two situations when cash accounts can be a better solution. Situation #1. Generally, the stock market is n... read more >
19/11/15 19:00 from Tax & Business Letter
Good communication keeps your customers happy As a business owner, you know how much effort goes into attracting new customers. So once you've found a new customer, you want to keep that customer as long as possible. Good communication c... read more >
17/11/15 19:00 from Tax & Business Letter
Are you 65 or older? Include these tax breaks in year-end planning Celebrate your 65th birthday with federal income tax benefits. Here are some of the breaks available once you reach age 65. Higher standard deduction. Your standard deduc... read more >
13/11/15 19:00 from Tax & Business Letter
Some tax benefits will increase in 2016 Each year, the IRS announces inflation adjustments for more than 50 tax provisions. Knowing these numbers can help with your year-end tax planning. Changes for 2016 (for the tax returns you'... read more >
11/11/15 19:00 from Tax & Business Letter
Make use of your 2015 gift tax exclusion This year you can give up to $14,000 to as many individuals as you want without any gift tax liability. If you're married and your spouse joins in the gift, you can, as a couple, elect to give $28... read more >
09/11/15 19:00 from Tax & Business Letter
Should you increase your withholding? Will the federal income tax withheld from your wages be enough to meet your 2015 federal income tax liability? If not, you can choose to make estimated tax payments. However, you should be aware that... read more >
05/11/15 19:00 from Tax & Business Letter
Tax planning is good for corporations too If you own a calendar-year corporation, you can benefit from planning moves you make before December 31. For example, corporations can accelerate or defer income or deductions to stay with... read more >
03/11/15 19:00 from Tax & Business Letter
Be aware of credit card "liability shift" Does your business accept credit cards? You may already know of the recent update to a new style of cards embedded with microchips. This new technology, also known as EMV (for Europay, MasterCard... read more >
01/11/15 19:00 from Tax & Business Letter
2016 health care enrollment begins November 1 The health insurance Marketplace ( www.healthcare.gov ) "open enrollment period" began November 1 for 2016 individual health insurance coverage. Open enrollment is the annual period of time d... read more >
30/10/15 18:00 from Tax & Business Letter
Turn your part-time employees into winners. Part-time employees play a valuable role in a small business. They help deal with fluctuations in workload and can job-share with full-timers. In addition, because part-timers often look for fl... read more >
28/10/15 18:00 from Tax & Business Letter
Break even analysis helps with business choices Break even analysis is an important and useful tool in business. Whether you're starting a new business, expanding current operations, contemplating an acquisition, downsizing, ... read more >
26/10/15 18:00 from Tax & Business Letter
Protect yourself from ID theft with credit report check Even if you're covered by a credit monitoring service, you may want to keep an eye on your credit report – and you can still do that for free at www.annualcreditreport.com. That's t... read more >
22/10/15 18:00 from Tax & Business Letter
Decide when to start social security benefits Whether you should take social security retirement benefits at the earliest possible date or defer benefits until reaching normal retirement age (or even age 70), depends on several factors. ... read more >