Tax News

The IRS recently issued the 2021 annual inflation adjustments for many tax provisions,  These adjusted amounts will be used to prepare tax year 2021 returns in […]

Second Quarter Estimates   Most of you know by now that the Treasury extended the tax filing and payment deadline to July 15, 2020. The IRS subsequently made clear […]

The Internal Revenue Service announced new, higher contribution limits for health savings accounts for 2020. HSAs are the best way to save courtesy of Uncle Sam, […]

  The Internal Revenue Service is reminding small businesses that recent tax reform legislation lowered the backup withholding tax rate to 24 percent and the withholding […]

If you’re a college student (or the parent of one), you should know about some key tax breaks that are available to you when you do your […]

The IRS issued the calendar year 2019 inflation-adjusted figures for the annual contribution limits for health savings accounts (HSAs) and the minimum deductible amounts and maximum […]

The S.C. Department of Motor Vehicles will begin accepting documents from South Carolinians seeking a REAL ID-compliant driver’s license or identification card. The agency stressed changing […]

Many of you have heard that President Donald Trump has proposed changes to the tax laws, some of which includes lowering the rates paid by businesses. […]

For those of you who may have to fork over soem additional funds to Uncle Sam, there are several options available for making payments. If you […]

A final Labor Department rule expanding overtime eligibility probably won’t come until late next year, Solicitor of Labor Patricia Smith revealed at a panel discussion. The […]

Many taxpayers believe they can gift money or property and there will be no tax issues associated with doing so – after all, it’s a gift. […]

Whether you think of our connected world as a benefit or as a time waster, there’s no escaping the complex red tape associated with providing access […]

For many of you, hiring the kids to work in the family business might not sound all that appealing initially, (teens, especially your own can be […]

It’s a good idea for you to get a power of attorney, a health care proxy and a will for children who are heading off to […]

The following is a summary of important tax developments that have occurred in the past three months that may affect you, your family, your investments, and […]

Mistakes in enrolling for Medicare can be costly. If you fail to pay for Medicare Part B on time, you will wind up paying the late […]

by Kelly Erb Many of you may know that the BBC has temporarily dropped “Top Gear” from the line-up after presenter Jeremy Clarkson had, according to […]

Late last week, the National Football League (NFL) announced that it would voluntarily give up its tax exempt status. Most folks are surprised to find out […]

The Internal Revenue Service (IRS) is ramping up efforts to thwart identity theft. As part of those efforts, IRS is reminding taxpayers who receive requests from […]

It is a statistical fact: Self-employed individuals are much more likely to get audited than regular employees. So we are sharing what we consider to be […]

Now that you have all of this great information about tax credits, deductions and other tax breaks, (since you’ve been reading our newsletter all year) you’re […]

For taxpayers who owe taxes with their tax returns, the IRS has provided ten tips about how to pay: Taxpayers should never send cash. If taxpayers […]

The Internal Revenue Service has released the 2015 inflation-adjusted deduction limitations for annual contributions to a health savings account.

Here are some important reminders to help protect you and your business from accounting fraud. These seem easy (and easy to ignore) but implementing these practices […]