2016 Last Chance for Energy Tax Credits
May14

2016 Last Chance for Energy Tax Credits

There are two energy tax credits that are due to expire at the end of 2016: the Residential Energy Efficiency Property Credit and the Nonbusiness Energy Property Credit.  Taking advantage of these tax credits can help to offset some of the installation cost of certain energy-efficient home improvements. The IRS offers the following facts for homeowners who are looking to take advantage of these credits. Non-Business Energy Property...

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Need a Premium Tax Credit Checkup?
May10

Need a Premium Tax Credit Checkup?

Just because the 2015 tax filing season is over doesn’t mean you should relax and not plan for next year’s tax return.  You should perform a Premium Tax Credit checkup to avoid large differences between the advance credit payments and the amount of the premium tax credit you are allowed when you file your tax return next year. If you ended up owing money due to excess advance payments, you should consider adjusting the...

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5 Tax Tips for Starting a Business
May06

5 Tax Tips for Starting a Business

When you start a business, a key to your success is to know your tax obligations. You may not only need to know about income tax rules, but also about payroll tax rules. The IRS offers these five tax tips that will help you get your business off to a good start. Business Structure.  An early choice you need to make is to decide on the type of structure for your business. The most common types are sole proprietor, partnership and...

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7 Tips Now That Tax Season is Over
May03

7 Tips Now That Tax Season is Over

For most taxpayers, tax season is over for another year and you may be tempted to forget about your taxes once you’ve filed but some tax planning done now may benefit you later. According to the IRS, right now is a good time to set up a system so you can keep your tax records safe and easy to find.  Here are seven tips courtesy of the IRS that will give you a leg up on next year’s taxes: Take action when life changes occur.  Some life...

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