Nothing can be more stressful than finding out you owe the IRS when calculating your taxes when you already are struggling. The issue of course, is even though you can’t pay the tax, you still must file your tax return by the deadline. This video reviews some options you can employ if you are caught in this situation.Continue reading →
On March 6, the House Republicans unveiled their draft legislation that would repeal and replace the Affordable Care Act (ACA). In general, the GOP’s plan would continue the ACA’s premium tax credit through 2019 and then replace it in 2020 with a new credit for individuals without government insurance and those who are not offered insurance by their employer. However, most of the ACA’s insurance mandates and penalties would be repealed after 2015. Other provisions will be overturned periodically through 2019.
Additional details are provided in our blog, but keep in mind the legislation is draft legislation and is subject to changes before coming up for vote.Continue reading →
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Many people dream of starting a small business. This is a dream that can become a reality, or—as happens to about 33% of prospective business owners, according to the Small Business Administration – it can result in dismal failure within two years. There’s no magic-bullet solution to ensure a successful business, but if you don’t want to be in that 33%, you should be aware of the common reasons that small businesses fail.
With tax law changes on the horizon, it may be time for you to consider year-end tax planning. One such opportunity, is to move up any charitable deductions planned for 2017 into the 2016 tax year. Watch the video below or call us to see if this strategy is right for you.