Learning Center : Articles

Can You Deduct Employee Expenses?

Article Highlights: Condition of Employment Employer Reimbursements Miscellaneous Itemized Deductions Alternative Minimum Tax Home Office Computer Uniforms and Special Work Clothes Education Impairment-Related Work Expenses Job-Search Expenses If you are an employee, you may be curious about which expenses relating [...Read More]

Published: April 5th, 2016

Minimizing Tax on Social Security Benefits

Article Highlights: Income as a Factor Filing Status as a Factor 85% Maximum Taxable Base Amounts Deferring Income Maximizing IRA Distributions Whether your Social Security benefits are taxable (and, if so, how much of them are) depends on a number [...Read More]

Published: April 5th, 2016

Deducting Startup Costs for Your New Business at Tax Time

Before you earn your first dollar, before you are even open for business, your startup can incur considerable expenses. The money you spend opening your business can often be deducted; the IRS allows you to deduct many of these one-time [...Read More]

Published: April 5th, 2016

Penalty for Not Having Health Insurance Surprises Many

Article Highlights: Penalty Being Phased in Over Three Years Larger of Two Amounts Flat Dollar Amount Percentage-of-Income Amount Penalty Applied by Month Many taxpayers are surprised by the size of the penalty being imposed for not having health insurance in [...Read More]

Published: March 15th, 2016

Don’t Have a Retirement Plan? Maybe a SEP Is the Answer.

Article Highlights: What Is a SEP? Contribution Limits Employee Coverage Requirements How to Establish a SEP SEP Distributions If you are like many small business owners, you probably find the year-end period to be a very busy time. You can’t [...Read More]

Published: March 15th, 2016