Using your 401(k) plan to save this year and next


Have you been contributing enough in 2019 to your employer’s 401(k) plan or Roth 401(k)? Here are the contribution limits for this year and the just-announced limit for 2020.

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Small businesses: Get ready for your 1099-MISC reporting requirements


Has your small business paid independent contractors, vendors or others at least $600 for services during 2019? Here are the reporting requirements you may face.

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You may be ABLE to save for a disabled family member with a tax-advantaged account


Do you want to provide extra money to a disabled family member but you don’t want them to lose eligibility for government benefits to which they’re entitled? Consider a tax-advantaged ABLE account.

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Small businesses: Stay clear of a severe payroll tax penalty


Did you know you could be personally liable for a harsh penalty if payroll taxes withheld from your employees aren’t paid over to the federal government? Learn more about whom the IRS can go after at your business.

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IRA charitable donations are an alternative to taxable required distributions


There’s a tax-smart strategy for high-net-worth individuals over 70-1/2 years old who have IRAs and are charitably minded.

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Thinking about converting from a C corporation to an S corporation?


These are several factors to consider when a business converts from C corporation to S corporation status. Here is what you should understand.

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Accelerate depreciation deductions with a cost segregation study


Cost segregation studies can yield substantial benefits, but they’re not right for every business. Learn more about how this strategy can help accelerate depreciation deductions on the building that houses your operation.

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Use a Coverdell ESA to help pay college, elementary and secondary school costs


Are you looking for ways to save for your child’s or grandchild’s education? Or do you want to save for private elementary and secondary school? A Coverdell Education Savings Account may help.

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Setting up a Health Savings Account for your small business


Health Savings Accounts offer a flexible, tax-advantaged option for providing health care coverage. Employers and employees can benefit. Here’s a look at what an HSA could mean for your business.

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Watch out for tax-related scams


Have you received a text, letter, email or phone call purporting to be from the IRS? Don’t become the victim of a scam. Here’s what you should look out for.

Tags: tax