IRS Extends Deadline


The IRS has extended the federal income tax filing due date

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Individuals get coronavirus (COVID-19) tax and other relief


The coronavirus (COVID-19) pandemic has changed life across the country. The IRS and Congress have responded with some tax and financial relief. Here’s a brief rundown of what’s been provided so far.

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Why you should keep life insurance out of your estate


You bought life insurance to protect your family or other beneficiaries. Here’s how to avoid having the benefits be subject to federal estate tax.

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Small business owners still have time to set up a SEP plan for last year


Saving money for retirement is important to a business owner’s financial security. If you haven’t set up a retirement plan for yourself and your employees for 2019, you may still be able to do so, and reduce your tax liability for last year.

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The 2019 gift tax return deadline is coming up


April 15 isn’t only the income tax return deadline. It’s also the gift tax return deadline for people who made large gifts last year. Find out if you’re required to file a 2019 gift tax return this April (or if you may want to file one anyway).

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Determine a reasonable salary for a corporate business owner


When it comes to executive compensation, C corporation owners need to keep it “reasonable.” Here’s why.

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Home is where the tax breaks might be


Buying a home and want to know how much of a tax break you’ll get for paying mortgage interest? Here are the rules.

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Work Opportunity Tax Credit extended through 2020


The Work Opportunity Tax credit was set to expire on Dec. 31, 2019. But a law passed late last year extends it through Dec. 31, 2020. Here’s how employers can benefit.

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Tax credits may help with the high cost of raising children


The child tax credit is more valuable than it was a few years ago. In addition, more taxpayers are able to benefit from it. Here are the rules.

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Do you run your business from home? You might be eligible for home office deductions


Do you operate your business from home or perform certain functions at home that are related to your business? You might be able to claim home office deductions on your tax return.

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