Estimated tax payments: Who owes them and when is the next one due?


Self-employed taxpayers generally must make quarterly estimated tax payments. But even if you’re not self-employed, you may have to make them to avoid a penalty if you don’t have enough federal tax withheld. Here are the rules.

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Is your business required to report employee health coverage?


Form 1095-C is filed with the IRS and provided to employees of “applicable large employers” who are full-time employees. Which employers are affected and what must they do?

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Is your withholding adequate? Here’s how to check


A big tax bill (or a large refund) may mean you don’t have the proper amount of tax withheld from your paycheck. Here’s how to make sure that doesn’t happen next year.

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How to treat business website costs for tax purposes


How do you handle the costs involved in developing your business website for tax purposes? Here are the general rules.

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How to avoid the early withdrawal tax penalty on IRA distributions


If you want to take money out of your traditional IRA before age 59½, you’ll generally have to pay an early withdrawal penalty on top of the regular income tax you’ll owe. But there are exceptions to avoid the penalty.

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Three tax breaks for small businesses


You don’t have to be a large business to benefit from tax breaks. Here are 3 ways that eligible small businesses can save on taxes.

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The kiddie tax: Does it affect your family?


Do your children have investment income? They may owe “kiddie tax.” Here are the basic rules.

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Important considerations when engaging in a like-kind exchange


Interested in a “like-kind” exchange of real property? Here are the basic rules.

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Interested in an EV? How to qualify for a powerful tax credit


Many people are thinking about buying electric vehicles because of their advanced technology, high gas prices and the fact there are more models available today. Along with factors like acceleration and the battery range, check out the federal tax break that may be available.

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The tax obligations if your business closes its doors


When a business shuts down, there are a number of tax responsibilities that must be met. Unfortunately, because of the pandemic and the economy, many businesses are facing this reality. Here are the basic rules.

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