Taxes
The Kiddie Tax: Is It Worth It To File A Separate Return?
Under the “kiddie tax,” if unearned income of a dependent child who is under age 19 or a full-time student under age 24 exceeds an annual threshold, the excess is taxed at the top rate of the child’s parents. The threshold on 2014 returns is $2,000.
Are Your Clients ACA Ready?
Now that the Affordable Care Act is completely underway, some business owners have found that they are not prepared to ensure compliance, particularly as new changes go into effect and they prepare to file their 2014 taxes.
Top 10 IRS Identity Theft Cases of 2014
Continuing its enforcement push against refund fraud and identity theft, the Internal Revenue Service today announced the Top Ten Identity Theft Prosecutions for Fiscal Year 2014 (FY14). The ongoing efforts to bring identity thieves to justice ...
Regulations and IT Issues Add To Costs for Businesses
Many businesses are wasting valuable resources by maintaining disparate IT systems or using manual processes to remain compliant with laws and regulations governing their workforces, according to a new study released by CFO Research and ADP.
5 Tips to Avoid ID Theft and Refund Fraud During Tax Season
Your Social Security Number could be the ticket for a fraudster seeking to claim a false tax refund or worse, according to the Internal Revenue Service (IRS). A fraud expert offers some tips for preventing such crime – or at least catching it early.
Home Office Deductions: The Simplified Method May Cost Taxpayers Money
The midterm elections are long over but some of the most important “votes” for 2014 aren’t in yet. Specifically, certain elections on the tax returns of your clients can either make or break their year. And, if you point them in the right direction ...
State Deadlines Near for Forms W-2 and 1099
The deadlines for businesses to send forms W-2 and 1099 copies to individual states are quickly approaching, with the majority of states having a March 2 deadline date. The various state rules and regulations can be daunting, as state filing varies ...
70% of New York Businesses Optimistic For 2015 Growth
Not only are New York City small business owners expecting to see revenue and sales growth, but 70 percent of survey respondents said they are feeling optimistic or excited about their business.