- Minimizing Tax on Social Security Benefits
- Whether your Social Security benefits are taxable (and, if so, the amount that is taxed) depends on a number of issues. The following facts will help you understand the taxability of your Social Security benefits.
- Need Advanced Time-Tracking? Connect QuickBooks Online to An App
- You can track the hours employees work in QuickBooks Online. But if your time-tracking needs are complex enough, you’ll need an integrated app.
- What Are My Chances of Being Audited and How Can I Reduce Them?
- First, don’t panic. Audits are relatively rare, as fewer than 1% of taxpayers grouped by income level will get that dreaded notice on IRS letterhead.
- Does Your Tax Id Number Need To Be Renewed?
- According to the IRS, just about 2 million Individual Taxpayer Identification Numbers (ITINs) are set to expire at the end of 2019. Learn more.
- What You Need to Know about Student Loan Interest
- If you are considering borrowing funds to finance your college education or that of your spouse or children, it is important that you understand that the student loan interest deduction is not limited to the interest paid on government student loans. In fact, virtually any loan interest will qualify as long as the loan proceeds are used solely for qualified higher-education expenses (that is, it is a sole-purpose loan). However, the maximum interest that is deductible each year is $2,500. Thus, in addition to government student loans, home equity lines of credit, personal loans from unrelated parties, and even credit cards can be used if they otherwise qualify. Pension plan loans and loans from related parties do not qualify.
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