- 2019 Standard Mileage Rates Announced
- The Internal Revenue Service (IRS) computes standard mileage rates for business, medical and moving each year, based on a number of factors, to determine the standard mileage rates for the following year.
- The 1099-MISC Filing Date Is Just Around the Corner - Are You Ready?
- If you engage the services of an individual (independent contractor) in your business, other than one who meets the definition of an employee, and you pay him or her $600 or more for the calendar year, then you are required to issue that person a Form 1099-MISC to avoid penalties and the prospect of losing the deduction for his or her labor and expenses in an audit. Payments to independent contractors are referred to as non-employee compensation (NEC).
- Last-Minute Tax Strategies
- Just a reminder that the last day you may make a tax-deductible purchase, pay a tax-deductible expense, take advantage of tax credits, or make tax-deductible charitable contributions for 2018 is Dec. 31.
- Want to Save Taxes on a Roth IRA Conversion?
- Have you thought about any last-minute actions for this year’s taxes? You might convert some or all of your traditional IRAs into a Roth IRA.
- Year-end Tax Planning Strategy - Annual Gifts
- Though the gifts are not tax-deductible, for the tax year 2018, you are able to give $15,000 each to as many people as you want, without having to pay any gift tax.
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