- Want To Make An IRA Contribution For Last Year? You Still Have Time.
- If you wish to make an IRA contribution for 2016, you still have time. Contributions can be made up to the unextended due date of your tax return, which for 2016 is April 18, 2017.
- Accounting Terms Crossword Puzzle Challenge
- You think you know your tax and accounting terms and are a fast puzzle solver? If yes, please take our challenge.
- Are you age 70 and a half or over and taking required minimum distributions (RMDs) from your IRA account?
- If you were 70.5 or older last year, you needed to take required minimum distributions (RMDs). Learn more to avoid penalties of up to 50%.
- IRS Clamps Down on Tax Credits
- In an effort to rein in tax fraud, which is costing the government billions of tax dollars, some new laws that take effect in 2016 will clamp down on individuals who have fraudulently claimed the American Opportunity Tax Credit (AOTC), the Child Tax Credit (CTC), or the Earned Income Tax Credit (EITC).
- Don't Overlook Standard Mileage Rate Add-Ons
- Business owners often use the standard mileage rate instead of actual expenses when taking a deduction for the business use of their vehicle. The standard mileage rate is determined annually by the IRS by using data from a study conducted by an independent contractor of vehicle operating expenses based on the prior year's costs. The operating expenses include:
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