- Minimizing Tax on Social Security Benefits
- Whether your Social Security benefits are taxable (and, if so, how much of them are) depends on a number of issues. The following facts will help you understand the taxability of your Social Security benefits.
- Employers – Important Due Date Approaching
- Beginning in 2015, Applicable Large Employers are required to file a new informational return – 1095-C, Employer-Provided Health Insurance Offer and Coverage. One of these informational returns must be provided to each full-time employee and filed with the IRS, along with a Form 1094-C transmittal form, by the due dates listed below.
- Penalty for Not Having Health Insurance Surprises Many
- Many taxpayers are surprised by the size of the penalty being imposed for not having health insurance in 2015. This may be a wake-up call for many who didn't realize the penalty is being phased in over a three-year period between 2014 and 2016, and the increases are substantial each year.
- Don't Have a Retirement Plan? Maybe a SEP Is the Answer.
- If you are like many small business owners, you probably find the year-end period to be a very busy time. You can't close your books and determine your business's profit until after the close of the year, and if this has been a good year, you may want to establish a retirement plan and make a contribution for 2015.
- Automatic Tax Filing Extensions Available
- A taxpayer who needs more time to complete his or her 2015 individual tax return can request an automatic six-month extension. The extension is obtained by filing IRS Form 4868 on or before the April 18, 2016 deadline.
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