Do you want to reduce your PA personal income taxes? As a PA resident, your contributions to a 529 account may be tax deductible from your PA state income tax. Notice the use of the word “may” … [Read more...] about PA 529 Plan Contributions – Know the Rules
Penalty for Failure to Review Your Form 1040
The IRS requires that as part of a professionally prepared tax return that the taxpayer review his/her return before it is e-filed. This review process is important because the taxpayer is signing … [Read more...] about Penalty for Failure to Review Your Form 1040
Need To Make an IRS Tax Payment
Since today is the due date for filing 2016 Form 1040, some taxpayers are going to find themselves worrying about filing their returns and paying the balance owed on 2016 taxes. Let’s attempt to … [Read more...] about Need To Make an IRS Tax Payment
Missing a W2 . . . Try These Helpful Hints
Most taxpayers got their W-2 Forms by the end of January. Form W-2, Wage and Tax Statement, shows the income and taxes withheld from an employee’s pay for the year. Taxpayers need it to file an … [Read more...] about Missing a W2 . . . Try These Helpful Hints
Husband and Wife LLC?
We recently spoke to a new business owner (not a client) and he told us that he had formed a single member LLC (SMLLC) that was owned by him and his spouse. We informed him that a “single” member LLC … [Read more...] about Husband and Wife LLC?
Small Business Sponsored Health Reimbursement Accounts Now Allowed
Prior to tax years beginning January 1, 2017, employers who reimbursed employees for the cost of premiums for individual and family health coverage were subject to the Patient Protection and … [Read more...] about Small Business Sponsored Health Reimbursement Accounts Now Allowed
