The joys of homeownership are many: Your own house is a place to make sweet memories, build a financial nest egg, and whittle down your tax bill. Wait, what? Yep, it’s true: Your home can save you a bundle on April 15.
April 15 is a date burned into our brains: the drop-dead deadline to file our taxes or at least pay what we figure we owe for last year even if we get an extension to finish the paperwork later.
But in 2017, the official tax day is actually three days later, April 18. Here’s why:
The Internal Revenue Service is putting out the word on how to beat the rush right after Presidents Day —one of the agency’s busiest weeks of the year.
The day following Presidents Day is typically the busiest day of the year for IRS telephone assistors, and the agency has extended call center hours over the long weekend.
The U.S. Internal Revenue Service will no longer require tax filers to indicate whether they had health coverage or paid a penalty set under Obamacare, dealing a blow to a pillar of the healthcare law, the website Reason.com reported.
To file as an S corporation, you must first file as a corporation. After you are considered a corporation, all shareholders must sign and file Form 2553 to elect your corporation to become an S corporation. Once your business is registered, you must obtain business licenses and permits. Regulations vary by industry, state and locality.
American workers may be missing out on a valuable tax credit this year. The Saver’s Credit, also referred to as the Retirement Savings Contributions Credit by the Internal Revenue Service, is available to eligible taxpayers who are saving for retirement, yet just one in three American workers are aware of the credit, according to the 17th Annual Transamerica Retirement Survey.
Few people enjoy tax planning. But everyone goes through major life changes, and many of them have substantial tax consequences. Knowing about them and planning your taxes around them can help you avoid unpleasant surprises and sometimes can produce huge savings on your tax bill. Here are seven key situations where it pays to do some basic tax planning.
Writing checks against a bank account with insufficient funds to cover them, hoping that the bank will receive deposits before the checks arrive for clearance.
The ride-hailing app Uber accounts for 52 percent of expenses in the ground transportation category, according to a new report, and is now the most expensed vendor overall across categories.