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Taxes

What Is an Offer in Compromise?

Carrying long-term debt is a challenge, but when the money is owed to the government and you see no way to pay what you owe, it can be psychologically and emotionally debilitating. Some people think they can turn to bankruptcy, but that is not the

Hurricane Ian SBA Disaster Assistance

Article Highlights: Counties that Qualify For Loans Application Deadlines Types of Disaster Loans Interest Rates Hurricane Ian Disaster Fact Sheet Application Assistance The Small Business Administration (SBA) provides disaster assistance for homeowners, renters, nonprofits, and businesses of all sizes affected by Hurricane Ian. Caution: The

ABLE Accounts and Individuals With Disabilities

Article Highlights: Asset limitations when receiving Medicaid or federal Supplemental Security Income Annual Contribution Limits $100,000 Account Limit Qualified Expenses ABLE Account Beneficiary Compensation Saver’s Credit Sec 529 Plan Rollovers Congress created Achieving Better Life Experience (ABLE) accounts in 2014. Prior to the creation of

Personal Finance Tips from Warren Buffett

There are a lot of seasoned investors out there who have made a lot of money on things like the stock market over the years. They've done their research, they've made choices that they believe in, and they have been rewarded handsomely because of it.

Research Credit Potentially Doubled By The Inflation Reduction Act

Article Highlights: Inflation Reduction Act Research Credit Payroll Tax Option Research Credit Qualified Research Qualified Small Business The Inflation Reduction Act that President Biden signed into law back in August, has a lesser-known provision that could benefit many small business startups, allowing them to potentially

Increased Tax Credits for Home Builders

Article Highlights: Contractor Developer Credit Retroactive Extension to 2022 Increased Credit 2023 through 2032 Prevailing Wage Requirements Qualifications Qualifying Residential Projects Non-Refundable Credit Basis Adjustment As part of the Inflation Reduction Act, passed in August 2022, modifying Internal Revenue Code Sec. 45L, contractors will benefit

Tax Relief for Victims of Hurricane Ian

Article Highlights: Federal Disaster Declaration. Filing Dates Extended. Option as When to Declare the Disaster Loss. Records Located Within Disaster Area. Other Disaster Areas. The Federal government provides special tax law provisions to help taxpayers and businesses recover financially from the impact of a disaster,

October 2022 Due Dates

October 2022 Individual Due Dates October 11 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during September, you are required to report them to your employer on IRS Form 4070 no later