Knowledge Center

10 Elections That Can Save Money on Your 2015 Federal Taxes

Are you looking for ways to lower your 2015 personal income tax liability? The filing deadline for most individuals, including self-employed taxpayers, falls on April 18 this year. So, there’s still time to consider making one (or more) of these money-saving elections on your 2015 federal income tax return.

The New-and-Improved Research Credit Is Now Permanent

Does your business spend money on research and development? If so, you may qualify for the research credit and other tax breaks for these activities. A recent law has retroactively extended the research credit for the 2015 tax year and beyond. It also expands the research credit for certain employers starting in 2016. Here are more details on these tax-saving opportunities.

Important Tax Figures for 2016

Every year, the dollar amounts allowed for various federal tax benefits are subject to change based on inflation adjustments and legislation. Here are some important tax figures for 2016, compared with 2015, including the estate tax exemption, Social Security wage base, qualified retirement plan and IRA contribution limits, driving deductions, allowable business write-off amounts and more.

Last-Minute Tax Savings: Hurry Before Time Runs Out

People often procrastinate when it comes to tax planning. Fortunately, there are still several easy moves individuals can make in the last days of the year to lower their federal tax liability for 2015 and beyond. But act fast. When the clock strikes midnight on January 1, there will be precious little you can do about the current tax year.

What You Need to Know Before Making Year-End Charitable Contributions

Did you know that charities receive a large chunk of their annual donations in the last few weeks of December? In addition to feeling the spirit of the holiday season, many people use charitable donations as a last-minute tax planning strategy. Here are some helpful tips to ensure you can deduct contributions to your favorite charity.

2015 Year-End Tax Planning Tips for Small Businesses

If you’re frustrated with our current tax system, you’re not alone. Five out of today’s Top 10 small business concerns relate to state and federal tax issues. Tax reform will undoubtedly be a hot button during the 2016 presidential race. Meanwhile, business owners can take some of the “bite” out of their tax liabilities by using these strategies before year end.

Cybersecurity Awareness Month: Protect Valuable and Vulnerable Assets

Our world is more interconnected than ever before. The Internet has become an integral part of everyone’s business and personal lives. But along with Web-based opportunities come risks of breaches and associated losses. Here are some sobering statistics from recent studies that underscore the importance of protecting your business against data breaches.

Seasonal IRS Announcements: Stop To Reflect on Taxes

Fall is the time to start your year-end planning for the current tax year — and to tie up loose ends from the previous tax year. Here are some recent reminders from the IRS about filing extensions, amending returns and complying with the Affordable Care Act, as well as related opportunities for saving federal income taxes for individuals and businesses.

A Recipe for Deducting Meals, Parties and Gifts Provided to Employees

As the holidays approach, food is an easy way for employers to thank employees for another year of service or to entice them to stay late to meet year-end deadlines. But many companies are unsure about the IRS rules for deducting employer-provided meals, parties and gifts. In many cases, businesses may be able to deduct 100% of these costs. Here’s what you should know.

Are Rental Properties the Next Big Investment Opportunity?

A recent study finds that a growing number of Americans are renting their homes instead of buying them. And those who do buy are likely to wait longer to own homes than previous generations. These trends are good news for investors in residential rental properties. Here are the hottest rental markets to invest in — where property values are still affordable and rents are expected to rise.

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