New Year’s Resolutions – waste of time or worth the effort?

As we head into the second half of January, how is it going with your New Year’s resolutions so far? Are you meeting all your lofty intentions or have a few of them already fallen by the wayside? If it’s the latter, you’re not alone. We’re a nation geared toward self-improvement, but changing habits is hard work & resolutions are…

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New Year’s Resolutions. Do You or Don’t You?

OK, it’s New Year’s resolution time…and I have to admit I’ve never made any. It always seemed to me that an effort to make all those well intentioned changes at once would be doomed to failure. And statistically that seems to be true for most people. Guess I’m more into doing things on a gradual basis…more along the lines of…

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Get a Tax Deduction for Unreimbursed Employee Business Expenses

Paying for business expenses or business related auto expenses out of your own pocket? If your company does not or cannot reimburse the expenses, you might be able to use them as a personal tax deduction. How to Claim Business Expenses Unreimbursed business expenses can be claimed on Schedule A (Itemized Deductions) of your 1040 tax return. If you don’t…

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paper calendar pages flipping

‘Tis the Season to Give – 6 Tips on Deducting Charitable Donations

As we move into the end of 2017, many folks are looking at making their final charitable donations for the year. Here are a few tax related tips: 1. The IRS requires written documentation for donations of ANY amount – keep your credit card statements, check copies or electronic transfer confirmations. The documentation should show the name of the charity,…

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Is Your Business at Risk from EMV Chip “Smart” Credit Cards?

If your business isn’t using a chip reader for credit card sales, you may be opening your business up to serious financial risk. The EMV chip technology for credit cards shifts financial liability for fraudulent use to the retailer from the card issuer. All credit card issuers are replacing existing credit cards with new ones using EMV chip technology. What…

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Accept Credit Cards? Learn How EMV will Impact your Business.

EMV is a credit card technology upgrade that helps to prevent fraudulent transactions. Commonly known as Smart Cards, they reduce the risk of credit card fraud for consumers and businesses. While that’s good news for both credit card holders and credit card issuers, it brings some new risks for businesses that accept credit cards. For business owners, this means it…

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photo of student loan application

The Great Student Loan Lie

While we’re talking about the many problems caused by student loan debt and how to address it, I think we need to start at the beginning and address a basic falsehood. Student Loans are not financial aid. They are debt, plain and simple. Let’s Play “Let’s Pretend” Colleges, banks and the government may all collude to dress loans up as…

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The IRS Goes Mobile

You know it’s a mobile world when even the IRS has an APP. Feeling like you want to be closer to the IRS? If you still feel the same way after you lie down for a while, IRS2GO is for you. Seriously, though, IRS2Go is a free app for Android & iPhone that is available through iTunes & Google Play…

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Owe the IRS Money? Make Your Payment Directly on the IRS Website.

None of us like to find out we’ve come up short on our withholding or estimated taxes. That news delivered by your accountant or tax software can really ruin your day. But if you have to send money to the IRS, you can pay up easily on the IRS website using Direct Pay. And if you use the Direct Pay…

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Can’t get your taxes together by April 15th? File for an extension.

You can apply for an automatic extension for filing your personal federal income taxes (Form 1040) by filling out Form 4868. It’s simple & the 6 month extension is automatic. Here’s the big caveat, though. It is only an extension of time to file your tax return, NOT an extension of time to pay your taxes.  This is an important…

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