The IRS announced inflation-adjusted amounts that individuals and families can contribute to Health Savings Accounts (HSAs) in 2018. The tax agency also announced the minimum required deductibles and out-of-pocket maximums for high-deductible health plans.
As a nominee, Randy G. Brammer, CPA attended the Phoenix Business Journal’s 40 Under 40 Class of 2017 kick-off party in Scottsdale. Every year, the Phoenix Business Journal honors 40 individuals under the age of 40 that contribute to their company and community.
Effective July 1, 2017, Proposition 206 entitles employees to accrue earned paid sick time. Arizona voters approved Proposition 206, the Fair Wages and Healthy Families Act, which established a new state minimum wage and entitled employees to accrue earned paid sick time.
This article is the ninth of ten tips for reducing taxes during the summer. Has your child recently graduated from college? This is probably the last year you can claim a dependency exemption.
This article is the seventh of ten tips for reducing taxes during the summer. By renting out your primary residence, you may not need to comply with the usual tax rules. Read further for details.
This article is the sixth of ten tips for reducing taxes during the summer. Federal tax law allows deductible expenses relating to renting out a vacation home to offset rental income.
This article is the fourth of ten tips for reducing taxes during the summer. Working parents should consider sending their young children to day camp while school is out.
For summer tax planning, this article is the third of ten tips for reducing taxes. Take this time to donate items to charity that are no longer being used.
For summer tax planning, this article is the second of ten tips for reducing taxes. Generally, costs for company picnics, barbecues, or similar events can be deducted.
For summer tax planning, this article is the first of ten tips for reducing taxes. When entertaining clients, you may be eligible to write off 50% of the cost of business meals and entertainment.
Considering moving to another state? Moving could lower your state tax bill; however, you need to establish the new state is your place of legal residence, also known as your domicile, for state tax purposes. Otherwise, the old state could come after you for taxes after moving. In the worst-case scenario, your new state could expect to get paid, too.
Homeowners that itemize “qualified residence” interest should be aware of the IRS rules and new Form 1098 reporting requirements. The allowed deduction may not match what the bank reports on Form 1098 and the IRS can target this deduction in tax return audits.