Estate Planning: Plan for the Fate of Your Digital Assets

Estate planning - digital assets

Couple planning digital assets
An important step in estate planning is creating an inventory of your assets. Your executor – the person you designate in your will to carry out your last wishes – uses the inventory to make sure all of your property passes to your heirs.

That includes your digital assets. Documenting these along with more traditional effects can help ensure your final wishes are honored and your estate is administered correctly. Here’s what to keep in mind as you compile a list of your digital assets.
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August Tax News: IRS Grants, Increase Your Paycheck & Avoiding Penalties

August 2016 tax news

August-2016-tax-news

IRS Grants More Time to Benefit From This Tax Credit

When you hire workers from specified groups that typically experience high unemployment, you may qualify for a tax break known as the Work Opportunity Tax Credit. You typically have 28 days after the worker’s first day to complete paperwork for this federal income tax credit.
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How to Get Organized to Improve Business Efficiency & Productivity

Business productivity

How to Improve Business Efficiency & Productivity

The art of placing information in a logical order, also referred to as organization, is key to business efficiency, which can in turn increase productivity. Fortunately, you can master the art of organization by making habits out of simple techniques. Here are suggestions.
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IRS Audits: High Risk Reasons for Audits

IRS Audits

Are you at risk of an IRS audit?

According to recent statistics, budget cuts, staff attrition, and a heavy workload for IRS employees mean your chances of undergoing a tax audit are less than 1%. Does that sound like a non-event to you?

Don’t be lured into a false sense of security. The statistic is a blended rate covering many types of incomes and taxpayers. Here are some of the reasons returns were audited.
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Retirement Planning Strategic Steps

Retirement Planning Strategies

Retirement Planning Strategies

Planning can help you achieve a comfortable retirement. Here are five retirement planning strategies  to consider.
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Tax News: New Overtime Pay Rules & Form 5500 Filing Reminder

Important tax news July 2016

July 2016 Tax News

Will you be ready for the new overtime pay rules?

In May, the Department of Labor updated the rules for paying overtime. Under the new rules, salaried employees who earn less than $913 per week ($47,476 per year) will be eligible for overtime pay. That is double the annual exempt amount of $23,660 from previous rules.
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How to Respond Successfully to an IRS Notice

How to respond to an IRS notice

IRS notice

Receiving an IRS notice can send chills down one’s spin. If you find yourself on the IRS mailing list, the first thing to do is not to panic. Know that you are not alone.

Each year the IRS sends millions of notices to taxpayers. Many of the concerns are easy to resolve and it is important to carefully follow the instructions.

What to do if you received an IRS notice

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Business Tax Planning Strategies to Reduce Tax Liability

Business tax planning tips

Business tax planning tips

3 Business Tax Planning Time Strategies

Are you looking for suggestions to reduce your 2016 business tax liability? Here are three business tax planning strategies to consider as summer gets underway.
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Important Tax Deadlines in June 2016 You Need to Know

june-2016-tax-deadlines

Important Tax Deadlines June 2016

There are important tax deadlines in June 2016 that you will want to be aware of. Both the deadline for your second estimated tax payment and the deadline for filing a 2015 Foreign Financial Accounts are both this month. In addition, your business may qualify for the Work Opportunity Tax Credit with a deadline for filing at the end of this month.
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Tax News: Depreciation Changes and Bad Business Debts

Changes ahead

Section 179 Depreciation Changes

Did you know that a recent law made changes to the section 179 expensing election for 2016? These modifications took effect as of January 1. Here’s what to consider as you make asset purchasing decisions this year.
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