In 1995, 114,000 IRS employees processed 205 million tax returns. This year, 91,000 employees will process 236 million returns.
The average tax refund on returns filed for 2011 was $2,983.
As the summertime school vacation season approaches, young family members may be looking for a job — and having a hard time finding one. Hire them in your family business, and you get a double benefit: helping the kids gain valuable experience and garnering tax breaks for your company. (more…)
Taking a much-needed break? Ensure that you will enjoy the peace and quiet by tying up loose ends before ditching your desk. (more…)
“FSA” stands for Flexible Spending Account. Many companies offer FSAs as part of their benefit package. And if you’re eligible but not using one, you could be missing out on a way to reduce your health care costs. (more…)
What do you want to be when you retire?
You and your friends may have asked each other a similar question in high school. No matter what your age is now, looking ahead to the future is important — and the retirement plans you participate in have a big impact on that future. (more…)
According to the Tax Foundation, April 17, 2012, was not only the day 2011 tax returns were due, it also was Tax Freedom Day for 2012. That means Americans worked 107 days, from January 1 to April 17 to earn enough money to pay their federal, state, and local taxes for 2012. (more…)
It is not likely that you will receive any notification before a customer decides to terminate your relationship- they will simply stop coming back. (more…)
The IRS has published depreciation limits for business vehicles first placed in service this year. Because 50% bonus depreciation is allowed only for new vehicles, these limits are different for new and used vehicles. (more…)
Here’s a capital idea: Make sure your C corporation is properly capitalized. In addition to legal issues, the amount you have invested in your company can play a role in determining how future loans are treated for tax purposes. (more…)