RSS Feed Take a look at our recent blog posts and client newsletter articles. en-us Sat, 01 May 2021 09:00:00 -0500 Sat, 01 May 2021 09:00:00 -0500 Tax Withholding for Seasonal and Part-Time Employees Part-time and seasonal employees are subject to the same tax withholding rules that apply to other employees. Sat, 01 May 2021 09:00:00 -0500 Tax Return Tips for Last-Minute Filers If you've been procrastinating about filing your tax return this year, here are some tips that might help. Sat, 01 May 2021 09:00:00 -0500 Saving for Education: Understanding 529 Plans Section 529 plans are an excellent way to save for your child's education and can be used for pre-college and vocational education expenses as well as college. Sat, 01 May 2021 09:00:00 -0500 Deducting Business-Related Car Expenses If you're self-employed and use your car for business, you can deduct certain business-related car expenses. Sat, 01 May 2021 09:00:00 -0500 Avoiding Tax Surprises When Retiring Overseas Are you approaching retirement age and wondering where you can retire to make your retirement nest egg last longer? Retiring abroad may be the answer. But first, it's important to look at the tax implications because not all retirement destinations are created equal. Sat, 01 May 2021 09:00:00 -0500 Q & A: The $10,200 Unemployment Tax Break A new tax break - in effect only for the 2020 tax year - allows you to exclude the first $10,200 of unemployment compensation from your taxable income. Thu, 01 Apr 2021 09:00:00 -0500 PPP Loan Deadline Extended Through May 31 The Paycheck Protection Program Extension Act of 2021 was signed into law on March 31, extending the deadline to apply for a loan by an additional 60 days. Thu, 01 Apr 2021 09:00:00 -0500 Highlights of the American Rescue Plan Act Signed into law on March 11, the American Rescue Plan Act of 2021 contains several tax provisions affecting individuals and families. Thu, 01 Apr 2021 09:00:00 -0500 Federal Tax Deadline Extended To May 17 The federal income tax filing due date for individual taxpayers, including those who pay self-employment tax, has been extended to Monday, May 17, 2021. Thu, 01 Apr 2021 09:00:00 -0500 Economic Impact Payments: Round Three Starting March 12, the IRS began sending out the third round of economic impact payments via direct deposit, paper checks, and EIP Cards. Thu, 01 Apr 2021 09:00:00 -0500 10 Surprising Facts About Online Sales Taxes sales tax, online, tips Thu, 13 Sep 2012 09:00:00 -0500 Back-to-School Tips for Students and Parents Paying College Expenses Whether you’re a recent high school graduate going to college for the first time or a returning student, it will soon be time to head to campus, and payment deadlines for tuition and other fees are not far behind. The IRS offers some tips about education tax benefits that can help offset some college costs for students and parents. Typically, these benefits apply to you, your spouse or a dependent for whom you claim an exemption on your tax return. Fri, 31 Aug 2012 09:00:00 -0500 Inaction in Congress could delay tax refunds Congress could delay billions of dollars in 2013 U.S. tax refunds, dealing a blow to the economy, if it waits too long after the November 6 elections to finalize tax law, a top tax oversight official said. Tue, 21 Aug 2012 09:00:00 -0500 How to Get a Transcript or Copy of a Prior Yearâ??s Tax Return from the IRS Taxpayers should keep copies of their tax returns, but if they cannot be located or have been destroyed during natural disasters or by fire, the IRS can help. Whether you need your prior yearâ??s tax return to apply for a loan or for legal reasons, you can obtain copies or transcripts from the IRS. Wed, 15 Aug 2012 09:00:00 -0500 Donâ??t Overlook the Benefits of Miscellaneous Deductions If you are able to itemize your deductions on your tax return instead of claiming the standard deduction, you may be able to claim certain miscellaneous deductions. A tax deduction reduces the amount of your taxable income and generally reduces the amount of taxes you may have to pay. Mon, 13 Aug 2012 09:00:00 -0500 Health Care Law\'s Tax Hikes Are Coming: Who Pays? Who gets thumped by higher taxes in President Barack Obama's health care law? The wealthiest 2 percent of Americans will take the biggest hit, starting next year. And the pain will be shared by some who aren't so well off â?? people swept up in a hodgepodge of smaller tax changes that will help finance health coverage for millions in need. Thu, 09 Aug 2012 09:00:00 -0500 Expanded Adoption Tax Credit Still Available for Extension Filers If you adopted a child last year and requested an extension of time to file your 2011 taxes, you may be able to claim the expanded adoption credit on your federal tax return. The Affordable Care Act temporarily increased the amount of the credit and made it refundable, which means it can increase the amount of your refund. Wed, 25 Jul 2012 09:00:00 -0500 IRS Staffing for Health Care Reform Called into Question The Internal Revenue Service needs to do a better job of estimating its staffing needs for implementing the Affordable Care Act, according to a new government report. Mon, 23 Jul 2012 09:00:00 -0500 Guidance on tax treatment of tips vs. service charges Tips included for both employee and employer taxes. This ruling provides guidance for employers and employees in a question and answer format regarding taxes imposed on tips under the Federal Insurance Contributions Act (FICA), including information on the difference between tips and service charges, the reporting of the employer share of FICA under section 3121(q) of the Code, and the section 45B credit. See related Announcement 2012-25, published elsewhere in this Bulletin. Rev. Rul. 95-7 modified and superseded. Thu, 05 Jul 2012 09:00:00 -0500 July Spotlight Employee: Adam Schweiss Adam was recently promoted to Manager from Senior Accountant. He comes to us from Rubin Brown, LLP, a large regional firm in St. Louis, where he developed a strong tax background. Adam continues to shine for Thurman, Shinn and Company where he specializes in financial reporting, individual and corporate taxes. Tue, 03 Jul 2012 09:00:00 -0500 FAQs explain employers' withholding obligations for post-2012 additional Medicare tax IRS has released new guidance, in question and answer (Q&A) format, on the 0.9% additional Medicare tax scheduled to go into effect in 2013. The Q&As are intended to assist employers and payroll service providers in adapting systems and processes that may be affected by the new tax. Tue, 03 Jul 2012 09:00:00 -0500