For many, being in the position to either sell your primary residence or rent the property is a powerful one. Rental income can be a great additional source of income and the investment, if managed properly against the rest of one’s financial portfolio, can contribute to a nice tax shelter.
7 Mid-year Tax Tips Everyone Should Consider
Taxes - Planning, Rules and Returns , Taxes - IndividualThinking about income taxes should not just be an end-of-year or pre-April-15-panic occurrence. The well-informed taxpayer will think about these seven mid-year tax tips that could help save on his next income tax filing, as well as yours.
Show Me the Money! BWC annual True-up reports due soon
Bureau of Worker's Compensation , Business - Management, Issues & ConcernsThe midway mark in the calendar year signifies a checkpoint for the Bureau of Workers Compensation (BWC). The BWC Annual True-up reports are due soon and while many companies are ready, some may still be a little fuzzy about the new process and timeline.
This is the second year for annual True-up reporting. Most private employers are on a bi-monthly payment installment schedule (other than the minimum payers). If employers wish to elect a monthly installment option, they can make the change annually prior to the start of the new policy year,
WASHINGTON – The Internal Revenue Service issued a warning that tax-related scams continue across the nation even thou
gh the tax filing season has ended for most taxpayers. People should remain on alert to new and emerging schemes involving the tax system that continue to claim victims.
“We continue to urge people to watch out for new and evolving schemes this summer,” said IRS Commissioner John Koskinen. “Many of these are variations of a theme, involving fictitious tax bills and demands to pay by purchasing and transferring information involving a gift card or iTunes card. Taxpayers can avoid these and other tricky financial scams by taking a few minutes to review the tell-tale signs of these schemes.”
Do You Have an HSA? What you need to know about the 2018 limits
HSA , Taxes - Planning, Rules and Returns , Taxes - IndividualThe 2018 health savings account (HSA) guidelines were recently released by the Internal Revenue Service (IRS). These guidelines outline the inflation-adjusted contribution, deductible, and out-of-pocket spending limits for Health Savings Accounts (HSAs) and high-deductible health plans (HDHPs) for calendar year 2018.
IRS Warns of New Phone Scam Involving Bogus Certified Letters; Reminds People to Remain Vigilant Against Scams, Schemes this Summer
fraud , income tax , IRS
WASHINGTON – The Internal Revenue Service again warned people to beware of a new scam linked to the Electronic Federal Tax Payment System (EFTPS), where fraudsters call to demand an immediate tax payment through a prepaid debit card. This scam is being reported across the country, so taxpayers should be alert to the details.
Partner Howard J. Kass, CPA, CGMA, AEP®, was recently installed as president of the Cleveland-Akron Chapter of the Society of Finance Service Professionals.
"It is an honor and privilege to serve the Society and continue its longstanding mission of setting and promoting standards of excellence for professionals in financial services.
Employers: $1 billion Headed Your Way in July
Bureau of Worker's Compensation , Taxes - Corporate & Business , Business - Management, Issues & ConcernsFrom the Ohio Bureau of Workers' Compensation news desk
June 15, 2017
Ohio’s economy will get a big boost in July. That’s when the BWC will send $1 billion in rebates to eligible Ohio employers, the first part of The Third Billion Back plan that was announced in March.
IRS Alerts Taxpayers with Limited English Proficiency of Ongoing Phone Scams; Urges Caution Before Paying Unexpected Tax Bills
Brett W. Neate , Credit card fraud , IRS
WASHINGTON — The Internal Revenue Service continues to warn taxpayers with limited English proficiency of phone scams and email phishing schemes that continue to occur across the country.
Con artists often approach victims in their native language, threaten them with deportation, police arrest and license revocation, among other things.
“These scammers continue to adapt and evolve, and the IRS continues to receive reports of these schemes using multiple languages trying to find victims across the country,” IRS Commissioner John Koskinen said.
Q: I am fed up and frustrated trying to keep—and remember passwords that are both complex and creative. This is frustrating and I am at my wit's end. What can I do to make it easier for me to remember but more secure against attacks? -Mary Kay C, Business Executive, Brookpark, Ohio
A: Thanks for your question, Mary Kay. Yours is one that almost everyone can relate and you are not alone in your frustration. Fortunately, I may be able to provide some insight and an alternative for you.
Have Nagging Financial Questions?
