Day camps are common during the summer months. Many parents pay for them for their children while they work or look for work. If this applies to you, your costs may qualify for a federal tax credit that can lower your taxes. Here are the top ten tips to know about the Child and Dependent Care … Read more
All U.S. citizens and residents must report worldwide income on their federal income tax return. If you lived outside the U.S. on the regular due date of your tax return, the extended filing deadline for your 2014 tax return is Monday, June 15, 2015. Similarly, the deadline to report interests in certain foreign financial accounts … Read more
By law, Americans living abroad, as well as many non-U.S. citizens, must file a U.S. income tax return. In addition, key tax benefits, such as the foreign earned income exclusion, are only available to those who file a U.S. return. The Internal Revenue Service is launching three new online videos and expanding other online resources … Read more
If you suffer damage to your home or personal property, you may be able to deduct the losses you incur on your federal income tax return. Here are 10 tips you should know about deducting casualty losses: 1. Casualty loss. You may be able to deduct losses based on the damage done to your property … Read more
Today from the Telegraph: Forcing everyone to spend only by electronic means from an account held at a government-run bank would give the authorities far better tools to deal with recessions and economic booms, writes Jim Leaviss Gee what a wonderful idea. No cash. No buying or selling with anonymity and privacy. You get the wonderful … Read more
If the plan documents and contracts of deferred compensation plans are not carefully drafted to comply with the requirements of Internal Revenue Code § 409A, a tax disaster can befall the employees intended to be benefited by such arrangements. Many companies provide deferred compensation arrangements for important employees. Deferred compensation arrangements can be done through … Read more
If you have an effective human resource performance, this will set the foundation for your company to be able to achieve rewarding excellence. There are several steps when it comes to HR management but each step is a must so that you will have an HR division that is truly productive and efficient. One of … Read more