Check the "support" test to maintain dependent deductions

Keep your college student qualified as your dependent by meeting the "support" test. Generally, your child cannot provide over...

IRS Announces 2016 HSA Limits

The 2016 inflation-adjusted amounts for health savings accounts (HSAs) have been released by the IRS. Individuals will be allowed to...

Employee Tax-Free Income

While most income received from your employer quickly ends up on a W-2 tax form at the end of the year, here are some common employee benefits that often avoid the impact of Federal taxes.

Smart business people learn to delegate work

As a business owner or manager, you may think that if you want things done "the right way," you have to do them yourself. But that isn't always the best approach at work, even if you firmly believe you're the best person for the job. There simply isn't enough time in the day - not if you have a business to run.

Should you be making estimated tax payments?

During the tax year you must prepay a substantial amount of the taxes you'll owe for that year, or you risk being hit with an underpayment penalty. If you're an employee, that's usually not a problem. Your employer will withhold taxes from each paycheck. You can adjust the amount withheld so that it covers your total tax bill, even if you have extra income from moonlighting or investments. But if you're self-employed or retired, you might need to make estimated tax payments.