Mike's weekly post usually concentrated on tax saving strategies.
End of January Tax Tips...
You need not make the January 15 quarterly estimate for 2014 if you file your 2014 tax return and pay taxes due by February 2, 2015.
February 2 is the deadline for employers to provide 2014 W-2s to employees.
Don't forget about the nanny tax!
A good domestic worker can help take care of your children, assist an elderly parent, or keep your household running smoothly. Unfortunately, domestic workers can also make your tax situation more complicated.
Who have you designated as beneficiaries for your insurance policies and retirement accounts? If you can't remember, you're not alone. But it's worth checking. If you make the wrong decision, it could affect who inherits those assets. In some cases, it could also change the taxes your beneficiaries will pay and the value they'll receive. Here are some key facts about beneficiary designations.
What are they?
This is a question we are ask this time of year, so here are some Quick guidelines:
What will happen to your business if you die, retire, or become disabled? If you are the owner of a small business, you need a means for the transfer of that business in the event something happens to you. With a "buy-sell" agreement, you are able to plan for many contingencies over which you would otherwise have little control. A buy-sell agreement should establish a price for the business and the method of succession.
