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Americans move
around a lot. We change houses. And we change jobs.
Fortunately, the IRS is willing to help us out a bit if
we move because of a job change or transfer. Under the
tax law, an employee or self-employed individual is
allowed to deduct certain costs of moving to a new home
if the move is a result of a change in the individual’s
principal place of work and if certain tests are met.
...click
here for more... |
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You didn’t
think you’d have a problem keeping your savings in your
traditional IRA until you reached age 59½.
Unfortunately, though, you need to take money out of
your account now. You’ll have to pay income taxes on
your early withdrawal, but what about the additional 10%
penalty tax? Can it be avoided?
The federal tax law does let
taxpayers off the 10% penalty hook in certain
situations.
...click here for more... |
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Business
owners aren’t in business to lose money. So there’s not
much to like about a nonprofitable year. For a
shareholder in an S corporation, however, a down year
can have an upside — the corporate loss may give rise to
a personal tax deduction.
Standing between an S
shareholder and the loss deduction is a tricky tax
computation known as “adjusted basis.” Under the tax
law, a shareholder’s loss deduction is...
...click here for more... |
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~ On The Move
~ Withdrawing from Your
IRA Without Penalty
~ Is an S Corporation
Loss Deductible?
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Increase in Federal Minimum Wage. |
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An update in
the new Federal Minimum Wage and how it will effect you
in the next two years.
...click here for more... |
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Where Does The Money Go? |
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A look at American's
savings and sending. See if you have your needs
and wants in order.
...click here for more... |
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QuickBooks Tip: How Do I Setup an Account for
Online Banking Services? |
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Online banking is great time saving
feature within QuickBooks. Find out how to set
this feature up.
...click here for more... |
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