Learn what factors determine whether a household worker qualifies as an employee or an independent contractor.

Household Help: Employee or Contractor?

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Taxpayers often will hire an individual or firm to provide services at the taxpayer’s home. Because the IRS requires employers to withhold taxes for employees and issue them W-2s at the end of the year, the big question is whether or not that…
May 2019 Due Dates

May 2019 Individual Due Dates

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May 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during April, you are required to report them to your employer on IRS Form 4070 no later than May 10. Your employer is required…

Making Two IRA Rollovers in One Year Can Be Costly

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Article Highlights:  One Rollover per Year Rule Exceptions Tax Consequences Disqualified Rollover Early Withdrawal Penalty Tax law permits you to take a distribution from your IRA account, and as long as you return the…

Understanding Tax-Deferred Investing

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Article Highlights: Income Deferral Earnings Deferral Individual Retirement Accounts Retirement Accounts Bank Savings Short- and Long-Term Capital Gains Education Savings Accounts Health Savings Accounts When you…

Not Using QuickBooks Online? What You're Missing Out On

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If you dread every minute of the time you spend on accounting, you should know how QuickBooks Online can change your outlook.  How long would it take you to determine: What your total expenses for this quarter are? Whether or not…

Kiddie Tax No Longer Based on Parents’ Tax Rate

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Article Highlights: Parents Attempting to Shift Income to Children Kiddie Tax Tax Reform Changes Tax on Child’s Unearned Income Tax on Child’s Earned Income Some years back, it was not uncommon for parents to put…
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4 Money Lessons Every Teenager Needs to Know

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Article by Katherine Vasel | Found on CNN It's time to talk to your teenager about money. The teen years may be the first time kids start to earn their own money. And establishing good habits now can pay dividends well into their future. Plus,…
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Is Your Credit Score Affecting Your Quality of Life?

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Article by Anna Johansson | Found on NBC The American dream is usually characterized as working hard from the bottom up, making a good salary, buying a house and having time to create and enjoy your family life. But the vision doesn’t…
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3 Tips to Getting Retirement Right in Your 20s

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Article by Walter Updegrave | Found on CNN I'm in my 20s and would like to start taking steps to ensure a secure retirement and financial future. But like many people in my generation I'm confused about where to start, who to contact and what…
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Improving Your Relationship With Money In 2018

Article by Michael F. Kay | Found on Forbes The turning of the calendar year is traditionally a time when you feel inspired by the possibilities of a new start, a new beginning, and the onset of positive change. It can be a time that is…