By: Alex Franch, BS EA Were you lucky enough to get a holiday bonus, but noticed it was much smaller than you expected after taxes were taken out? Here’s an example of why this happens. Let’s begin … Read More
By Thomas Holmes, JD No, you will not receive a tax credit for having circuit breakers in your home. The Massachusetts Circuit Breaker Tax Credit is an income tax credit for certain people age 65 or … Read More
By – Cindy Toran Have you ever thought about how you could benefit from a self-directed IRA? Any ideas on how you might use one to your financial advantage? It would seems simple enough. Invest in … Read More
by Alex Franch, Enrolled Agent Most business travel of involves the use a car, van, pickup or panel truck. While the costs are significant, tax deductions are available. What Does Business Travel include? Travel from one … Read More
by Cindy Toran, Tax Manager As any parent knows well, expenses for dependent care, such as child care or adult care, can be significant. The IRS provides a subsidy for working people who pay for dependent … Read More
The term “trust fund recovery penalties” refers to a tax penalties assessed against the directors or officers of a business entity that failed to pay a required tax on behalf of its employees. For example, employers … Read More
by Alex Franch, Enrolled Agent As we look back 100 years to the start of World War I, let us look to California where you can exclude payments received from the Ottoman Empire from your income. … Read More
by Alex Franch, Enrolled Agent Recently, the Massachusetts Department Of Revenue (Mass DOR) announced some new tax fraud prevention tools. Let’s compare how Massachusetts Department of Revenue measures up to the big dogs at the IRS … Read More