tax return


03 Feb Tax Tips for a Down Market

Nothing can be done in a down market?  Don't think that.   According to Wall Street Journal,  you can use these opportunities to save on your tax bill.  These opportunities include:- Realizing losses to offset gains; Making contributions to retirement account; Converting IRA to a ROTH IRA; Taking advantage...

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27 Jan 2016 Tax Calendar (February and March)

Deadline * Individuals Businesses Employers Feb 1 File an income tax return and paying tax due, to avoid penalty of underpay estimated tax Providing Form 1099 to recipients of any 2015 interest, dividends and misc. income Providing 2015 W2 to employees. Feb 10 Reports Form 941 and filing an annual return of Form 940 Feb...

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19 Jan IRS Standard Mileage Rate in Vehicles Deductible Costs

IRS announced the 2016 standard mileage rates on December 23, 2015 for computing deductible costs of operating an automobile for business, charitable, medical or moving purposes.  The below table shows the 2016 rates, with 2015 and 2014 rates for comparison:- 2016 2015 2014 Business rate per mile $0.54 $0.575 $0.56 Medical & Moving...

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