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The Atlantic hurricane season officially began in June, so now is a good time for individuals, organizations, and businesses to make or update their emergency plans. Here are five steps taxpayers can take to safeguard their tax records before disaster strikes: 1....

The "Dirty Dozen" is a list of common tax scams that target taxpayers. Compiled and issued annually by the IRS, it includes a number of aggressive and evolving schemes that taxpayers should avoid. Let's take a look at this year's "Dirty Dozen" tax scams: 1. Use of...

If you received a CP2100 or CP2100A notice from the IRS this year, don't ignore it. Here's what you need to know: In mid-April 2022, the Internal Revenue Service began sending CP2100 and CP2100A notices to financial institutions, businesses, or payers who filed...

When choosing a payroll service provider to handle payroll and payroll tax, employers need to make sure they choose a trusted payroll service that can help them avoid missed deposits for employment taxes and other unpaid bills. Typically, these clients remain legally...

Contributions to a Health Savings Account (HSA) are used to pay the account owner's current or future medical expenses, their spouse, and any qualified dependent and are adjusted annually for inflation. For 2023, the annual inflation-adjusted contribution limit for a...

With teen employment expected to be plentiful this summer, with better pay and more opportunities, chances are good that your high school or college student will have a job this summer. Here's what they should know about summer jobs and taxes: Form W-4 When anyone...

When creating a budget, it's essential to estimate your spending as realistically as possible. Here are five budget-related errors commonly made by small businesses and some tips for avoiding them. Not Setting Goals It's almost impossible to set spending priorities...

It's never too late to start saving for retirement, but the sooner you begin, the more time your money has to grow. That's because gains each year build on the prior year's gains thanks to the power of compound interest - and it's the best way to accumulate wealth....

If you live or work outside the United States, you generally must file and pay your tax the same way as people living in the U.S. This includes people with dual citizenship. People who live and work abroad have until June 15, 2022, to file their 2021 federal income...

May 1st is the traditional deadline for undergraduate students to commit to their college of choice, which means tuition payments are not far behind. If you're wondering if your child's scholarships are taxable, here's what you should know. First, it's important to...