Monthly Archives: June 2016

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Surviving Spouse Estate Tax Exclusion

The estate tax is a tax on the transfer of property after an individual’s death. It consists of an account of everything the decedent owned or had interest in on the date of death. This includes cash and securities, real estate, insurance, trusts, annuities, business interests, and other assets. The tax is based on the [...]

By | 2016-11-23T22:45:40+00:00 June 17th, 2016|Categories: Uncategorized|0 Comments

Tax Breaks for Hiring Your Children in Your Family Business

With school vacation time just around the corner and employees heading out for summer vacations, you might consider hiring your children to help out in your business. Financially, it makes more sense to keep the family employed rather than hiring strangers, provided, of course, that the family member is suitable for the job. Rather than [...]

By | 2016-11-23T22:45:40+00:00 June 15th, 2016|Categories: Uncategorized|0 Comments

Solar Tax Credits – Before You Take the Leap

When you see those TV ads for home solar power, you may get the impression that Uncle Sam is going to pick up 30% of your cost and you only have to come up with the other 70%. That is not necessarily the whole picture. True, the federal government has a 30% tax credit for [...]

By | 2016-06-06T21:28:38+00:00 June 6th, 2016|Categories: Uncategorized|0 Comments

June 2016 Individual Due Dates

June 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during May, you are required to report them to your employer on IRS Form 4070 no later than June 10. Your employer is required to withhold FICA taxes and income tax withholding [...]

By | 2016-11-23T22:45:40+00:00 June 2nd, 2016|Categories: Uncategorized|0 Comments