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- If You Owe the IRS a Lot of Money, You May Not Want to Plan Any Out-of-the-Country Trips
- As promised several months back, the IRS has begun to crack down on seriously delinquent taxpayers. A law passed on Dec. 4, 2015, requires the IRS to notify the U.S. State Department when someone has “seriously delinquent tax debt,” after which the State Department will generally deny an application for issuance or renewal of a passport for that individual and can even revoke or limit a previously issued passport.
- 9 Best Ways to Start a Business Budget to Spur and Guide Growth
- Building a business is a process that requires careful attention to many individual points, all with the goal of increasing customers, improving products, and building profit. There are many elements that contribute to the ability of a company to grow. One key area to focus on is the budget. From the foundation of the business, a well-planned budget can create a financially sound business with clear directions. To achieve that, consider these nine key ways to create an effective budget that spurs and guides the growth of your company.
- Medical Deductions & The New Tax Law
- The Act’s final version retained the itemized deduction for medical expenses even though the original House version would have done away with this deduction altogether.
- QuickBooks Tip: Tracking Time in QuickBooks
- If your company sells services, you can track the time spent providing them in QuickBooks.
- New Tax Law Cracks Down on Home Mortgage Interest
- For years, taxpayers have been able to deduct home mortgage interest on their primary and second homes as an itemized deduction, subject to certain limitations. The interest deduction was limited to the interest on up to $1 million of acquisition debt and $100,000 of equity debt.
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