If you are like me, it’s often hard to determine whether to hire a CPA to do my taxes for me or to do them myself using an online service. A great article I found on Investopedia.com provides guidelines to help with that choice. There’s no single answer for every taxpayer. Choose the tax preparation […]
By Chuck Bentley You will need to report your healthcare arrangements to the IRS as one of the consequences of Obamacare, or else: Failure to comply can result in a reduced tax refund and penalties. First, there’s the coverage issue. Under Obamacare’s individual shared responsibility provision, you must let the IRS know when you file […]
By Chuck Bentley I hope you know that a key part of the Affordable Care Act (ACA) requires that taxpayers have qualifying health care coverage. Those without will need to qualify for an exemption or pay a penalty. This “Individual Shared Responsibility” provision applies to both individuals and families. If you, your spouse, and everyone […]
Medicare is a government-sponsored health insurance program for most people who are 65 or older, although some disabled people under the age of 65 also may qualify. Individuals 65 or older who don’t qualify for Medicare can still receive it by paying a monthly premium, which is generally adjusted yearly according to age and medical […]
by Rick Boxx of Integrity Resource Center. “Do I pay staff, payroll taxes, or the vendor?” After staring at the checkbook it was obvious I could only do one of the three. This is a dilemma many business leaders have faced, but now the decision was mine. Most business owners would say pay the employee […]
In addition to travel and transportation expenses and housing allowance, there are other professional expenses that can be tax deductible for ministers if they are not paid for by the church or reimbursed by the church. Ministers can deduct up to $25 per donee for business gifts to any number of individuals every year. The […]
Step into this next season in control of your finances.