Not all “Income” is Taxable

by | Jan 21, 2015 | Blog, Taxes

There are several sources of revenue that are not subject to income tax. Here are the most common sources of money that are not taxed on your federal income tax return: *        Borrowed money such as from banks or personal loans. *        Money received as a gift or...

Check Your Tax Withholding

by | Jan 15, 2015 | Blog, Taxes

Remember to review your tax withholding for 2015! Withholding too much tax from your wages isn’t a smart financial move. Review how much you’re having withheld in 2015 to see if it matches the actual tax liability you expect to have. If an adjustment is...

2015 Deadline for 1099s

by | Jan 7, 2015 | Blog, Taxes

February 2 is the deadline for 1099 reporting. Form 1099s must be filed by businesses each year. This year the deadline for filing falls on February 2. The most common form for businesses is probably Form 1099-MISC, used to report miscellaneous payments to...