New Hires Can Pay Off

The Hiring Incentives to Restore Employment (HIRE) Act was designed to encourage employers to hire and retain new workers. Employers who hire unemployed workers this year (after Feb. 3, 2010, and before Jan. 1, 2011) may qualify for a 6.2-percent payroll tax...

Taking the IRS for a Ride

To take a business expense deduction for the use of your car, you must determine what percentage of the vehicle was used for business. No deduction is allowed for strictly personal use, such as commuting. Deductible car expenses can include the cost of traveling from...

Did your teen have a job this summer?

Before you put up that sunscreen and pack those backpacks for school, there’s one more summer task yet to be done. If your teenager had a summer job, the IRS wants you to know you may need to pay Uncle Sam. Double check to make sure the employer withheld the...

Five important tips if you are opening a new business

Are you opening a new business? Here are five steps you need to consider for the IRS: What type of business entity you are going to establish? This will determine which tax form you have to file. The most common types are sole proprietorship, partnership, corporation...

Summer child care may qualify for tax credit

Did you know that your summer day care expenses may qualify for an income tax credit? Many parents who work or are looking for work must arrange for care of their children under 13 years of age during the school vacation. Those expenses may help you get a credit on...