Beyond the Numbers

Major Tax Deadlines

For JANUARY 2018 January 16 – Due date for the fourth installment of 2017 individual estimated tax. January 31 – Due date for employers to furnish W-2 statements to employees, and to file Forms W-2 with the Social Security Administration (both paper and electronic forms). Due date for payers to provide most Forms 1099-MISC with…

Read More

Looking ahead: Tax reform in 2018

Congress has passed tax reform that will take effect in 2018, ushering in some of the most significant tax changes in three decades. Here are some of the most significant items in the new bill that impact individual taxpayers. Reduction of income tax brackets. The bill retains seven brackets, but at reduced rates, with the…

Read More

The best way to avoid an audit: Preparation

Getting audited by the IRS is no fun. Some taxpayers are selected for random audits every year, but the chances of that happening to you are very small. You are much more likely to fall under the IRS’s gaze if you make one of several common mistakes. That means your best chance of avoiding an…

Read More

Does your business need cyber insurance?

It’s a nightmare scenario few small businesses consider: hackers breach your computer system, steal your customer lists and threaten to exploit sensitive data. Data breaches by malicious individuals don’t just pose a financial risk. They threaten your reputation and can trigger litigation if your customers blame you for the exposure of their data. So far,…

Read More

Common rental income mistakes

If you own rental property there are a number of mistakes you should avoid. Here are some major ones: Forgetting the 14-day rule. As long as you rent out your property for a period of 14 days or less per year, you do not have to report rental income or otherwise treat rental activities as…

Read More

Where did my retirement go? How to locate lost retirement benefits

For one reason or another, you may find yourself in a situation where you’ve lost track of a retirement account like a 401(k) or pension. There are several ways this can happen: Job change. People change jobs in today’s economy much faster than they did in the past, and that means that retirement accounts like…

Read More

New Year’s resolutions are for suckers – Do this instead

If you’re like most people, you’ve adopted a set of New Year’s resolutions for 2018. Things like losing weight, quitting smoking or drinking, saving a certain amount of money and finding a new job are among the most common resolutions. Also, if you’re like most people, you won’t keep them. Sociological research has shown only…

Read More

5 Tips for Smarter Banking

Banks are a necessary tool to navigate our daily financial lives. Unfortunately, there are aggravating practices at many banks that drive us crazy or cost us money. Here are five tips to get more out of your bank and pay less. Tip #1: Remove cash from the right place. Never use an ATM machine that is…

Read More

The Equifax Breach and You: Be Proactive

Earlier this year, hackers were able to breach the security of Equifax, one of the three national credit reporting agencies. More than 143 million Americans – nearly half the entire country – were exposed to the attack, and may have had their personal information stolen (including names and birthdates, and Social Security and driver’s license…

Read More

Navigate the Small Business Tax Maze

Small business owners face a continual headache dealing with government mandates for a jumble of federal, state and local taxes. Complying means endless paperwork, ongoing deadlines and ever-looming threats of audits and penalties. Here are some of the most common twists and turns in the small business tax maze. Employee requirements Employers must withhold federal…

Read More