While the deadline for filing your 2016 federal income return is still several months off, there are some things you should be doing now in preparation. The Internal Revenue Service (IRS) notes that for most of us, December 31 is the last day to take actions that will affect our tax returns. What to do Charitable…
Just in time for busy season, the IRS has issued a due-diligence heads-up for tax preparers who handle returns that claim the Earned Income Tax Credit (EITC), American Opportunity Tax Credit (AOTC), and the Child Tax Credit (CTC). Under the Protecting Americans from Tax Hikes (PATH) Act, enacted by Congress at the end of 2015,…
You can face serious consequences if you do not know the difference between an employee and independent contractor and misclassify your workers. Business & Financial Solutions has educated companies and employees on the issues affecting both sides of the working relationship, thereby helping to prevent and/or solve unnecessary tax problems. Form SS-8 is used by individuals and firms…
