Profit Statements: The P&R Blog
Worth Fighting For: Tax Benefits for Members of the Armed Forces
If you’re a military Service member, Congress recognizes your patriotism and sacrifice by including designated, individual tax benefits and breaks in the tax code. Special rules exist that can lower your tax liability or even give you more time to file your individual income tax return and pay the taxes due. Under certain circumstances, you …read more.
IRS at Your Fingertips
Tired of being placed on hold by the IRS? Want to get the latest updates and information quickly and efficiently? The IRS wants to help (really!): it now provides information to taxpayers in many formats that don’t waste callers’ time on the phone: There’s an APP. IRS2Go allows you to interact with the IRS website …read more.
Beware of Bogus New IRS Phone Scam
The Internal Revenue Service recently issued a warning to individual taxpayers about a new telephone scam, reported numerous times across the country. In the latest deception, the fraudulent caller claims to work for the IRS and demands you make an immediate income tax payment through a prepaid debit card. The IRS impersonator furthers informs you …read more.
Business Travel: Automation Can Minimize the Administrative Headache
We regularly provide our clients business growth consulting, and a key element of growth often involves travel. But business travel usually proves costly for both the employer and employee. Moreover, when either party fails to follow all the rules, detrimental tax implications may result for the employee. “Business travel” comprises: Trips taken solely or primarily …read more.
You’re in a Loved One’s Estate Plan and Inherit an IRA – Now What?
If you recently inherited an IRA or 401k, then someone close you passed away and we offer our condolences. The passing of a loved one is never easy, and, in fact, the loss may temporarily impair your judgment. We encourage you not to make any hasty financial planning decisions, especially if they can’t be reversed …read more.