Monthly Archives: August 2014

Tax Rules for Children with Investment Income

Children who receive investment income are subject to special tax rules that affect how parents must report a child's investment income. Some parents can include their child's investment income on their tax return, while other children may have to file their own tax return. If a child cannot file his or her own tax return…
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Retirement Plan Options for Small Businesses

Employer-sponsored retirement plans have become a key component for retirement savings. They are also an increasingly important tool for attracting and retaining the high-quality employees you need to compete in today's competitive environment. Besides helping employees save for the future, however, instituting a retirement plan can provide you, as the employer, with benefits that enable…
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How to Save for College Tax-Free

According to a 2014 study published by the Federal Reserve Bank of San Francisco, researchers found that over a lifetime, the average U.S. college graduate will earn at least $800,000 more than the average high school graduate--even after taking into consideration the cost of college tuition and the four years of lost wages it entails.…
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Tax Due Dates for August 2014

August 11 Employees Who Work for Tips - If you received $20 or more in tips during July, report them to your employer. You can use Form 4070. Employers - Social Security, Medicare, and withheld income tax. File Form 941 for the second quarter of 2014. This due date applies only if you deposited the tax for…
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