Category Archives: Uncategorized

Setting Up Users in QuickBooks

Controlling access to your QuickBooks company file is easy when you're a one-person accounting department. You simply use one password to protect your data. But when you add new employees to the mix, do you want them to have access to absolutely everything in QuickBooks? Probably not. You have confidence in your employees or you…
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IRAs and your 2016 Tax Return

Taxpayers often have questions about Individual Retirement Arrangements or IRAs. Common questions include: When can a person contribute, how does an IRA impact taxes, and what are other common rules. If you have questions, here's what you need to know: Age Rules. Taxpayers must be under age 70 1/2 at the end of the tax…
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Tax Benefits for Parents

Taxpayers with children may qualify for certain tax benefits. Parents should consider child-related tax benefits when filing their federal tax return: 1. Dependent. Most of the time, taxpayers can claim their child as a dependent. Taxpayers can generally deduct $4,050 for each qualified dependent. If the taxpayer's income is above a certain limit, this amount…
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What is the Additional Medicare Tax?

Some taxpayers may be required to pay an Additional Medicare Tax if their income exceeds certain limits. Here are some things that you should know about this tax: 1. Tax Rate. The Additional Medicare Tax rate is 0.9 percent. 2. Income Subject to Tax. The tax applies to the amount of certain income that is…
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