Would a Mid-Year Tax Checkup Benefit You?

Article Highlights: Procrastination Can Lead to Unnecessary Taxes & Penalties Events That Create Tax Problems & Opportunities Mid-Year Tax Checkup If you are inclined to procrastinate until the end of the year or, even worse, until tax-filing season to worry about your taxes, you may be missing out on opportunities to reduce your taxes and […]

The Life of an Estimate in QuickBooks Online

Estimates-or quotes, or bids-are useful tools when you’re pitching a sale of products or services. Here’s how QuickBooks Online handles them. Sales estimates are standard procedure in many professions. You wouldn’t authorize a car repair without one. Nor would you OK a remodeling job on your kitchen or a summer’s worth of yard landscaping without […]

Gift Tax Treatment of Tuition Plans

Article Highlights: Purpose of Qualified Tuition Plans Gift Tax Implications Special Five-Year Election Change of Beneficiary Eligible Expenses Direct Payment of Tuition Qualified tuition plans (QTPs) provide a means for family members and others to save for the future educational needs of children. Investment earnings within a QTP account are tax deferred and not taxable […]

Electric Vehicle Credit on the Decline

Article Highlights: Tax Credit Credit Phase-Out Tesla General Motors Determining the Credit Off-Road Vehicles and Golf Carts Allocation Between Business and Personal Use Credit Reduces Basis Business Standard Mileage In 2009, Congress created a tax credit for the purchase of electric vehicles as a stimulus for car companies to manufacture “green” vehicles, and as an […]