For almost the entire past decade, interest rates held steady at near-zero levels. Then, in mid-December 2015, the Federal Reserve raised rates by one-quarter percentage point. Market watchers and economists expect further rate increases in the coming months. How will you be affected? Technically speaking, only the federal funds rate… Read More»
The “extender” tax legislation passed in December made permanent many well publicized tax deductions. But a peek under the hood reveals some lesser-known changes that could impact your taxes. Payroll penalties. Beginning in 2017, small errors (generally $100 or less) on information returns such as Forms W-2 and 1099 will… Read More»
In mid-December 2015, Congress extended tax deductions and credits that had been scheduled to expire. Here are several you can benefit from as you prepare your 2015 personal and business federal income tax returns. Child credit. You can claim this $1,000 tax credit for each qualifying dependent child who was… Read More»
