The Tax GAB

/The Tax GAB
2 11, 2016

Who Claims the Kids? You or Your Ex-Spouse?

By | 2016-11-02T12:32:02-07:00 November 2nd, 2016|Blog, Financial, Monthly GAB, Tax, The Tax GAB|Comments Off on Who Claims the Kids? You or Your Ex-Spouse?

If you are a divorced or separated parent with children, a commonly encountered but often-misunderstood issue is who claims the child or children for tax purposes. This is sometimes a hotly disputed issue between parents; however, tax law includes some very specific but complicated rules about who profits from the child-related tax benefits. At issue [...]

7 09, 2016

Where did your Federal income tax dollars go in 2015?

By | 2016-09-07T15:49:15-07:00 September 7th, 2016|Blog, Business Advice, Financial, Monthly GAB, new business owner, Tax, The Tax GAB, time and money savers|1 Comment

Where did your Federal income tax dollars go in 2015? The National Priorities Project recently broke down the United States $4.2 trillion dollar Federal budget detailing where your tax dollars were allocated. The majority of your Federal income tax dollars go to health programs, defense and interest on the national debt. In 2015, the average [...]

7 03, 2016

March 2016 Tax Due Dates

By | 2016-03-07T19:23:19-07:00 March 7th, 2016|Blog, Monthly GAB, The Tax GAB|Comments Off on March 2016 Tax Due Dates

March 2016 Individual Due Dates March 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during February, you are required to report them to your employer on IRS Form 4070 no later than March 10. Your employer is required to withhold FICA [...]

4 02, 2016

Household Help: Employee or Contractor?

By | 2016-02-04T11:18:55-07:00 February 4th, 2016|Blog, Monthly GAB, The Tax GAB|Comments Off on Household Help: Employee or Contractor?

Frequently taxpayers will hire an individual or firm to provide services at the taxpayer’s home. Because the IRS requires employers to withhold taxes for employees and issue them W-2s at the end of the year, the big question is whether or not that individual is a household employee. Whether a household worker is considered an [...]