Americans’ financial well-being reaches its highest level in 10 years
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Americans’ financial well-being reaches its highest level in 10 years

Source AICPA.com Written by Samiha Khanna Americans enjoyed a 10-year high in their personal financial standing during the second quarter of 2017, according to the AICPA’s Personal Financial Satisfaction Index (PFSi). The index weighs positive and negative economic factors that contribute to the personal financial well-being of the average American. A positive rating means that financial...

IRS Warns of New Phone Scam
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IRS Warns of New Phone Scam

IRS Warns of New Phone Scam Involving Bogus Certified Letters; Reminds People to Remain Vigilant Against Scams, Schemes this Summer IR-2017-107, June 15, 2017 WASHINGTON – The Internal Revenue Service today warned people to beware of a new scam linked to the Electronic Federal Tax Payment System (EFTPS), where fraudsters call to demand an immediate...

Memorial Day History
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Memorial Day History

Three years after the Civil War ended, on May 5, 1868, the head of an organization of Union veterans — the Grand Army of the Republic (GAR) — established Decoration Day as a time for the nation to decorate the graves of the war dead with flowers. Maj. Gen. John A. Logan declared that Decoration...

Home Office Deduction Often Overlooked by Small Business Owners
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Home Office Deduction Often Overlooked by Small Business Owners

WASHINGTON — The Internal Revenue Service today reminded small business owners who work from a home office that there are two options for claiming the Home Office Deduction. The Home Office Deduction is often overlooked by small business owners. As part of National Small Business Week (April 30-May 6), the IRS is highlighting a series...

Traditional IRAs vs Roth IRAs
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Traditional IRAs vs Roth IRAs

Do you know the difference between an IRA and a Roth IRA? More than half of all Americans don’t—and we admit the two can be confusing. But we’re here to break it down. Both types of IRAs largely function the same way. You can only contribute $5,500 a year, and you can only withdraw money...

Tax Deadline
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Tax Deadline

Source: Yahoo Finance 03/27/2017 You’ve got a lot going on, let’s be honest, doing your taxes probably isn’t your top priority. But what happens if Tax Day slips by and you still haven’t filed? Step one, don’t panic. You’re not alone, and you’re not totally screwed. More than a million people missed the deadline for...

5 IRS Audit Red Flags
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5 IRS Audit Red Flags

Certain things on your tax return could attract unwanted attention from Uncle Sam. 5 IRS Audit Red Flags Kiplinger By REBECCA DOLAN, Contributing Writer March 17, 2017 Although there’s no sure way to avoid an audit, these red flags could increase your chances of unwanted IRS attention. SEE ALSO:23 Most Overlooked Tax Deductions 1. Failing...

U.S. Economic Optimism Surges
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U.S. Economic Optimism Surges

By Neil Amato   |   March 8, 2017 U.S. companies are performing well. Revenue outlook is the highest it has been in more than two years. Ditto for profit. Which helps explain why more companies are planning to expand than at any time since late 2014, new data indicate. Add to that mix a domestic...

New Rules Affect Popular Tax Credits
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New Rules Affect Popular Tax Credits

By Sally P. Schreiber, J.D. February 27, 2017 In December 2015, the Protecting Americans From Tax Hikes (PATH) Act, P.L. 114-113, permanently extended a number of tax provisions that are popular for individual taxpayers, finally ending the practice of waiting until the end of the year or even until the next year to pass retroactive...

Tax Time Guide: Protect Personal, Financial, Tax Information and Computers
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Tax Time Guide: Protect Personal, Financial, Tax Information and Computers

R-2017-55, March 9, 2017                                                                  Español WASHINGTON — The Internal Revenue Service today reminded taxpayers to be cautious and protect personal, financial and tax information, particularly at tax time. This is the sixth in a series of 10 IRS tips called the Tax Time Guide, designed to help taxpayers navigate common tax issues. This year’s tax-filing...