Tax Saving Ideas for Individuals

| Alerding Alerts

As the year comes to a close, we wanted to make you aware of a few steps you can take now to save taxes and/or penalties for 2015: Maximize Your Charitable Donations Deduction If you are thinking of giving to charity during this holiday season, make sure you know the rules so that the deduction will be allowed: You can only deduct gifts you’ve given to qualified charities, so if you are unsure if the group is qualified, you can call our office or check the list on the IRS website. You must Read more [...]

Year-End Payroll Reporting Changes and Updates

| Alerding Alerts

The year-end is quickly coming to a close and it will soon be time to prepare and file forms W2 and the related payroll tax returns. We wanted to make you aware that some fringe benefits provided to employees as well as 2% or greater shareholders are taxable and should be reported on W2 forms in order for them to be deductible business expenses. Taxable fringe benefits include: • Personal use of company vehicle (including shareholders’ use) • 2% or greater shareholders’ health insurance • Read more [...]