Archive for April, 2011

Didn’t File Your Taxes or Can’t Pay Them Now? Here’s What To Do

Friday, April 29th, 2011

The federal tax deadline has come and gone. What if you haven’t filed your taxes? (more…)

Raiding Your 401K? It’ll Cost You

Tuesday, April 26th, 2011

A recent study by Bankrate found that nearly one-fifth of full-time employed Americans have raided their retirement accounts in the past year to cover emergency expenses. These results match a Fidelity Investments study last year that reported the number of workers borrowing against their retirement accounts had reached a 10-year high. Given the financial stress that many workers face today, the numbers are not that surprising, but the long-term consequences can be. (more…)

Have Questions About Ohio Use Tax? See Our Resource Center

Wednesday, April 20th, 2011

As we’ve been telling you over the past few weeks, the state of Ohio is about to step up its efforts to enforce its use tax law. To help businesses better understand and comply with Ohio’s use tax law, Rea & Associates recently created the Ohio Use Tax Resource Center, an online resource center. As far as we know, it’s the only resource center of its kind available to Ohio businesses.

Note: Ohio has established a tax amnesty program since this post was originally created. Please click here for the most recent information.

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Looking at Target Date Retirement Funds? Here Are Some Considerations

Monday, April 18th, 2011

Does your company provide target date funds as an option in its 401(k) plan?  Many 401(k) plans use them as the default investment for plan participants who do not select their investments under the plan. Target date funds do make investing much easier for participants by automating the asset allocation process, but they still require careful consideration both before and after the investment decision is made. (more…)

What’s the Latest on 1099 Reporting?

Friday, April 15th, 2011

When it comes to 1099 reporting rules, it’s out with the new and in with the old. (more…)

Did You Win at March Madness? Remember to Pay Uncle Sam

Tuesday, April 12th, 2011

If your NCAA college basketball bracket brought you some winnings, remember that your earnings count as taxable income, and you’ll need to report it when you file your 2011 taxes. (more…)

Is This Really A Message From The IRS?

Tuesday, April 5th, 2011

It’s that time of year when unsuspecting taxpayers receive suspicious emails, phone calls, faxes or notices claiming to be from the IRS. Many of the scams use the IRS name or logo to appear more authentic. (more…)

What’s The Impact If I Don’t Comply With Ohio Use Tax?

Monday, April 4th, 2011

For the past few weeks. we’ve been talking about the state of Ohio’s stepped up enforcement of its use tax law. So what happens if you don’t comply?

Note: Ohio has established a tax amnesty program since this post was originally created. Please click here for the most recent information.

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