The federal tax deadline has come and gone. What if you haven’t filed your taxes? (more…)
Archive for April, 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…)
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.
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…)
When it comes to 1099 reporting rules, it’s out with the new and in with the old. (more…)
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…)
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…)
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?