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Intended for taxpayers with taxable income, but who lack access to retirement savings plan at work, the myRA program was launched nationwide last month after an initial pilot phase. The program was developed in response to the finding that millions of Americans lack...

Happy Holidays From Mensa Tax Experts! We Wish You and Your Family the Very Best for a Happy and Healthy Holiday Season.  HOT NEWS: As the new year approaches, Mensa Tax Experts is taking a new name: TaxGenuity, Inc. - Tax Experts & IRS Problem Solvers This...

If you hire someone for a long-term, full-time project or a series of projects that are likely to last for an extended period, you must pay special attention to the difference between independent contractors and employees. Why It Matters The Internal Revenue Service...

Whether you file as a corporation or sole proprietor here's what business owners need to know about tax changes for 2015. Standard Mileage Rates The standard mileage rates in 2015 are as follows: 57.5 cents per business mile driven, 23 cents per mile driven for...

2015 Tax Provisions for Individuals: A Review From tax credits and educational expenses to the AMT, many of the tax changes affecting individuals for 2015 were related to the signing of the American Taxpayer Relief Act (ATRA) in 2013--tax provisions that were...

Income tax is often withheld from wages and other types of income such as pensions, bonuses, commissions and gambling winnings. Ideally, taxpayers should try to match their withholding with their actual tax liability. If not enough tax is withheld, they will owe tax...

Farmers and ranchers who previously were forced to sell livestock due to drought, like the drought currently affecting much of the nation, have an extended period of time in which to replace the livestock and defer tax on any gains from the forced sales. The one-year...

The Affordable Care Act includes the individual shared responsibility provision that requires you, your spouse, and your dependents to have qualifying health insurance for the entire year, report a health coverage exemption, or make a payment when you file. Who is...

The healthcare law contains tax provisions that affect employers. The size and structure of a workforce--small or large--helps determine which parts of the law apply to which employers. Calculating the number of employees is especially important for employers that...

While the fate of several business-related tax extenders such as Research & Development tax credits, bonus depreciation, and Section 179 expensing that expired at the end of 2014 is uncertain, there are still a number of end of year tax planning strategies...