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Marketplace Open Enrollment for 2017 health insurance is just around the corner, and whether you sign up for health insurance on healthcare.gov or through your state Marketplace, your local Dallas CPA is here to help guide you through the process. Whether you have had a change in life circumstance, are self-employed and need access to health insurance, or just shopping for an affordable plan,...

What better way to celebrate Fall than by saving some money? With the temperature beginning to drop, it’s time to start looking around the house for ways to save on energy costs. Take advantage of some great tax credits and deductions for energy-efficient purchases. The Residential Energy Efficient Property Tax Credit offers you some major tax breaks when it comes to purchasing qualifying...

Organizations across the country are responding to the U.S. Department of Labor’s new overtime salary threshold by reclassifying some of their exempt employees into overtime-eligible nonexempts. Starting Dec. 1, the new DOL rules take effect that nearly double the salary threshold at which most salaried workers become exempt from having to be paid overtime. The overtime ceiling will rise from...

The Internal Revenue Service has announced it’s new debt collection program and that it plans to begin private collection of certain overdue federal tax debts next spring and has selected four contractors to implement the new program. The new program, authorized under a federal law enacted by Congress last December, enables these designated contractors to collect, on the government’s behalf,...

The Internal Revenue Service and its Security Summit partners have issued an alert to taxpayers to be on guard against fake emails purporting to contain an IRS tax bill related to the Affordable Care Act. The IRS has received numerous reports around the country of scammers sending a fraudulent version of CP2000 notices for tax year 2015. Generally, the scam involves an email that includes the...

Did You File a Tax Extension? File Now to Get Your Health Insurance Advanced Premium Tax Credit Did you apply for an extension of time to file your 2015 federal taxes and receive an advanced premium tax credit to help you pay for your 2016 health insurance? If the answer is yes, the IRS urges you to file your 2015 taxes as soon as possible, in order to receive a timely advanced premium tax credit...

Did you know that not everyone or every dollar earned is taxed the exact same amount? This is because the United States tax system aims to be progressive. A progressive tax system tries to collect more tax from those who earn more. In essence, a million dollar earner pays more total tax as well as a higher percentage of their income in tax than someone who earns far less. One of the ways our tax...

Self-employment can be hard, but if it was easy, everyone would do it, right? In an attempt to lighten your load and ease your burden, whether you are just trying to make the October 17 tax extension deadline, figuring out estimated taxes, or are gearing up for next tax season, take a look at these six tax tips for the self-employed and some of the most missed tax deductions. Work Expenses and...

The Internal Revenue Service today issued a warning of 2017 tax refund delays for certain taxpayers, urging folks to adjust their tax withholding now. We’re talking about your 2016 taxes that are due April 15, 2017. There’s good reason to pay attention—at least there’s something you can do about it. A couple things are to blame. First, a new tax law effective next year requires the IRS to hold...

As a business owner, you probably thrive in a DIY environment; but the more hats you wear, the less you’ll accomplish successfully. Accounting is one of the most important areas for keeping your company profitable. As you start out and your company grows, software can only take you so far. A CPA can help your company move forward. Below are reasons why your business needs a CPA in all stages of...