July 9, 2019 / by Brett Hess / Uncategorized
If you’re a volunteer who works for charity, you may be entitled to some tax breaks if you itemize deductions on your tax return. Unfortunately, they may not amount to as much as you think your generosity is worth. Because donations to charity of cash or property generally are tax deductible for itemizers, it may […]
Read more
Accounting | Insurance | Financial Planning| Call us at 301.698.0795
The “nanny tax” must be paid for more than just nannies.
July 23, 2019 / by Brett Hess / Uncategorized
You may have heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a housekeeper, gardener or other household employee (who isn’t an independent contractor) may make you liable for federal income and other taxes. You may also have state tax obligations. If you employ a […]
Read more
You may have to pay tax on Social Security benefits
July 18, 2019 / by Brett Hess / Uncategorized
During your working days, you pay Social Security tax in the form of withholding from your salary or self-employment tax. And when you start receiving Social Security benefits, you may be surprised to learn that some of the payments may be taxed. If you’re getting close to retirement age, you may be wondering if your […]
Read more
Volunteering for charity: Do you get a tax break?
July 9, 2019 / by Brett Hess / Uncategorized
If you’re a volunteer who works for charity, you may be entitled to some tax breaks if you itemize deductions on your tax return. Unfortunately, they may not amount to as much as you think your generosity is worth. Because donations to charity of cash or property generally are tax deductible for itemizers, it may […]
Read more