Our network

Business

Winter Market on Hertel Seeks Vendors for Upcoming Season

Winter Market on Hertel Seeks Vendors for Upcoming Season

 

Vendors are currently being sought for the second annual Winter Market on Hertel to take place in the 3,000-square-foot home of The Pasta Peddler and Blackbird Sweets, located at 1547 Hertel Ave., Buffalo. The 16-week market will begin on Dec. 5 and continue through April 2. Market hours will be from 10 a.m. to 2 p.m. Saturdays.

Moving Expense Deduction

If you move your home you may be able to deduct the cost of the move on your federal tax return next year. This may apply if you move to start a new job or to work at the same job in a new location. In order to deduct your moving expenses, your move must meet three requirements:

1. Your move must closely relate to the start of work.  In most cases, you can consider moving expenses within one year of the date you start work at a new job location. Additional rules apply to this requirement.

2. Your move must meet the distance test.  Your new main job location must be at least 50 miles farther from your old home than your prior job location. For example, let’s say that your old job was three miles from your old home. To meet this test, your new job must be at least 53 miles from your old home.

Get Tax Help with Social Media

Whether you use social media to blog, share photos or socialize, you can also use it to connect with the IRS.  You can check on your tax refund, learn the latest tax news, or get helpful Tax Tips on how to do your taxes. Here are some of the ways you can use IRS social media to get tax help:

Eight Things to Know about the Taxpayer Advocate Service

 

1. TAS is Your Voice at IRS. The Taxpayer Advocate Service, or TAS, is your voice at the IRS. We are an independent organization within the IRS.

2. TAS Helps Resolve Problems. TAS helps individuals, businesses and exempt organizations who are not able to resolve their tax problems with the IRS. Our service is always free. TAS can help if:

  • Your problem is causing financial difficulty for you, your family, or your business.
  • You, your business or your organization is facing an immediate threat of adverse action.
  • You have tried repeatedly to contact the IRS but no one has responded. We will also help if the IRS has not responded by the date promised.

3. Taxpayer Bill of Rights. The IRS has adopted a Taxpayer Bill of Rights that includes 10 basic rights that every taxpayer has when interacting with the IRS:

IRS Tax Tips for Starting a Business

 

When you start a business, a key to your success is to know your tax obligations. You may not only need to know about income tax rules, but also about payroll tax rules. Here are five IRS tax tips that can help you get your business off to a good start.

1. Business Structure. An early choice you need to make is to decide on the type of structure for your business. The most common types are sole proprietor, partnership and corporation. The type of business you choose will determine which tax forms you will file.

Back-to-School Education Tax Credits

 

If you, your spouse or a dependent are heading off to college in the fall, some of your costs may save you money at tax time. You may be able to claim a tax credit on your federal tax return. Here are some key IRS tips that you should know about e tax credits:

American Opportunity Tax Credit. The AOTC is worth up to $2,500 per year for an eligible student. You may claim this credit only for the first four years of higher education. Forty percent of the AOTC is refundable. That means if you are eligible, you can get up to $1,000 of the credit as a refund, even if you do not owe any taxes.

Lifetime Learning Credit. The LLC is worth up to $2,000 on your tax return. There is no limit on the number of years that you can claim the LLC for an eligible student.

Employers Providing Self-Insured Health Coverage Must Report on Information Returns

 

This tax tip is updated to clarify that self-insured employers that are not applicable large employers, those with fewer than 50 full-time or full-time equivalent employees in the preceding calendar year, should file Form 1095-B. Self-insured employers that are applicable large employers should report health coverage information on Form 1095-C. This tip does not apply to information reporting on health care coverage of individuals who are not employees or entitled to coverage because of a relationship to an employee.

All providers of health coverage, including employers that provide self-insured coverage, must file annual returns with the IRS reporting information about the coverage and about each covered individual. Insurance Companies must report on coverage under employer plans that are insured.