Changes to the federal income tax code can prompt you to review the legal structure of your business. Last year’s increase in the top tax rate for individuals is one such change, since corporate rates remain the same. At the most basic level, businesses are taxed as either stand-alone or pass-through entities, and a significant difference between corporate and individual tax rates is reason for a new assessment. If you’re debating between operating as a C

The IRS has announced the inflation-adjusted contribution limits for health savings accounts (HSAs) for 2015. HSAs allow taxpayers with high-deductible health insurance plans to set aside pretax dollars that can be withdrawn tax-free to pay unreimbursed medical expenses. The 2015 contribution limit for individuals is $3,350; the limit for family coverage is $6,650. A catch-up contribution of an additional $1,000 is permitted for individuals who are 55 or older.

September 15 – Third quarter installment of 2014 individual estimated income tax is due. September 15 – Filing deadline for 2013 tax returns for calendar-year corporations that received an automatic extension of the March 17 filing deadline. September 15 – Filing deadline for 2013 partnership tax returns that received an extension of the April 15 filing deadline. October 1 – Generally, the deadline for businesses to adopt a SIMPLE retirement plan for 2014. October 15 –

Seniors are a favorite target of scam artists. According to one survey, seniors over the age of 60 have lost nearly $3 billion a year to financial fraud. Here are a few of the tactics used to bilk seniors of their money. Advanced fee to claim winnings. The target victim is told he’s won something and just needs to send money to cover fees, insurance, or whatever to claim the prize. Computer virus scam. The caller

There are several questions you must answer before you even consider starting a new business. Unfortunately, some would-be-entrepreneurs spend more time planning their summer vacation than they do the start of a new business. Most of these businesses will fall into the three out of five start-ups that fail in the first five years. The statistics vary from industry to industry, but about 30% of new business start-ups close down in the first year of operation.

Do you live with a disability, or care for someone who does? If so, you may have disability-specific tax questions about income, deductions, and credits. Here’s an overview. ■     Income. In general, all income is taxable on your federal tax return, unless specifically excluded. For instance, income you earn for services is typically taxable, even if you are disabled. Part of your social security disability benefits may also be taxable, depending on your total income (including

July 31 is the deadline for filing 2013 retirement or employee benefit returns (5500 series) for plans on a calendar year.

There are many ways to make your business more profitable, and sound credit policies are high on the list. Keep the following items in mind as you review your company’s policies. Don’t be so eager to sign on new customers that you neglect to check out their credit history. Take the time to check references, and obtain a credit report to see how they’ve handled other financial transactions. Establish collection policies and follow up promptly on

Why should your small business care about getting protection for your intellectual property? Many very successful medium to large businesses started out small. Their patents, trademarks, and copyrights are keeping others from infringing on their markets. The search and registration for these legal protections might also let you know whether or not you are infringing on others’ rights before you invest time and money in a name, product, or process. Patent. A patent for your invention

Ask the typical summer bride and groom what’s included in the wedding plans, and they probably won’t mention a thorough tax review. Yet, the tax and financial aspects of getting married are not to be taken lightly. Consider the following issues: ■     Tax penalties. Marriage causes many tax regulations to take effect retroactively; that is, if you are married as of December 31, some rules apply as if you were married for the entire year. For