IRS Announces Per Diem Rates for Business Travelers

Travel expenses are deductible to the extent they are considered business expenses. The Internal Revenue Service defines business expenses as, those that are ordinary and necessary expenses of traveling away from home for your business, professions, or job. If you are eligible for rei

Missouri Use Tax

The State of Missouri, along with other states, imposes a use tax on businesses for purchases of tangible products purchased without sales tax. Common examples of purchases where use tax would be due include purchases from internet sellers/sites and purchases from out of state retaile

Backdoor Roth IRA

Everyone knows saving for your retirement is important. One attractive option is the Roth IRA. Contributions to a Roth IRA are not deductible in the year they are made as traditional IRAs, but they grow tax free and will not be taxed in retirement when distributions are taken. For 201

Required Minimum Distributions

Qualified retirement plans are intended to provide income to participants when they reach retirement age. Required minimum distributions (RMDs) are the distributions that must be made from the retirement plan in order to meet regulations and avoid significant penalties. The IRS requir

Child and Dependent Care Tax Credit

Being a parent can be stressful, both on you and your wallet. Managing parenthood and work can be quite a challenge. While the various expenses may be troublesome to balance, you can thank the IRS for the Child and Dependent Care Tax Credit, and plan to make the most out of it. Here a