4Thought Blog

10 Tips to Protect Yourself from Fraudulent Tax Filings

Fraudulent tax returns have reached troubling levels. The IRS has recently issued repeated warnings and tips to help protect taxpayers from fraudulent filings. The Morning Call last week wrote a Watchdog report on the many cases of tax identity theft with Turbo Tax and other self-filing tax programs. At Concannon Miller, we’ve always gone to…

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Discover Your Core Customer to Ignite Business Growth

Grow or die. Every business owner must understand this stark reality, according to Bob Bloom, author of “The Inside Advantage.” In today’s intensely competitive, technology-driven global marketplace, no enterprise – including yours – can be sustained without growth. Bloom, a marketing professional who has over 40 years of experience working with global companies such as Nestle down…

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Federal Government: Taxpayers Should be on 'High Alert' for Scams

The federal government this week urged taxpayers to remain on high alert from falling victim to criminals who impersonate Internal Revenue Service and Treasury employees this tax filing season. The Treasury Inspector General for Tax Administration receives thousands of reports every month involving individuals fraudulently claiming to be IRS officials making unsolicited calls and recorded…

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5 Tax Tips Every Beer Brewer Should Consider for Increased Cash Flow

Beer brewing requires a significant investment in equipment and supplies, but there are some great tax benefits brewers can receive for some of these purchases. There are other tax advantages just for manufacturing products – including beer! – in the United States and for selling your products in multiple states. Growing your sales beyond your state border…

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2016 Tax Season Opens; IRS Expects to Issue Refunds to 70 Percent of Taxpayers

For those eagerly awaiting your 2015 tax refund – the day you’ve been waiting for has arrived. Today is the first day you can file your 2015 tax return. For those not as eager – or are procrastinators – there’s good news. Taxpayers have until Monday, April 18 to file their 2015 tax returns due…

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McDonald's Owner/Operators Can Reap Benefits from Extended Work Opportunity Tax Credit

Among the many great business tax benefits Congress approved in December was an extension and expansion of the Work Opportunity Tax Credit. This credit is extremely beneficial to many McDonald’s Owner/Operators, and with the credit’s extension through Dec. 31, 2019, it allows for long-term tax planning. The Protecting Americans from Tax Hikes – or PATH…

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Millennials Can Benefit Greatly by Saving for Retirement Now

At this point in most millennials’ lives, the thought of retirement – and especially saving for retirement – probably doesn’t even crack the list of Top 10 priorities. With all the other immediate financial obligations – student loans, car payments, and possibly saving for a down payment on a house,  just to name a few…

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IRS Delays Some Affordable Care Act Requirements for Employers

The IRS this week granted a bit of a reprieve on some Affordable Care Act reporting requirements. The IRS has extended the deadline for providing Form 1095-C to full-time employees from February 1, 2016 to March 31, 2016. The deadline for filing the forms with the IRS also was extended from February 29, 2016 to…

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Gift Appreciated Assets to Family in Lower Tax Brackets – Year End Tax Tip

Just in time for a last-minute gift idea – a gift of stock or mutual fund shares to family members in lower tax brackets can provide tax savings for you. For 2015, the federal income tax rate on long-term capital gains and qualified dividends will remain 0 percent for taxpayers in the 10 and 15…

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Pay College Tuition Early For Tax Savings – Year End Tax Tip

Are you or any your children currently enrolled in college? If so, here’s a great tax tip you can take advantage of for some 2015 tax savings. If you qualify for the Lifetime Learning or American Opportunity credits but don’t have enough qualifying expenses to max out the credit for 2015, consider prepaying tuition bills…

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