
Tax Resources+
A helpful toolbox at your fingertips.
From tax forms and tax organizers to business and personal toolkits, our list of resources will give you more on key topics. Look them over or contact us to find out how we can help answer your questions.
Important Business Tax Update
Responding to a noted increase in identity theft involving business-related tax returns, the IRS will be asking tax professionals to gather more information on their business clients for the 2018 filing season. For 2017 business returns filed in 2018 (including Trusts, Estates, and K-1 Partnerships), your preparer may be required to gather any of the following data:
- The name and Social Security Number of the company individual authorized to sign the return
- Estimated tax payment history (when were they made, how were they made, and how much was paid)
- Potential parent company information
- Additional information based on deductions claimed
- Filing history (Form(s) 940, 941 or other business related tax forms)
We welcome you to contact Henry & Peters with any questions you may have.
The Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act passed both the House and Senate on Wednesday, December 20. This historic tax reform contains numerous provisions that that could have significant impacts to taxpayers. You can find relevant information below on how this tax reform may affect you. Please contact our professionals with any questions you may have.
Looking for a federal tax form? Browse this online tax forms library to find downloadable IRS forms. The forms are presented in PDF format and are acceptable for filing with the IRS. You may also choose from dozens of helpful tax publications developed by the IRS to help taxpayers have a better understanding of various tax issues. Available in PDF format, these publications are written in a plain language format geared specifically to taxpayers.
A tax organizer can facilitate the process of pulling together your tax information. This basic tax organizer is designed for new clients and allows you to enter your information right on the screen. You can then print the completed tax organizer and fax or mail it to the office. Current clients should contact the office to request a “proforma” tax organizer that includes prior year information and carryover data.
Looking for a federal tax form? Browse this online tax forms library to find downloadable IRS forms. The forms are presented in PDF format and are acceptable for filing with the IRS. You may also choose from dozens of helpful tax publications developed by the IRS to help taxpayers have a better understanding of various tax issues. Available in PDF format, these publications are written in a plain language format geared specifically to taxpayers.
Newsletters
President Biden is looking to add $2.1 billion more to the Department of the Treasury budget over 2023 enacted levels, an increase that would give the agency $16.3 billion in discretionary budget authority, with the majority of those funds earmarked for the Internal Revenue Service.
“To ensure that taxpayers receive the highest quality customer service and that all Americans are treated fairly by the U.S. tax system, the Budget provides a total of $14.1 billion for the IRS, $1.8 billion, or 15percent, above the 2023 enacted level,” the White House stated in the budget document released on March 9, 2023.
On the same day, the Treasury Department released the so-called “Greenbook” which outlines the administration’s revenue proposals for Fiscal Year 2024.
Adding some additional details, the budget document noted that the IRS budget includes “an increase of $642 million to improve the taxpayer experience and expand customer service outreach to underserved communities and the entire taxpaying public,” the document states, adding that $290 million will be allocated to information technology modernization.
The budget document also notes that in “addition to the annual discretionary funding, the Budget proposes to maintain deficit reducing Inflation Reduction Act-funded initiatives in 2032 and beyond. This proposal builds on decades of analysis demonstrating that program integrity investments to enforce existing tax laws and increase revenues in a progressive way by closing the tax gap—the difference between taxes owed and taxes paid.”
Tax Policy Highlights
The budget document notes that spending within the overall budget will be offset “by tax reforms to ensure that the wealthiest Americans and multinational corporations pay at least a minimum tax rate and reforming taxation of stock buybacks,” which is expected to reduce the deficit by $1.17 trillion during the next decade.
On the corporate side, the document states it plans to raise the corporate income tax rate to 28 percent.
The budget also notes that it will invest “in working families, by cutting taxes for working people and families with children, providing paid leave, and improving home care.”
President Biden is proposing in the budget to restore “and make permanent the American Rescue Plan expansion of the Earned Income Tax Credit for workers without qualifying children,” as well as other tax provisions, including:
- Providing a neighborhood homes credit;
- Expanding and enhancing the low-income housing credit;
- Expanding the child credit, and making permanent full refundability and advanceability;
- Making the adoption tax credit refundable and allowing certain guardianship arrangements to qualify; and
- Making permanent the income exclusion for forgiven student debt.
The Greenbook also provides some additional clarity on the tax policy proposals. The Biden Administration once again will be seeking the implementation of a billionaire minimum tax of 25 percent, targeted at the wealthiest 0.01 percent of individuals to ensure they are paying their fair share of taxes.
The budget also includes health-related tax policy proposals, including the closure of Medicare tax loopholes and increasing the Medicare tax and the Net Investment Income Tax rate by 1.2 percentage points above $400,000 for a total Medicare tax rate of 5 percent on high-income taxpayers. It also looks to expand tax credits for health insurance premiums.
The IRS has offered tips to taxpayers who received an incorrect Form 1099-K, Payment Card and Third-Party Network Transactions or received one of these forms in error. 2022 transactions were reported on the form taxpayers received by January 31, 2023. If the information on the form is incorrect or wrong, taxpayers are directed to contact the issuer of the Form 1099-K immediately. The issuer’s name appears in the upper left corner on the form along with their phone number. Further, taxpayers should keep a copy of all correspondence with the issuer for their records.
If taxpayers can’t get a corrected Form 1099-K, they should report the information on Schedule 1 (Form 1040), Additional Income and Adjustments to Income, as follows:
- Part I – Line 8z – Other Income – Form 1099-K Received in Error.
- Part II – Line 24z – Other Adjustments – Form 1099-K Received in Error.
The net effect of these two adjustments on adjusted gross income would be $0.
Personal Item Sold at Loss
If a taxpayer receives a Form 1099-K for a personal item sold at a loss, report the information on Schedule 1 with offsetting transactions. The net effect of these two adjustments on adjusted gross income would be $0.
Personal Item Sold at Gain
If a taxpayer sells an item owned for personal use, they should report the gain as any other capital gain on Form 8949, Sales and other Dispositions of Capital Assets, and Schedule D (Form 1040), Capital Gains and Losses.
Mix of Personal Items Sold
If a taxpayer sold an item owned for personal use at a gain, see Personal items sold at a gain for information on how to report. For personal items sold at a loss, follow the instructions for Personal items sold at a loss.
New Reporting Threshhold
The IRS announced that the new Form 1099-K reporting threshold will start in tax year 2023.
- The old threshold was $20,000 and 200 transactions per year. This applies to tax year 2022 and prior years.
- The new threshold is more than $600. This applies to tax year 2023 and future years.
The IRS has provided relief that permits taxpayers affected by the Coronavirus Disease 2019 (COVID-19) emergency who had a return filing due date postponed by Notice 2020-23, I.R.B. 2020-18, 742, or Notice 2021-21, I.R.B. 2021-15, 986, who did not receive an extension of time for filing such return, and who file timely credit or refund claims, to be credited or refunded amounts deemed paid on April 15 of each year.
Among other things, Notice 2020-23 postponed certain federal tax return filing and payment obligations that were due to be performed on or after April 1, 2020, and before July 15, 2020, to July 15, 2020. Notice 2021-21 postponed the due date for both filing Form 1040 series returns with an original due date of April 15, 2021, and making federal income tax payments in connection with one of these forms, to May 17, 2021.
Under Code Sec. 6511, a taxpayer must file a refund or credit claim within three years from the time the taxpayer’s return was filed, or two years from the time the tax was paid, whichever period expires later. Under Code Sec. 6511(b)(2), the credit or refund amount is limited to the amount of tax paid within a specified period immediately preceding the filing of the refund or credit claim (the “lookback period“). When a taxpayer files a claim within three years of filing the return, the lookback period is three years plus the period of any extension of time for filing the return. Otherwise, the lookback period is two years.
While Notice 2020-23 and Notice 2021-21 postponed certain return filing due dates, they did not extend the time for filing the returns because a postponement is not an extension. As a result, the postponements did not lengthen the lookback periods.
Relief for Determining Lookback Period
The relief applies for determining the credit or refund amount on the tax for which the return filing or payment due date was postponed:
- For any person with a federal tax return filing or payment obligation that was postponed by Notice 2020-23 to July 15, 2020, the period beginning on April 15, 2020, and ending on July 15, 2020, will be disregarded in determining the beginning of the lookback period.
- For any person with a filing or payment obligation for a Form 1040 series federal income tax return that was postponed by Notice 2021-21 to May 17, 2021, the period beginning on April 15, 2021, and ending on May 17, 2021, will be disregarded in determining the beginning of the lookback period.
The relief is automatic, so affected taxpayers do not have to call the IRS, file any form, or send letters or other documents to receive the relief.
The IRS has issued final regulations for filing certain returns and other documents electronically (e-file). The regulations affect persons required to file returns for partnerships, corporations, unrelated business income tax, withholding, excise taxes, as well as information returns, disclosure statements, and other documents. The electronic filing requirements generally apply to applicable returns and documents required to be filed beginning in 2024, except for returns of tax-exempt organizations which apply to tax years beginning after July 1, 2019.
Electronic Filing
The final regulations generally adopt the proposed regulations issued in 2021 for electronic filing under the following Code Section:
- Code Secs. 1474, 6011, 6012, 6033, 6057, 6058, and 6059 for determining whether applicable returns and documents must be filed electronically,
- Code Sec. 6011 for reporting certain excise taxes,
- Code Secs. 1461 and 1474 for withholding income taxes on U.S. source income of foreign persons,
- Code Secs. 6045 and 6050M for certain broker reporting and federal agency contracts, and
- Code Sec. 6050I for reporting financial transactions in cash exceeding $10,000.
Like the 2021 proposals, the final regulations generally require e-filing by taxpayers other than individuals if, during the calendar year, they are required to file 250 or more returns. The final rules also eliminate the e-filing exception for income tax returns of corporations that report total assets under $10 million at the end of their taxable year. Partnerships with more than 100 partners are required to e-file information returns, and they require partnerships required to file at least 10 returns of any type during the calendar year to e-file their partnership return.
Information Returns
Under Code Sec. 6011(e) and related regulations, filers are already required to file information returns and statements electronically if, during a calendar year, they are required to file 250 or more returns. The 2021 proposed regulations would have reduced the applicable threshold to 100 or more returns for returns required to be filed during 2022 and 10 or more returns for returns required to be filed after calendar year 2022.
Because the final regulations are not applicable until calendar year 2024, the proposed electronic-filing thresholds of 100 and 10 returns, respectively are not adopted. Instead, the electronic-filing threshold for information returns required to be filed in calendar years 2022 and 2023 remains at 250. However, the final regulations adopt the electronic-filing threshold of 10 for returns required to be filed on or after January 1, 2024.
In addition, the final regulations adopt the proposed rule without any change that if a person is required to file original information returns electronically, that person must file any corresponding corrected information returns electronically.
Waivers and Exemption
Many of the regulations imposing electronic-filing requirements also provide a waiver from electronic filing to any person who establishes undue hardship. The final regulations adopt several changes in reviewing waiver requests, noting that costs to a taxpayer will only be one factor. The Treasury and IRS anticipate providing additional details on the specific hardship-waiver procedures for each form affected by the final regulations, including exemptions for taxpayers whose religious belief conflict with the electronic filing requirement. The final regulations do not provide for waivers and exemptions in all circumstances or for all tax forms required to be electronically filed.
The Financial Crimes Enforcement Network (FinCEN) has published its first set of guidance materials to aid the public, and especially the small business community, in understanding the beneficial ownership information (BOI) reporting requirements which will take effect on January 1, 2024.
The Corporate Transparency Act (CTA) established uniform BOI reporting requirements for certain types of corporations, limited liability companies, and other similar entities created in or registered to do business in the United States. New FinCEN regulations require these entities to report to FinCEN information about their “beneficial owners”—the persons who ultimately own or control the company.
In an effort to make the process as simple as possible, particularly for small businesses who may have never heard of or interacted with FinCEN before, FinCEN has placed several items on its BOI reporting webpage (https://www.fincen.gov/boi), including:
- answers to Frequently Asked Questions about the reporting requirement;
- a Key Filing Dates document;
- a one-page document covering a few Key Questions on the BOI requirement;
- a link to an introductory video; and
- a link to a more detailed video about the BOI requirement.
In the coming months, FinCEN expects to publish additional guidance on the BOI webpage, including a Small Entity Compliance Guide.
The American Institute of CPAs is suggesting a series of frequently asked questions for the Internal Revenue service to post and answer on its website regarding the new digital asset question that appears on the 2022 Form 1040.
The 2022 Form 1040 asks the following yes/no question: “At any time during 2022, did you (a) receive (as a reward, award, or payment for property or services); or (b) sell, exchange, gift, or otherwise dispose of a digitalasset (or a financial interest in a digitalasset)?”
In a February 17, 2023, letter to the agency, AICPA identified 12 questions and offered recommended responses to those questions that the IRS could include on its website to guide taxpayers on how to answer the digital asset question. Among the questions the organization is recommending the IRS answer are:
- What is a digital representation of value?
- What is a cryptographically secured distribution ledger as used in the Form 1040 question?
- How do I determine if my digital asset is recorded on a cryptographically secured distributed ledger?
- What is considered “similar technology” to a cryptographically distributed ledger?
- What are the “characteristics of a digitalasset“ as that term is used in the 2022 Form 1040 instructions?
- Does a “yes” answer to the 2022 Form 1040 digital asset question mean that I have tax consequences from digital asset transactions that should be reported on my 2022 Form 1040?
AICPA sent the letter in hopes that “IRS will consider posting these or similar FAQs on the website for this 2022 tax return filing season and that the 2023 Form 1040 instructions will be modified for next year to provide greater certainty to taxpayers and their preparers in confidently and properly complying with the question and overall requirements for digitalasset,” the letter states.
A copy of this letter can be found with all of AICPA’s tax policy and comment letters here.
The IRS added widely circulating promoter claims involving Employee Retention Credits (ERC) as a new entry in the annual Dirty Dozen list of tax scams. These promotions can be based on inaccurate information related to eligibility for and computation of the credit. Eligible taxpayers can claim the ERC on an original or amended employment tax return for qualified wages paid between March 13, 2020 through December 31, 2021.
“The aggressive marketing of these credits is deeply troubling and a major concern for the IRS,” said IRS Commissioner Danny Werfel. “Businesses need to think twice before filing a claim for these credits. While the credit has provided a financial lifeline to millions of businesses, there are promoters misleading people and businesses into thinking they can claim these credits. People should remember the IRS is actively auditing and conducting criminal investigations related to these false claims. We urge honest taxpayers not to be caught up in these schemes,” he added.
Further, abusive ERC promotions highlight day one of the IRS annual Dirty Dozen campaign. These are a list of 12 scams and schemes that put taxpayers and the tax professional community at risk of losing money, personal information, data and more. Finally, more information can be found here.
The U.S. Government Accountability Office is offering recommendations to close the tax gap, a move it says could yield large fiscal benefits even if there is only a modest narrowing of the gap between what is paid and what is owed.
In a “snapshot” report issued February 27, 2023, the GAO cited Internal Revenue Service-reported figures for the years 2014-2016 that show taxpayers owed $3.3 trillion in taxes but paid only $2.8 trillion. GAO analysis of IRS data attributes the gap to three key factors: underreporting ($398 billion); underpayment ($59 billion); and nonfiling ($39 billion).
GAO reported a number of factors that have contributed to the tax gap, including limited third-party information reporting, declines in audit rates, worsening customer service and the complexities of the tax code. It also noted that abusive tax shelters also play a role in contributing to the tax gap. The report did not quantify how much these factors contributed to the tax gap.
“Our work shows there are no easy ways to reduce the taxgap,” the report states. “Multiple approaches are needed to address the many causes of tax noncompliance.”
The government watchdog recommends that the IRS re-establish quantitative goals to reduce the tax gap; expand third-party information reporting; digitize taxpayer returns to make them more readily available to enforcement programs; and make it easier for individuals to report preparers and promoters involved in abusive tax schemes.
It also is recommending that Congress give the IRS explicit authority to establish professional requirements for paid preparers; expand third-party reporting requirements related to real estate; expand IRS authority to correct errors and discrepancies between taxpayer reported and other government collected information; and requiring paper returns include a scannable code to allow information to be processed digitally.
The GAO did not quantify how much benefit the federal government could get with even a modest reduction in the tax gap.
Panelists convened to testify before the Senate Finance Committee called for enhancements of the low income housing tax credit as a means of making real estate more available and affordable.
During a March 7, 2023 hearing, Denise Scott, president of Local Initiatives Support Corporation, testified that the credit “has been responsible for the production of most of the affordable housing, and more than 50 percent of the households in tax credit properties are extremely low income families.”
An overview of various tax policies was prepared for the hearing by the Joint Committee on Taxation and can be found here.
She suggested Congress could “spur the creation of over 2 million more rental units over the next decade by restoring the 12.5 percent increase to the formula for the allocated tax credits.” That increase was enacted in 2018 but expired in 2021.
Sharon Wilson Geno, president of the National Multifamily Housing Council, recommended that the low income housing tax credit be expanded to capture more middle class families and build “off of the success of the low income housing tax credit.”
However, Mark Calabria, senor advisor at the Cato Institute, urged a little restraint when it comes to using tax policy to stimulate the housing market.
“Most indicators suggest that rents would decline over the next 12-to-18 months,” he testified before the committee. “So, I would just urge some cautiousness to thinking about adding stimulus to additional construction at a time when we are likely passing the peak of the cycle.”
Wilson Geno said that the private market “simply cannot afford to provide housing in the amounts we need it in the lowest income tiers, and also the middle-income tier. So those tax incentives are incredibly useful.”
Calabria also cautioned about offering any additional credits that are focused on the demand side of housing equation.
“We need to be cautious about adding demand subsidies that simply run up prices, which is how we’ve gotten the inflationary pressures we face today,” he said.
Department of the Treasury Secretary Janet Yellen was noncommittal on the idea of trading a permanent child tax credit for the elimination of the state and local tax deduction.
Yellen was faced with this question during a March 16, 2023, Senate Finance Committee hearing convened to discuss the Biden Administration’s proposed budget for fiscal year 2024 and the corresponding so-called “Greenbook,” which outlines proposed changes to tax policy that in total reflect how the government plans to pay for changes to the overall budget.
Sen. Steve Daines (R-Mont.) noted that the White House budget proposal increases the child tax credit from $2,000 to $3,600 and makes it fully refundable and deliverable on a monthly basis.
“However, I see they didn’t make that change permanent,” Sen. Daines said, adding that increase would expire in 2025. “My question is this: does the President believe that the child tax credit should be made permanent for $3,600? And if so, are you willing to eliminate the SALT deduction, which overwhelmingly benefits the wealthy, to give working families an expanded child tax credit that, importantly, never ends?”
Yellen explained that the reason for the proposed expanded tax credit expiring in 2025 is due to other provisions in the Tax Cuts and Jobs Act that will expire in 2025 that affect the child tax credit.
“And then there will need to be consideration of what to do,” Yellen said, while offering no explicit comment on the desire to make the child tax credit permanent and not addressing at all the possibility of making the CTC permanent while at the same time eliminating the SALT deduction.
One point Yellen was challenged on was on the promise that there would be no increases in taxes on individuals and corporations making less than $400,000. Sen. Todd Young (R-Ind.) suggested that President Biden would not be able to keep that promise based on provisions in the Tax Cuts and Jobs Act that would sunset in or after 2025.
“Well, there certainly are aspects of the TCJA that, if they sunset, would impact households [with] taxpayers earning under $400,000,”” Yellen testified. “And the President has, as you mentioned, pledged he doesn’t want to see taxes raised by a penny on anyone making under that. He stands ready to work with Congress.”
However, when pressed further to provide a list of those sunsetting provisions that could push taxes higher for taxpayers making under $400,000, Yellen said that “I don’t know that I can provide you with that. I think there are a lot of complicated provisions.” She declined to commit to providing the information within the two-week time frame that Sen. Young asked for, but pledged to work with the committee to provide the information.
A Mirror Of Previous Testimony
For the questions that covered the budget, the committee touched on many of the same subjects and asked similar questions of Yellen that the House Ways and Means Committee did on March 10, 2023, although conversations about the budget at times took a back seat to discussion on the recent bank failures and the government’s response to it as well as the looming need to address the debt ceiling.
When the budget was discussed, Yellen promoted the improvements to customer service, noting that the Internal Revenue Service has answered “hundreds of thousands” of more call calls this tax season than at the same point last year. She also pushed the Biden Administration’s targeting of the highest earning taxpayers, both individual and corporate, to get them to pay their fair share.
Yellen also reiterated the defense of the United States’ participation in the Organisation for Economic Co-operation and Development’s work on building a framework for implementing a global corporate minimum tax structure. She did emphasize that any agreement would not violate existing tax treaties between the United States and other individual countries, although there was pushback on whether that was accurate.
She also promoted the provisions in the Greenbook that will help close the housing supply gap, noting the budget has provisions to make to make rent and ownership more affordable.
Yellen also said the IRS plan to spend the $80 billion that was allocated to agency in the Inflation Reduction Act would be ready in the coming weeks.
The U.S. Supreme Court has ruled that the $10,000 maximum penalty under the Bank Secrecy Act (BSA) for the nonwillful failure to file a compliant Report of Foreign Bank and Financial Accounts (FBAR) accrues on a per-report, not a per-account, basis. This ruling settles a split in authority between the Ninth Circuit (J. Boyd, CA-9, 2021-1 ustc ¶50,112) and the Fifth Circuit (A. Bittner, CA-5, 2021-2 ustc ¶50,242).
Background
U.S. citizens and residents must keep records and/or file reports when the person makes a transaction or maintains a relation for any person with a foreign financial agency (31 USC 5314). Each person with a financial interest in a financial account in a foreign country must report the relationship to the IRS for each year the relationship exists by providing specified information on and filing the FBAR. The FBAR generally must be filed by June 30 of each calendar year for foreign financial accounts over $10,000 maintained during the previous calendar year (31 C.F.R. 1010.350, 1010.306). If the person fails to file the FBAR, the IRS can impose a penalty of up to $10,000 for nonwillful violations, unless the violation was due to reasonable cause (31 USC 5321).
Here, the taxpayer nonwillfully failed to report his interests in multiple foreign bank accounts on annual FBAR forms for several years. The government assessed $2.72 million in civil penalties against the taxpayer: $10,000 for each unreported account each year for five years. The district court found the taxpayer liable and denied his reasonable cause defense, but reduced the assessment to $50,000 because it determined that the $10,000 maximum penalty attached to each failure to file an annual FBAR, not to each failure to report an account.
The Fifth Circuit ruled that the text, structure, history, and purpose of the relevant statutory and regulatory provisions showed that the “violation” of 31 USC 5314 contemplated by the 31 USC 5321 penalty was the failure to report a qualifying account, not the failure to file an FBAR. Therefore, the $10,000 penalty cap applied on a per-account basis, not a per-report basis.
FBAR Penalty Per Report
In the majority opinion by Justice Gorsuch, the Court determined that 31 USC 5314, which delineates an individual’s legal duties under the BSA, does not mention accounts or their number, but instead addresses the legal duty to file reports which must include various kinds of information about an individual’s foreign transactions or relationships. Further, 31 USC 5321 authorizes the Treasury Secretary to impose a civil penalty of up to $10,000 for “any violation” of section 5314. The nonwillful penalty provision in section 5321 does not speak in terms of accounts or their number, but instead pegs the quantity of nonwillful penalties to the quantity of violations. While multiple deficient reports may yield multiple $10,000 penalties, and even a simple deficiency in a single report may expose an individual to a $10,000 penalty, the Court ruled that the penalties for nonwillful violations accrue on a per-report basis, not a per-account basis. Also, while section 5321 does tailor penalties to accounts for certain cases that involve willful violations, Congress did not say in section 5321 that the government may impose nonwillful penalties on a per-account basis.
The Court found other contextual clues that cut against the government’s arguments. First, the government’s guidance to the public in various warnings, fact sheets, and instructions seemed to tell the public that the failure to file a report represented a single violation exposing a nonwillful violator to one $10,000 penalty. Also, when Congress amended the law in 2004 to authorize penalties for nonwillful violations, it did not apply language from previous amendments to willful penalties to authorize per-account penalties for nonwillful violations.
The Court also observed that other features of the BSA and its regulatory scheme suggested that the law aimed to provide the government with a report sufficient to tip it to the need for further investigation, not to ensure the presentation of every detail or maximize revenue for each mistake. Finally, the Court stated that the government’s per-account penalty reading of the statute invited anomalies, such as subjecting willful violators to lower penalties than nonwillful violators, that are avoided by reading the nonwillful penalty to apply on a per-report basis.
The Court concluded that, best read, the BSA treats the failure to file a legally compliant report as one violation carrying a maximum penalty of $10,000, not a cascade of such penalties calculated on a per-account basis.
Dissenting Opinion
Justice Barrett’s dissent (joined by Justices Thomas, Sotomayor, and Kagan) stated that the most natural reading of the statute establishes that each failure to report a qualifying foreign account constitutes a separate reporting violation, so the government can levy penalties on a per-account basis.
Calculators
Should I refinance my mortgage? How much do I need to save for my child’s college education? As accounting professionals, these are some of the questions that are posed to us on a daily basis. We are providing these interactive financial calculators and other tools to assist you with some of the day-to-day questions and concerns that may arise. While these financial tools are not a substitute for financial advice from a qualified professional, they can be used as a starting point in the decision making process.
Auto Loan Early Payoff | Find out how much interest you can save by increasing your monthly auto loan payment. |
Auto Rebate vs. Low Interest Financing | Use this calculator to help you determine whether you should take advantage of low interest financing or a manufacturer rebate. |
Auto Refinance Interest Savings | Use this calculator to see how much interest you can save by refinancing your auto loan. |
Bi-weekly Payments for an Auto Loan | This calculator shows you possible savings by using an accelerated bi-weekly payment on your auto loan. This simple technique can shave time off your auto loan and could save you hundreds or even thousands of dollars in interest. |
Bi-weekly Payments for an Auto Loan with Fees | This calculator shows you possible savings by using an accelerated bi-weekly payment on your auto loan. This simple technique can shave time off your auto loan and could save you hundreds or even thousands of dollars in interest. |
Car Loan Calculator | Determine your car loan payment based on your purchase price or find out how much you can buy based on your monthly payment. |
Dealer Financing vs. Credit Union Financing | Use this calculator to help you determine whether you should take advantage of low interest dealer financing or credit union financing combined with a manufacturer rebate. |
Home Equity Loan vs. Auto loan | Use this calculator to determine if a home equity loan makes sense for your next automobile purchase. |
Lease vs. Buy | Should you lease your next automobile or finance it? Find out with this calculator! |
Low Interest Financing Savings | Low, promotional interest rates can save you a great deal of money when you finance your car or truck. Use this calculator to help find the best monthly payment and how much interest you could save. |
Accelerated Debt Payoff | Consolidating your debt is only half of the battle. You still need a plan to get your debt paid in full. This calculator can show you how to accelerate your debt payoff. |
Consolidation Loan Investment Calculator | Getting a consolidation loan can do more than payoff your debt. Use this calculator to see the results of paying off your debt and investing your payment savings. |
Cost-of-Debt Calculator | Use this calculator to see just how expensive paying interest on your debt can be. |
Credit Card Minimum Payment Calculator | Use this calculator to determine how long it will take you to payoff your credit cards if you only make the minimum payments. |
Credit Card Optimizer | The Credit Card Optimizer helps you determine the best distribution of your credit card debt. |
Credit Card Pay Off | Use this calculator to see what it will take to pay off your credit card balance, and what you can change to meet your repayment goals. |
Home Equity Debt Consolidation | This calculator is designed to help determine whether using your home equity to consolidate your debt is right for you. |
How much do you owe? | Use this calculator as a starting point for your debt management plan. |
Personal Debt Consolidation | Should you consolidate your debt? This calculator is designed to help determine if debt consolidation is right for you. |
Roll-Down Your Credit Card Debt! | The Credit Card Roll-Down Calculator applies two simple principles to paying off your credit card debt. |
Snowball Debt Elimination Calculator | This Debt Calculator applies two simple principles to paying off all your Debt that can cut years off of your repayment schedule. |
Student Loan Consolidation and Debt Payoff | The Student Loan Consolidation and Debt Payoff calculator applies two simple principles to paying off your Debt; Consolidate your student loans, and use the monthly savings to pay off your other outstanding debt. |
Annual Rate of Return Calculator | Use this calculator to determine the annual return of a known initial amount, a stream of deposits, plus a known final future value. |
Annual Stock Option Grants | Use this calculator to project how much a series of annual stock option grants could be worth to you. |
Asset Allocation Calculator | Your age, ability to tolerate risk and several other factors are used to calculate a desirable mix of stocks, bonds and cash. |
Compare Investment Fees | Even a small difference in the fees you pay on your investments can add up over time. Use this calculator to see how different fees impact your investment strategy! |
Future Contracts Calculator | Use this calculator to determine the number of futures contracts you may wish to purchase based on your account equity and trading plan. |
Future Value Calculator | Use this calculator to determine the future value of an investment which can include an initial deposit and a stream of periodic deposits. |
Internal Rate of Return (IRR) Calculator | Use this calculator to determine an Internal Rate of Return (IRR). It calculates the IRR on an annual basis of an irregular stream of up to 20 payments and withdrawals. |
Investment Distributions | This calculator helps you determine either how long or how much periodic distributions can be taken out of an investment before it runs out. |
Investment Goal | Use this calculator to see if your investment plan is on track to meet your investment goals – and receive suggestions on how to change it if you are falling short. |
Investment Loan | This calculator helps illustrate the effect of using a loan to purchase an investment or appreciable asset. Using debt as leverage to purchase investments can magnify your return. The downside is that you also increase your risk. |
Investment Property Calculator | An investment property can be an excellent investment. This calculator is designed to examine the potential return you might receive from an investment property. |
Investment Questionnaire – Broad Portfolio | The Investment Questionnaire is designed to help you create a balanced portfolio from a broad range of investment classes. |
Investment Questionnaire – Cash, Fixed Income and Equities | This questionnaire is designed to help you create a balanced portfolio of the three basic investment classes: Cash, Fixed Income and Equities. |
Investment Returns | There is more to investing than knowing your annual rate of return. Use this calculator to help you see how inflation, taxes and your time horizon can impact your bottom line. |
Investment Savings and Distributions | Use this calculator to see how long your investment savings can last once you begin taking distributions. |
Lump Sum Annual Return Calculator | Use this calculator to determine the annual rate of return of known lump sum starting and ending amount. |
Lump Sum Future Value Calculator | Use this calculator to determine the future value of a lump sum. |
Lump Sum Present Value Calculator | Use this calculator to determine the present value of a future lump sum. |
Municipal Bond Tax Equivalent Yield | Income generated from municipal bond coupon payments are not subject to federal income tax and often are exempt from state taxes. Use this calculator to estimate the tax-equivalent yield (TEY) for a municipal bond. |
Mutual Fund Expense Calculator | This calculator can help you analyze the costs associated with buying shares in a mutual fund. By entering a few pieces of information, found in your fund’s prospectus, you can see the impact of fees and operating expenses on your investment. |
Personal Economic Recovery Calculator | This calculator can help you determine exactly what it might take to return your to your original investment balance. |
Present Value Calculator | Use this calculator to determine the present value of a known final future value plus a stream of deposits. |
Present Value Goal Calculator | Use this calculator to determine the how much needs to be invested now to achieve a future goal. The total amount required immediately is reduced by the present value of a stream of additional deposits. |
REIT Tax-Equivalent Distribution | This calculator shows a REIT’s hypothetical yield and how ROC impacts tax equivalent yield. |
Stock Option Calculator | Use this calculator to determine the value of your stock options for the next one to twenty five years. |
Taxable vs. Tax Deferred Investments | This calculator is designed to help compare a normal taxable investment vs. a tax deferred investment. |
Taxable vs. Tax Deferred vs. Tax Free Investment | This calculator is designed to help compare a normal taxable investment, a tax deferred investment and tax-free investment. |
Adjustable Rate Mortgage Calculator | This calculator helps you to determine what your adjustable mortgage payments will be. |
APR Calculator for Adjustable Rate Mortgages | Use this calculator to find the APR on your adjustable rate mortgage. |
ARM & Interest Only ARM vs. Fixed Rate Mortgage | Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM. |
Balloon Mortgages | A balloon mortgage can be an excellent option for many home buyers, use this calculator to see if a balloon mortgage might fit your needs. |
Bi-weekly Payment Calculator | Using bi-weekly payments can accelerate your mortgage payoff and save you thousands in interest. Use this calculator to compare a typical monthly payment schedule to an accelerated bi-weekly payment. |
Bi-weekly Payments for an Existing Mortgage | This calculator shows you the possible savings by starting to pay your current mortgage with bi-weekly payments, instead of monthly payments. |
Blended Rate Mortgage Calculator | This calculator helps you determine the effective, or blended, interest rate you would pay if you use a first and a second mortgage to finance the purchase of a home. |
FHA Maximum Financing Calculator | Use this calculator to determine your maximum FHA mortgage and cash needed for closing. |
Fixed Rate Mortgage vs. Interest Only Mortgage | Use this calculator to compare a fixed rate mortgage to Interest Only Mortgage. |
Fixed Rate Mortgage vs. LIBOR ARM | Use this calculator to compare a fixed rate mortgage to a LIBOR ARM. |
Interest Only ARM Calculator | Interest only mortgages can provide you with very low monthly payments, however you are not paying off any principal during the interest only period. |
Interest Only Mortgage Calculator | Use this calculator to generate an amortization schedule for an interest only mortgage. |
Maximum Mortgage | Use this calculator to determine your maximum mortgage and how different interest rates affect your how much you can borrow. |
Mortgage APR Calculator | Use this calculator to find the APR on your mortgage. |
Mortgage Comparison: 15 Years vs. 30 Years | Use this calculator to compare these two mortgage terms, and let us help you decide which term is better for you. |
Mortgage Debt Consolidation | This calculator is designed to help determine whether using a mortgage to consolidate your debt is right for you. |
Mortgage Loan Calculator | Use this calculator to determine your monthly payment and amortization schedule. |
Mortgage Loan Calculator (PITI) | Use this calculator to determine your monthly mortgage principal, interest, taxes and insurance payment (PITI) and amortization schedule. |
Mortgage Payoff | Save thousands of dollars in interest by increasing your monthly mortgage payment. |
Mortgage Points Calculator | Should you buy points? Use this calculator to find out. |
Mortgage Qualifier | Can you buy your dream home? Find out just how much you can afford! |
Mortgage Refinance Break Even | Should you refinance your mortgage? Use this calculator to determine when you will break even. |
Mortgage Required Income | Use this calculator to determine how much income you need to qualify for a mortgage and how different interest rates affect your required income. |
Mortgage Tax Savings Calculator | Interest and points paid for a home mortgage are tax deductible. Use this calculator to determine how much your mortgage could save you in income taxes. |
Option ARM vs. Fixed Rate Mortgage | Use this calculator see how a minimum payment on an Option ARM Mortgage can save you money on your monthly mortgage payment. |
Refinance Interest Savings | Use this calculator to see how much interest you can save by refinancing your mortgage! |
Rent vs. Buy | Are you better off buying your home, or should you continue to rent? |
Reverse Mortgage Calculator | This calculator is specifically designed to show you how the outstanding balance of a reverse mortgage can rapidly grow over a period of time. |
401(k) Calculator | A 401(k) can be one of your best tools for creating a secure retirement. Use this calculator to see why this is a retirement savings plan you cannot afford to pass up. |
401(k) Savings with Profit Sharing | Use this calculator to how a 401(k) with profit sharing plan can help you save for retirement.. |
401(k) Spend It or Save It Calculator | There are several ways to manage your 401(k) when you leave an employer. Making the wrong decision can cost you thousands of dollars both in taxes and lost earnings. |
403(b) Savings Calculator | If you are an employee of a non-profit tax-exempt organization, a 403(b) can be one of your best tools for creating a secure retirement. |
457 Plan Contribution Effects on Your Paycheck | Use this calculator to see how increasing your contributions to a 457 plan can affect your paycheck as well as your retirement. |
457 Plan Withdrawal | Use this calculator to see what your net 457 plan withdrawal would be after taxes are taken into account. |
457 Plan: Roth vs. Pre-tax | Use this calculator to help determine whether a Roth or Pre-tax 457 might be best for you. |
457 Savings Calculator | A 457 plan can be one of your best tools for creating a secure retirement. Use this calculator to see why this is a retirement savings plan you cannot afford to pass up. |
72(t) Calculator | The IRS Rule 72T allows for penalty free, early withdrawals from retirement accounts. Use this calculator to determine your allowable 72T Distribution and how it can help fund your early retirement. |
72(t) Distribution Impact | This calculator is designed to examine the affects of 72T distributions on your retirement plan balance. |
Beneficiary Required Minimum Distributions | Use this calculator to determine your Required Minimum Distributions (RMD) as a beneficiary of a retirement account. |
Company Stock Distribution Analysis Calculator | If you own company stock in a retirement plan you may be able to take advantage of using the long term capital gains tax rate rather than your ordinary income tax rate on this investment. |
How Important is Social Security? | Use this calculator to determine how losing this important retirement asset could affect you. |
How long will my retirement savings last? | Use this calculator to see how long your retirement savings will last based on your retirement savings and your inflation adjusted withdrawals. |
Individual 401(k) Contribution Comparison | Use this calculator to determine your maximum Individual 401(k) contribution as compared to three other possible plan options. |
Individual 401(k) Savings Calculator | Use this calculator to see the benefits of an Individual 401(k) for the self-employed. |
IRA Spend It or Save It Calculator | Spending your IRA before your retire can be a costly decision. See how taking your out IRA early could cost you thousands of dollars both in taxes and lost earnings. |
Pension Plan Retirement Options | Use this calculator to help decide between joint survivorship and single survivorship pension options. |
Required Minimum Distribution (RMD) | Use this calculator to determine your Required Minimum Distributions (RMD) as an account owner of a retirement account. This financial calculator will also look at potential future year’s distribution requirements. |
Required Minimum Distribution (RMD) for Current Year | Use this calculator to determine your Required Minimum Distributions (RMD) as an account owner of a retirement account for the current year. |
Retirement Account Contribution Accelerator | Use this calculator to see how increasing your contributions to qualified retirement plan help save for your retirement. |
Retirement Contribution Effects on Your Paycheck | Use this calculator to see how increasing your contributions to a 401(k), 403(b) or 457 plan can affect your paycheck as well as your retirement. |
Retirement Income | Use this calculator to determine how much monthly income your retirement savings may provide you in your retirement. |
Retirement Nestegg Calculator | Do you know how much it takes to create a secure retirement? Use this calculator to help determine what size your retirement nestegg should be. |
Retirement Pension Planner | Plan your retirement with a company pension, find out if you are on track – and learn how to stay there. |
Retirement Plan Withdrawal | Use this calculator to see what your net withdrawal would be after taxes and penalties are taken into account. |
Retirement Planner | Quickly determine if your retirement plan is on track – and learn how to keep it there. |
Retirement Planner with Retirement Earnings | Plan your retirement with pension and possible retirement employment income. Find out if you are on track – and learn how to stay there. |
Retirement Shortfall | Running out of your retirement savings too soon is one of the biggest risks to a comfortable retirement. Use this calculator to find a potential shortfall in your current retirement savings plan. |
RMD & Stretch IRA Calculator | Use this calculator to help determine how you can stretch out your retirement plan distributions for as long as possible. |
Roth (after-tax) Account or Pre-Tax Account? | Starting in 2006, you may have the option to contribute to Roth account. Use this calculator to help determine which retirement plan option might be best for you. |
Roth 401(k) vs. Traditional 401(k) | Use this calculator to determine which 401(k) contribution type might be right for you. |
Roth 403(b) vs. Traditional 403(b) | Use this calculator to determine which 403(b) contribution type might be right for you |
Roth IRA Calculator | Use this calculator to compare the Roth IRA to an ordinary taxable investment. |
Roth IRA Conversion | This calculator will show the advantage, if any, of converting your IRA to a Roth. |
Roth IRA Conversion with Distributions | Use this calculator to help determine how you can stretch out your retirement plan distributions for as long as possible. |
Roth IRA vs. Traditional IRA | Use this calculator to determine which IRA may be right for you. |
Roth vs. Traditional 401(k) and your Paycheck | See how a Roth vs. Traditional 401(k) might affect your take home pay as well as your retirement savings. |
Should you Borrow From a 401(k) or 403(b)? | The majority of 401(k) plans and a growing number of 403(b) plans let you borrow money from your account. Use this calculator to help you determine if you should borrow, and the potential impact on your retirement savings. |
Social Security Benefits | Use this calculator to estimate your Social Security benefits. |
Traditional IRA Calculator | How can contributing to a regular IRA help you in your retirement? |
1040 Tax Calculator | Enter your filing status, income, deductions and credits and we will estimate your total tax. Based on your projected withholdings for the year, we can also estimate your tax refund or amount you may owe the IRS next April. |
457 Payroll Deductions | Use this calculator to help you determine the impact of changing your payroll deductions. |
Earned Income Credit (EIC) Calculator | Use this calculator to determine if you qualify for the Earned Income Credit and if so, how much it might be worth. |
Estate Tax Planning | Knowing your potential estate tax liability is a great place to start your estate tax plan. Use this calculator to estimate your estate tax liability. |
Flexible Spending Account (FSA) Calculator | Use this calculator to see how participating in Flexible Spending Account (FSA) contributions can help you pay less tax, and increase your net take home pay. |
Hourly Paycheck Calculator | Use this calculator to help you determine your paycheck for hourly wages. |
Marginal Tax Rate Calculator | Use this calculator to determine your marginal and effective tax rates. This calculator sorts through the tax brackets and filing options to calculate your true tax liability. |
Net to Gross Paycheck Calculator | Determine the gross paycheck needed to provide a required net amount. |
Payroll Deductions Calculator | Use this calculator to help you determine the impact of changing your payroll deductions. |
Self-Employment Tax Calculator | If you are self-employed, operate a farm or are a church employee use this calculator to determine your self-employment taxes for tax year 2019. |
U.S. 1040EZ Tax Form Calculator | Many people can use the 1040EZ tax form instead of the more complicated 1040 to calculate their taxes. Containing only seven required inputs, the 1040EZ is one of the quickest forms to calculate your tax bill. |
Breakeven Analysis | Find out how many and what price you must sell your product at to make a profit. |
Business Debt Consolidation Calculator | Should your business consolidate its debt? Use this calculator to find out. |
Business Valuation – Discounted Cash Flow | This tool calculates a business valuation based upon the discounted cash flow methodology – illustrating how changes in projected growth rates and capital assumptions impact the business Net Present Value. |
Cash Flow Calculator | Having adequate cash flow is essential to keep your business running. Use this calculator to help you determine the cash flow generated by your business. |
Commercial Loan Calculator | Use this calculator to estimate your debt service coverage with a new loan. If your debt service coverage is high enough, including your new loan payment, you have a good chance of being approved. |
Debt Service Coverage | This tool calculates debt service and illustrates how debt service coverage ratios are impacted by changing income and capital assumptions. |
Equipment Buy vs. Lease | Should you lease your equipment or finance it? Find out with this calculator! |
Financial Ratios | This calculator helps you to zero in on areas of your business that may need attention. Areas such as solvency, liquidity, operational efficiency and profitability. |
Inventory Analysis | Use this calculator to determine how much inventory you should hold, and efficient timing of your inventory orders. |
Like Kind Exchange | This calculator is designed to calculate and the recognized loss, gain and the basis for a Like Kind Exchange. |
Profit Margin Calculator | This calculator can help you determine the selling price for your products to achieve a desired profit margin. |
Repossession of Personal Property from a Deferred Payment Sale | If you have repossessed personal property from a deferred payment sale, you can this calculator to determine the gain or loss. |
Repossession of Personal Property from an Installment Payment Sale | If you have repossessed personal property with installment payments, you can this calculator to determine the gain or loss. |
Repossession of Real Property | If you have repossessed real property, you can this calculator to determine the gain or loss as well as its new basis. |
Working Capital Needs | Working capital essential to running your business. This calculator assists you in determining your working capital needs for the next year. |
Comprehensive Life Insurance Analysis | How much life insurance do you need? This comprehensive life calculator includes detailed net worth analysis, budgeting and college savings helps you find out. |
Disability Insurance | Use this calculator to determine how much disability insurance you may need to cover expenses if you are unable to work due to illness or injury. |
Fixed Annuity Calculator | A fixed annuity can provide a secure, tax-deferred investment. Use this calculator to see how a fixed annuity might fit into your retirement plan. |
Health Savings Account (HSA) Contribution Calculator | This Health Savings Account (HSA) calculator determines the amount you are allowed to deposit into an HSA account for the current tax year. |
Health Savings Account (HSA) Goal Calculator | Are you looking at the Health Savings Account (HSA) as a retirement account? This calculator will help you determine what you need to do in order to reach your goal. |
Health Savings Account (HSA) Savings Calculator | Use this calculator to help you determine how much your Health Savings Account (HSA) will be worth over time. |
Health Savings Account (HSA) vs. Traditional Health Plan | Compare an High Deductible Health Plan (HDHP) with a Health Savings Account (HSA) to a traditional health plan. |
Health Savings Accounts (HSA) Employer Benefit | This calculator helps estimate the value of creating a High Deductible Health Plan (HDHP) with Heath Savings Accounts (HSA) for your employees. |
Human Life Value | One of your most important assets is your ability to earn a paycheck. This calculator is designed to help you understand today’s value of your future earning. |
Immediate Annuity Calculator | Estimate what your monthly payments might be from an immediate annuity. |
Life Insurance Calculator | Find out how much life insurance you really need! |
Long Term Care Calculator | Long term care is needed by those who can’t perform the basic tasks required to take care of themselves. This calculator can help you determine if you are financially prepared for this impending expense. |
Variable Annuity Calculator | How can a variable annuity help you save for retirement? Use this calculator to find out. |
Variable Annuity without Surrender Charges | How can a variable annuity help you save for retirement? Use this calculator to find out. |
Alternative Payment Frequencies | Use this calculator to determine your payment or loan amount for different payment frequencies. |
Amortizing Loan Calculator | Enter your desired payment – and let us calculate your loan amount. Or, enter in the loan amount and we will calculate your monthly payment! |
Balloon Loan Calculator | A balloon loan can be an excellent option for many borrowers. Use this calculator to see how a balloon loan might work for you. |
Debt Consolidation Calculator | Should you consolidate your debt? Use this calculator to find out. |
Enhanced Loan Calculator | Use the slider controls to instantly change your monthly payment, loan amount, interest rate or term. |
Equity Line of Credit Payments | What will my monthly payments be for an interest only equity line of credit? |
Existing Loan Calculator | Use this calculator to analyze one of your existing loans. Calculate your remaining balance based on the number of monthly payments you have remaining. |
Home Equity Line of Credit Calculator | How big of a home equity line of credit can you receive? Use this calculator to find out! |
Line of Credit Payoff | Use this calculator to see what it will take to pay off your line of credit, and what you can change to meet your repayment goals. |
Loan & Credit Line Payment | This calculator helps determine your loan or credit line payment. |
Loan & Credit Line Tax Savings | This calculator helps determine your tax savings on loans or credit lines with tax deductible interest payments. |
Loan Comparison Calculator | Use this calculator to sort through the monthly payments, fees and other costs when comparing loan options. |
Loan Prequalification Calculator | Use this calculator as your first step in determining your ability to qualify for a loan. |
Basic Calculator | This works just like a pocket calculator. |
Basic Financial Calculator | This works just like a pocket financial calculator. In addition to arithmetic it can also calculate present value, future value, payments or number or periods. |
Checkbook Balancer | Balance your checkbook with this quick and easy calculator. |
Credit Assessment | How is your credit? Use this calculator for a quick assessment! |
Home Budget Analysis | Analyze your budget, see where your money goes and find out where you can improve! |
Life Expectancy | This calculator can give you an idea of your life expectancy based on your current age, smoking habits, gender and several other important lifestyle choices. |
Net Worth | This calculator helps you determine your net worth. It also estimates how your net worth could grow (or shrink!) over the next ten years. |
Should my spouse work? | This calculator is designed to help you see the financial impact of having either one or two incomes for your household. |
Student Budget | This calculator is specifically designed to help students understand their expenses and income while attending a university, college or other full-time educational institution. |
Benefit of Spending Less | Reducing your spending can be worth more than you might think. Use this calculator to see just how much your budget reductions may be worth. |
CD Ladder Calculator | Use this calculator to examine the benefits of investing in a series of Certificates of Deposits with different maturities, also called a CD Ladder. |
Certificate of Deposit Calculator | Use this calculator to find out how much interest you can earn on a Certificate of Deposit (CD). |
College Savings | Use this calculator to help develop or fine tune your education savings plan. |
Compare Savings Rates | Even a small difference in the interest you are paid on your savings can add up over time. Use this calculator to see how different savings rates can impact your savings strategy! |
Compound Savings Calculator | Find out how consistent investments over a number of years can be an effective strategy to accumulate wealth. |
Compounding and Your Return | This calculator demonstrates how compounding can affect your savings. |
Cool Million | Find out when your savings plan may make you a millionaire! |
Credit Union Certificate Calculator | Use this calculator to find out how much you can earn on a Certificate. Just enter a few pieces of information and we will calculate your Annual Percentage Yield (APY) and ending balance. |
Credit Union Certificate Ladder Calculator | Use this calculator to examine the benefits of investing in a series of Certificates with different maturities, also called a Certificate Ladder. |
Don’t Delay Your Savings! | Waiting to begin your savings plan can have a huge impact on your results. This calculator helps show you how much postponing your savings plan can really cost. |
Emergency Savings Calculator | This calculator helps you determine how much emergency savings you may need, and how you can begin saving toward this important goal. |
Home Buyer Savings Calculator | Use this tool to help you calculate what it might take to save for your new house. |
Lunch Savings | Use this calculator to see how a simple change such as bringing a bagged lunch to work can really add up. |
Savings Distribution Calculator | Use this calculator to determine savings balance after a series monthly, quarterly or annual withdrawals. |
Savings Goals | What will it take to reach your savings goal? This financial calculator helps you find out. |
Savings, Taxes, and Inflation | Use this calculator to determine how much your savings will be worth with these two important variables in mind. |
Vice Savings | Use this calculator to see how a simple changes in your spending habits for common vices such as smoking, drinking or even eating out can really add up. |

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From 2013 to 2019, our community has voted Henry & Peters Best in Accounting Services and Best in Bookkeeping & Tax Services. This is an honor that we are proud of and look forward to continuing earning year after year.
Industry Specializations
Tax Alerts
Factors to Consider When IRS Contacts Taxpayers, IR-2023-56
Factors to Consider When IRS Contacts Taxpayers, IR-2023-56
IRS Requests Comments on Treating NFTs as Collectibles, Notice 2023-27
Copies of Exempt Organization Returns Now Available Online Instead of DVD
Changes to 2023 Forms 5500 Issued
IRS Announces Successful Expansion of Digital Scanning Initiative, IR-2023-41
Population Figures Provided for Calculating Low-Income Housing Tax Credits, Notice 2023-22
IRS Addresses FAQs on Nutrition, Wellness and General Health, IR-2023-47
TX – Taxability of sales and purchases by oil well servicing company discussed
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