The tax implications of being a winner
They say you can’t win if you don’t play. Remember, though, if you do win, you will pay – taxes, that is. Winning at gambling Whether you win at the casino, a bingo hall, or elsewhere, you must report 100 percent of your winnings as taxable income. They’re reported on the “Other income” line on […]
Note changes to ACA thresholds and signs of more audits
It’s almost time for the annual open enrollment period, so it’s important to note that the IRS recently announced the affordability percentage for 2020 under the Affordable Care Act will decrease to 9.78 percent. This is a slight decrease from the 2019 threshold of 9.86 percent. Employers should make sure that your insurance broker is […]
Antares Group donates to Newton County Sheriff’s Office Back To School Supply Giveaway
Antares Group, Inc. was a proud sponsor this year of the Newton County Sheriff’s Office Back To School Supply Giveaway. In addition to sponsoring the annual event, members of our firm donated several packets of lined filler paper for the students. Each year, the Back to School Supply Giveaway distributes more than 5,000 backpacks filled […]
If your kids are off to day camp, you may be eligible for a tax break
Now that most schools are out for the summer, you might be sending your children to day camp. It’s often a significant expense. The good news: You might be eligible for a tax break for the cost. The value of a credit Day camp is a qualified expense under the child and dependent care credit, […]
Are you withholding enough? Now is a good time to check
Due to the massive changes in the Tax Cuts and Jobs Act, the 2019 filing season resulted in a few surprises. Some filers who have gotten a refund in past years wound up owing money. The IRS reports that the number of refunds paid this year is down from last year — and the average […]
Think you’re too big to be hacked? Think again
No organization is too big to be hacked. It seems there are almost daily reports about large companies that have fallen victim to hackers. In most circumstances, the hackers will gain access to the account and set up rules and additional folders through the settings that will automatically forward emails containing financial data to an […]
Roth or traditional IRA? Income level and taxes could help you decide
It’s never too early to begin planning for retirement or investing in a nest egg for the future. There are several options available for investing in retirement plans, but the two we get questions about most often are whether a traditional or a Roth IRA is the best option. Deciding which is the best vehicle […]
Divorce may be even more taxing under TCJA
Divorce is never easy, emotionally or financially, and now with the Tax Cuts and Jobs Act, the process can be even more taxing. Prior to the passage of the sweeping tax reform law at the end of 2017, a divorced spouse paying alimony could deduct those payments from his or her reportable income when filing […]
Antares Group donates Thanksgiving meals to Phoenix Pass
Our associates at Antares Group, Inc. donated money to purchase Thanksgiving meal ingredients and the firm provided provided turkeys for the 15 families living at Phoenix Pass, a nonprofit organization based in Conyers, Ga., that provides transitional housing to women and their children experiencing temporary homelessness. The program provides participants the opportunity to reestablish self-sufficiency in […]
Talk to your teens about future medical decisions
Discussions about end-of-life decisions are not easy, but they are necessary to ensure that you and your loved ones’ wishes are fulfilled in the event of illness or devastating accident. Generally these discussions involve spouses and their siblings and parents. But what about your young adult children? It is a wake-up call for many parents […]