Social Security traps to avoid
Social Security traps to avoid (For full story visit msn.com) When the time comes for you to collect Social Security, make sure you know the ins and outs of this [...]
Owners of leasehold, restaurant and retail properties must act soon to enjoy extended depreciation-related breaks
In January, Congress extended some depreciation-related tax breaks that can benefit owners of leasehold, restaurant and retail properties: 50% bonus depreciation. Congress extended this additional first-year depreciation allowance to qualifying [...]
October 15th Deadline Remains in Effect for Taxpayers Who Requested a Six-month Extension to File Tax Return
October 15th Deadline Remains in Effect for Taxpayers Who Requested a Six-month Extension to File Tax Return Article courtesy of IRS Newswire Special Edition- October 8, 2013 The Internal Revenue [...]
Tips on Deducting Charitable Contributions
Giving to charity may make you feel good and help you lower your tax bill. Here are some tips to help ensure your contributions pay off on your tax return. [...]
How the government shutdown affects taxpayers and tax practitioners
Originally printed online by the Journal of Accountancy October 1, 2013 By Alistair M. Nevius, J.D. The failure of Congress to agree on a continuing spending resolution on Monday led [...]
Selling your home? Check out these Tax Tips!
If you’re selling your main home sometime this year, keep these tips from the IRS below in mind. Even if you make a profit from the sale of your home, [...]
Tax Court closed during government shutdown; IRS announces no refunds
Originally published in the Journal of aAcountancy, By Sally P. Schreiber, J.D. October 1, 2013 With the federal government shutting down at midnight on Sept. 30, the Tax Court [...]
New IRS website provides health care law information for just about everyone
Many provisions of the Patient Protection and Affordable Care Act of 2010 have recently gone into effect, and some significant provisions will do so in 2014 and 2015. To help [...]
The ACA: No Fine, and Dandy
This article was originally published by Roger Russellin with accounting TODAY for the WebCPA on September 26, 2013. There are a number of penalties associated with the Affordable Care Act. Until [...]
Check your Federal Tax Withholding and Payments to Avoid a Tax Surprise
Some are surprised to learn they’re due a large federal income tax refund when they file their taxes. Others are surprised that they owe more taxes than they expected. Check [...]
Now’s the time to consider short-term GRATs
Congress’s decision not to include a proposed minimum term for Grantor Retained Annuity Trusts (GRATs) in the tax legislation passed in January 2013 — combined with low interest rates — [...]
Tips for Taxpayers Who Owe Taxes
The IRS offers several payment options for those who owe taxes. Here are eight tips for those who owe federal taxes. 1. Tax bill payments. If you get a bill from [...]
Retirement Plans- Tax Rules on Early Withdrawals
Did you know....taking money out early from your retirement plan can cost you an extra 10 percent in taxes? An early withdrawal normally means taking money from your plan, such [...]
Two Education Credits Help Pay Higher Education Costs
The American Opportunity Credit and the Lifetime Learning Credit may help you pay for the costs of higher education. If you pay tuition and fees for yourself, your spouse or [...]
When you begin to collect Social Security benefits affects the payments you will receive for the rest of your life
This article appeared in U.S. News & World Report and is worth repeating. The age you begin to collect Social Security benefits affects the payments you will receive for the rest [...]