Here’s a mid-year tax planning checklist of events that may affect your tax return. All too often, taxpayers wait until after the close of the tax year to worry about their taxes, missing [...]
As you probably already know, business travel expenses such as food and lodging can be deducted when you are away from home for business purposes. This may be particularly beneficial to [...]
July 2013 July 10 Employees who work for tips – If you received $20 or more in tips during June, report them to your employer. You can use Form 4070. August 2013 August 10 Employees who [...]
The American Taxpayer Relief Act extended several popular tax breaks, some through 2013 and others permanently. Included are the optional deduction for state and local sales tax, the adoption [...]
Now that your taxes have been completed for 2012, you are probably wondering what old records can be discarded. If you are like most taxpayers, you have records from years ago that you are [...]
The limitation on itemized deductions is back. The American Taxpayer Relief Act sets the income level at $250,000 for single taxpayers and at $300,000 for couples. Those with income above these [...]
An IRS notice will probably increase your heart rate a little. Don’t panic; many of these letters can be dealt with simply and painlessly, but you should call Bressler & Company immediately. [...]
The American Taxpayer Relief Act of 2013 increased the top estate tax rate from 35% in 2012 to 40%. The estate exemption was set at $5,000,000 for individuals and $10,000,000 for married [...]
When you give away items like clothing, appliances, vehicles, and other goods to a qualified charity, your generosity can add up to a tax deduction if you itemize your deductions. The amount of [...]
A way to reduce the overall family tax bill is by employing family members through your business, which allows you to shift income to them as well as provide them with employment benefits.
