If you’re like most taxpayers, you find yourself with an ominous stack of “homework” around TAX TIME! Pulling together the records for your tax appointment is never easy, but the effort usually [...]
Following up on announcement made by President Barack Obama in his annual State of the Union speech on Tuesday, January 28, 2014, the White House released details of a new retirement savings [...]
Frequently, taxpayers think that gifts of cash, securities, or other assets that they give to other individuals are tax-deductible and, in turn, the gift recipient sometimes thinks that income [...]
What happens when Social Security funds run out? This subject comes up over and over again and Congress keeps kicking it down the road, not wanting to deal with the political fallout that will [...]
2014 will be a challenging tax year for businesses and higher-income taxpayers. The following 16 tax issues facing small business owners in 2014 may impact you and your company’s tax liability in [...]
Understanding the Health Insurance Mandate Beginning in 2014, the Affordable Care Act will impose the new requirement that all people in the United States, with certain exceptions, have minimum [...]
The tax code provides education tax benefits for post-secondary (college) education tuition paid during the year for a taxpayer, spouse, or dependents. Taxpayers should make every attempt to take [...]
Beginning this tax year, you can maximize your medical deductions in excess of 10% of your adjusted gross income (AGI), up from the previous 7.5% AGI limitation. The limitation remains at 7.5% [...]
Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years.
Are you or someone you know about to get audited by the IRS? Have you ever wondered why some tax returns receive an IRS audit notice, while others don’t? The IRS doesn’t have enough personnel [...]
