Tax-Free Gifts in 2014
Every year each individual is allowed to give an unlimited number of tax-free gifts.
Estate, Trust & Gift Tax for 2014
I recently made a presentation to financial industry professionals regarding tax issues for Estate & Trusts gifts. Here is a movie of the slideshow presentation. Have questions? Feel free to contact me!
Copies of Tax Returns and Other Tax Information from the IRS
Can’t find your copy of an old tax return? Not sure that you received all your 1099s or other tax forms this year? You can get the information from the IRS by requesting transcripts or copies of tax returns.
Keep the Feds Out of Your Swiss Bank Account
What is the best way to keep the Feds hands out of your Swiss bank account?
How to Deduct Your Car Purchase in 2014
Section 179 deductions are the tax magic that let you fully deduct capital assets in the year your purchase them.
How to Buy Computers, Furniture, and Other Equipment for Business in 2014
Section 179 has a number of rules that must be followed to take advantage of it.
Why To Track Mileage
If you use your car for your business your CPA has probably told you to track your mileage. The reason is that there is two ways to calculate the auto-related costs for your car- actual expenses and standard mileage rate- and both rely on knowing the number of business miles you drove for the year.
How to Deduct Your Vacation
It is almost summer, and many people will be thinking about traveling. If you plan it right, you might even be able to deduct a good part of your trip.
Tax Breaks for Vacation Homes
Vacation homes have advantages in the tax code, because you can often treat them either as a home or a real estate investment, both of which have advantages.
What To Do When You Owe The IRS Money And You Can’t Pay It
Scenario- you filed your tax return, and it turns out you owe money—way more money than you thought. And you can't afford to pay it all at once. What do you do?
2013 Individual Income Tax Return Deadline April 15, 2014
It’s a week before Tax Day! At this point, if you haven’t gotten your information to your CPA yet, you should probably go on extension.
Three Tax Breaks for Higher Education
The cost of high education keeps rising. If you, or a dependent, are in college, make sure you take advantage of the tax breaks you might be eligible for.
Get Money for Your Kids
It sure costs a ton to raise kids these days. That’s why I want to make sure parents take advantage of the tax credits they might be able to claim.
2013 Corporate Tax Return Deadline March 17, 2014
Typically C- and S- corporation tax returns are due on March 15th, but this year that date is a Saturday, so the kind folks at the IRS make the following Monday, March 17th, the deadline instead.
Can I toss those old tax returns?
The IRS says that you really only need to hold onto tax returns and supporting documentation (like W-2s, 1099s, deduction receipts) for three years after the date of filing (April 15th or later if you filed an extension).