Important Times to Seek Assistance

March 10th, 2015

Waiting for your regular appointment to discuss current tax-related issues can create problems or cause you to miss out on beneficial options that need to be timely exercised before year-end. Generally, you should call this office any time you have a substantial change in taxable income or deductions. By doing so, we can advise you […]

Receive Your Refund Faster With Direct Deposit

March 3rd, 2015

Don’t wait around for a paper check. Have your federal (and state, if applicable) tax refund deposited directly into your bank account. Selecting Direct Deposit is a secure and convenient way to get your money into your pocket more rapidly. Speed – When combining e-file with direct deposit, the IRS will likely issue your refund in […]

Is a 1031 Exchange Right for You?

February 24th, 2015

If you own real property that you could sell for a substantial profit, you may have wondered whether there’s a way to avoid or minimize the taxes that would result from such a sale. The answer is yes, if the property is business or investment related. Normally, the gain from a sale of a capital […]

Getting the Most Out of Employee Business Expense Deductions

February 17th, 2015

Individuals can deduct as miscellaneous itemized deductions certain expenses that they incur in the course of their employment. Generally, qualified business expenses are un-reimbursed expenses that are both ordinary (common and accepted in your industry) and necessary and do not include personal expenses. There are two major barriers to deducting employee business expenses. The most […]

Tax Smart Gifting

February 10th, 2015

Frequently, taxpayers think that gifts of cash, securities or other assets they give to other individuals are tax deductible and, in turn, the gift recipient sometimes thinks income tax must be paid on the gift received. Nothing is further from the truth. To fully understand the ramifications of gifting, one needs to realize that gift […]

Refinanced Mortgage Interest May Not All Be Deductible

February 3rd, 2015

Mortgage interest rates continue to be low, and home values are on the uptick. If you are considering a refinance, there are some important home mortgage interest rules you should be aware of. Generally, the mortgage interest that you may deduct on your home includes the interest paid on the acquisition debt and on up […]

No Health Insurance? Qualify for Hardship Waiver?

January 27th, 2015

If you didn’t get health insurance coverage this year, you may be subject to a penalty unless you qualify for one of the many general or hardship exemptions. There are in excess of 30 possible exemptions from the penalty and some of the exemptions require you to complete and file an application for approval. If approved for […]

Recordkeeping Tips to Keep the IRS Away

January 6th, 2015

With the ever-increasing complexity of our tax system, it is commonplace for many small businesses to make mistakes with bookkeeping and filing. One way to avoid making errors is to be aware of the most commonly encountered pitfalls. Here are some tips to help keep the proper records. Receipts – Even though the IRS does not […]

Tips to Avoid Tax Penalties for 2014

December 2nd, 2014

Thanksgiving marks the beginning of the holiday season and the time when we begin to think about family get-togethers, holiday gift sharing and parties. But don’t overlook what comes right after the holidays: tax season. And don’t overlook a couple of things you can do now to avoid or reduce potential penalties on your 2014 […]

Avoid Tax Surprises: Report Life Changes to the Marketplace

November 4th, 2014

If you are enrolled in insurance coverage through a government Health Insurance Marketplace, it is important that you report certain changes to the marketplace when they happen, such as changes to your household income or family size and other issues that affect your eligibility for and the amount of the advance premium tax credit (APTC). […]


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by: James • Tools

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October 17, 2008
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