by mariettacp | May 23, 2011 | Money Tips, Tax Planning, Tax Tips
The IRS has announced new policies and programs to help taxpayers pay back taxes and avoid tax liens. The goal is to help individuals and small businesses meet their tax obligations, without adding an unnecessary burden to taxpayers. Specifically, the IRS is: 1)...
by mariettacp | May 20, 2011 | Money Tips, Tax Planning, Tax Tips
There are a few changes regarding health insurance and medical expenses for 2011. These include: IRS further delays health insurance coverage information reporting for small employers. The new health reform legislation generally requires employers to report the cost...
by mariettacp | May 18, 2011 | Money Tips, Tax Planning, Tax Tips
There is a new deadline for electing modified carryover basis rules. Estates of decedents dying in 2010 can choose zero estate tax, but at the price of beneficiaries being limited to the decedents’ basis plus certain increases. The IRS has announced that Form...
by mariettacp | May 16, 2011 | Money Tips, Tax Planning, Tax Tips
The IRS has announced new guidelines on the 2010 Tax Relief Act’s 100% depreciation allowance in regard to qualifying new property. This property must have been acquired after September 8, 2010 and before January 1, 2012. The new rules allow: 1) A 100% bonus...
by mariettacp | May 14, 2011 | Money Tips, Tax Planning, Tax Preparation
Tax laws are constantly being revised. As part of our service to our clients, we have summarized the most recent changes for your information. Today, we are discussing real estate reporting. For all payments made after December 31, 2010, individuals receiving rental...
