by mariettacp | Feb 5, 2014 | Accounting News, Money Tips, Tax Planning, Tax Preparation, Tax Tips
What’s your alternative minimum tax (AMT) preference? Though you might prefer to not think about the AMT, certain income and deductions, known as preference items, affect the way the tax will apply to you. Those amounts, along with others called...
by mariettacp | Feb 4, 2014 | Accounting News, Money Tips, Tax Planning, Tax Tips
Fire, flood, tornado. Violent weather can wreak emotional and financial havoc. If your home, vehicle, or other personal property is damaged or destroyed by a sudden, unexpected casualty, an itemized tax deduction may help ease the financial burden. In most cases, you...
by mariettacp | Jan 31, 2014 | Accounting News, Money Tips, Tax Planning, Tax Preparation
The rules for filing 2013 tax returns are straightforward for most people. Marital status, age, and income level are generally the determining factors. Here’s a quick overview of the income levels at which a 2013 return is required. *Single individual…..$10,000...
by mariettacp | Feb 22, 2013 | Accounting News, Money Tips, Tax Planning
As the politicians in Washington start once again to tackle the same old problems, you're likely to hear more about a new way of measuring inflation called the “chained CPI.” The standard way to measure inflation has been with the consumer price index...
by mariettacp | Feb 21, 2013 | Accounting News, Money Tips, Tax Planning, Tax Preparation, Tax Tips
A number of tax breaks that had expired at the end of 2011 or were to expire at the end of 2012 were extended by the recently passed law, the “American Taxpayer Relief Act of 2012.” Keep these deductions and credits in mind as you gather the paperwork for...
by mariettacp | Aug 15, 2011 | Accounting News, Money Tips, Tax Preparation
A recent court case reveals that the IRS has discovered a pattern of taxpayers failing to file gift tax returns for real property transfers between nonspouse related parties. As a result, it launched a compliance initiative to capture data from states and counties...
