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 | Jan 30, 2014 | Money Tips
There are many worthwhile reasons to lend money to a relative. For example, you may want to help a child or sibling continue their education or start their own business. But lending money to relatives can have tax consequences. The IRS requires that a minimum rate of...
by mariettacp | Jan 28, 2014 | Money Tips
One of the most misunderstood elements of the Affordable Healthcare Act (ACA) may soon cause a shocking rate increase for small business owners. While all states have taken the option to hold off until 2016, the Small Group Market for insurance coverage will be...
by mariettacp | Jan 23, 2014 | Money Tips
As you review your filing requirements for 2013, make sure you don’t overlook the so-called “nanny tax.” If you have a household employee, you could be liable to pay state and federal payroll taxes. First, you must determine whether you have a...
