Payroll Tax Cut Extension
Posted on : 2012-01-31
On December 23, 2011, Congress approved and President Obama signed a two-month extension of the employee payroll tax cut. The Temporary Payroll Tax Cut Continuation Act of 2011 extends the two percentage point employee payroll tax cut through the end of February 2012.
Unless Congress extends the tax cut, all payroll paid after February 29th will revert back to the full 6.2%. This means that the FICA withholding on the first payroll in March, even though it may represent hours worked in ... Read More
As professionals who practice before the Internal Revenue Service, we are bound by rules and regulations issued by the IRS. One of these rules governs written advice to clients concerning federal tax matters. The rules require that we advise you that you cannot rely on written advice for the purpose of avoiding penalties that may be imposed by the IRS as a result of a transaction.
Arizona Tax Credits Available for 2011
Posted on : 2011-11-30
For those of you that are required to file Arizona Individual Income tax returns for 2011, there is still time to make charitable contributions that will qualify for credits on your 2011 Arizona Individual Income Tax Return. As a reminder, Arizona credits are a dollar for dollar reduction to your Arizona income tax liability while at the same time allow you a certain amount of discretion as to how a portion of your tax dollars are used. By taking advantage of the following credits, you could p ... Read More
As professionals who practice before the Internal Revenue Service, we are bound by rules and regulations issued by the IRS. One of these rules governs written advice to clients concerning federal tax matters. The rules require that we advise you that you cannot rely on written advice for the purpose of avoiding penalties that may be imposed by the IRS as a result of a transaction.
Home Energy Credits Still Available for 2011
Posted on : 2011-11-22
The IRS reminds homeowners that they still have time this year to make energy-saving and green-energy home improvements and qualify for either of two home energy credits.
The Nonbusiness Energy Property Credit is aimed at homeowners installing energy efficient improvements such as insulation, new windows and furnaces. The credit is more limited than in the past years, but can still provide substantial tax savings.
• The 2011 credit rate is 10 percent of the cost of qualified energ ... Read More
As professionals who practice before the Internal Revenue Service, we are bound by rules and regulations issued by the IRS. One of these rules governs written advice to clients concerning federal tax matters. The rules require that we advise you that you cannot rely on written advice for the purpose of avoiding penalties that may be imposed by the IRS as a result of a transaction.
Tax Deductions Related to Business Use of Automobiles
Posted on : 2011-11-14
In general, if you use your vehicle in pursuit of a trade or business, you are allowed to deduct the ordinary and necessary expenses incurred while operating the vehicle. However, any expenses associated with the personal use of the vehicle are not deductible. For purposes of these deductions, "car" includes a passenger vehicle, van, pickup or panel truck.
Personal vs. business miles - Business use of your car can include traveling from one work location to another work location withi ... Read More
As professionals who practice before the Internal Revenue Service, we are bound by rules and regulations issued by the IRS. One of these rules governs written advice to clients concerning federal tax matters. The rules require that we advise you that you cannot rely on written advice for the purpose of avoiding penalties that may be imposed by the IRS as a result of a transaction.
Tax Tips for Newlywed Taxpayers
Posted on : 2011-10-18
Seven Tax Tips for Recently Married Taxpayers
The Internal Revenue Service advises the soon-to-be married and the just married to review their changing tax status. If you recently got married or are planning a wedding, the last thing on your mind is taxes. However, there are some important steps you need to take to avoid stress at tax time. Here are seven tips for newlyweds.
1. Notify the Social Security Administration Report any name change to the Social Security Administratio ... Read More
As professionals who practice before the Internal Revenue Service, we are bound by rules and regulations issued by the IRS. One of these rules governs written advice to clients concerning federal tax matters. The rules require that we advise you that you cannot rely on written advice for the purpose of avoiding penalties that may be imposed by the IRS as a result of a transaction.
Plan Now For Tax Record Keeping to Reduce Tax-Time Stress
Posted on : 2011-09-19
You may not be thinking about your tax return right now, but summer is a great time to start planning for next year. Organized records not only make preparing your return easier, but may also remind you of relevant transactions, help you prepare a response if you receive an IRS notice, or substantiate items on your return if you are selected for an audit.
Here are a few things the IRS wants you to know about recordkeeping.
1. In most cases, the IRS does not require you to keep ... Read More
As professionals who practice before the Internal Revenue Service, we are bound by rules and regulations issued by the IRS. One of these rules governs written advice to clients concerning federal tax matters. The rules require that we advise you that you cannot rely on written advice for the purpose of avoiding penalties that may be imposed by the IRS as a result of a transaction.
Back-to-School Tips for Students and Parents Paying College Expenses
Posted on : 2011-09-01
Whether you're a recent graduate going to college for the first time or a returning student, it will soon be time to get to campus - and payment deadlines for tuition and other fees are not far behind. The Internal Revenue Service reminds students or parents paying such expenses to keep receipts and to be aware of some tax benefits that can help offset college costs.
Typically, these benefits apply to you, your spouse or a dependent for whom you claim an exemption on your tax return.
Read More
As professionals who practice before the Internal Revenue Service, we are bound by rules and regulations issued by the IRS. One of these rules governs written advice to clients concerning federal tax matters. The rules require that we advise you that you cannot rely on written advice for the purpose of avoiding penalties that may be imposed by the IRS as a result of a transaction.
Tax Tips for Moving Expenses
Posted on : 2011-08-15
Ten Tax Tips for Individuals Who Are Moving
Summertime is a popular time for people with children to move since school is out.
Moving can be expensive, but the IRS offers 10 tax tips on deducting some of those expenses if your move is related to starting a new job or a new job location.
1. Move must be closely related to start of work Generally, you can consider moving expenses incurred within one year from the date you first reported to a new location, as closely related ... Read More
As professionals who practice before the Internal Revenue Service, we are bound by rules and regulations issued by the IRS. One of these rules governs written advice to clients concerning federal tax matters. The rules require that we advise you that you cannot rely on written advice for the purpose of avoiding penalties that may be imposed by the IRS as a result of a transaction.
Arizona State Income Tax Amnesty Program
Posted on : 2011-08-08
As a reminder, the tax amnesty program will run from September 1 through October 1, 2011, and apply to:
(1) any taxable period beginning from and after December 31, 2003, and ending before January 1, 2010, for taxpayers who file annually, and
(2) any taxable period beginning from and after January 14, 2004, and ending before January 1, 2010, for taxpayers having a 52-53-week tax year. For all other taxpayers, the program applies to any taxable period beginning from and after D ... Read More
As professionals who practice before the Internal Revenue Service, we are bound by rules and regulations issued by the IRS. One of these rules governs written advice to clients concerning federal tax matters. The rules require that we advise you that you cannot rely on written advice for the purpose of avoiding penalties that may be imposed by the IRS as a result of a transaction.
