Divorce is difficult enough without having to consider income tax consequences. Yet payments you agree to make or receive related to a divorce can affect your return in current and future years. (more…)
March, 2012
Reactivating Lost Customers
Save time, money and energy easily by choosing to put your focus towards reactivating old customers instead of rushing full-speed ahead into a brand new marketing campaign. (more…)
Diversify Investments By Putting A Focus On Taxes
Savvy investors often spread their risks by investing in a variety of asset classes such as stocks, bonds, commodities, and real estate. But with a changing tax landscape, investors might consider three more classes: taxable, tax-deferred, and tax-free. (more…)
Personal Taxes Due
Title: Personal Taxes Due Description: Last-day for individuals to file prior year income tax return (Form 1040, Form 1040A, or Form 1040EZ). File Form 4868 to obtain automatic six month extension. Date: 2012-04-17
Tax Tip Tuesday! Note These 2011 Schedule C Changes
Tax laws and information reporting requirements continue to change — and so do tax forms. Schedule C, the form you include with your federal tax return to report income from your sole proprietorship, is no exception. (more…)
What’s New: Payroll Tax Cut Extended Through 2012
Congress passed an extension of the 2% payroll tax cut that had been scheduled to expire at the end of February. The extension means 160 million working Americans will continue to pay social security tax on their wages at a 4.2% rate for the rest of 2012, rather than at a 6.2% rate. (more…)
Short Term Goals
Long-term goals are crucial for a successful business. Mission statements, business plans and marketing campaigns all contribute towards achieving your goals. (more…)
New Business: More Small Business Audits
The IRS plans to conduct random audits of 2,500 returns from 2010 filed by corporations with less than $250,000 in assets. The results will be used to update the IRS formulas for selecting returns for audit. (more…)
Tax Tip Tuesday: Foreclosure May Require More Tax Forms
If you went through a foreclosure or had home mortgage debt forgiven last year, you might have income to report on your federal tax return — and you might see forms that are new to you. (more…)
What’s New: IRS Reopens Program
To encourage taxpayers with offshore accounts to get current with their tax obligations, the IRS has reopened its “offshore voluntary disclosure program (OVDP). ” Similar programs in 2009 and 2011 resulted in the collection of more than $4.4 billion of taxes owed. (more…)
