2014 Tax Planning for Individuals Source: KaneCPAs.com Traditional year-end planning techniques remain important for 2014. As always, tax planning requires a combination of multi-layered strategies, taking into account a variety of possible scenarios and outcomes. These income deferral/exclusion and deduction/credit acceleration techniques may be used to reduce your income tax [...]
<irs.gov> Do you know that if you sell your home and make a profit, the gain may not be taxable? That’s just one key tax rule that you should know. Here are ten facts to keep in mind if you sell your home this year. 1. If you have a capital [...]
(Source: IRS.gov)Taxes may not be high on your summer wedding plan checklist. But you should be aware of the tax issues that come along with marriage. Here are some basic tips that can help keep those issues to a minimum: Name change. The names and Social Security numbers on your [...]
WASHINGTON — The Internal Revenue Service today reminded taxpayers that quick and easy solutions are available if they can’t file their returns or pay their taxes on time, and they can even request payment options online. The IRS says don’t panic. Tax-filing extensions are available to taxpayers who need more [...]
Source: IRS.gov Are you looking for a hard and fast rule about what income is taxable and what income is not taxable? The fact is that all income is taxable unless the law specifically excludes it. Taxable income includes money you receive, such as wages and tips. It can also [...]
Which form should you use to file your federal income taxes? These days, most people use a computer to prepare and e-file their tax forms. It’s easy, because tax software selects the right form for you. If you file on paper, you’ll need to pick the right form to use. [...]
Source: IRS.gov Do you need to file a federal tax return this year? Perhaps. The amount of your income, filing status, age and other factors determine if you must file. Even if you don’t have to file a tax return, there are times when you should. Here are five good [...]
Welcome 2014! As the new year rolls around, it's always a sure bet that there will be changes to the current tax law and 2014 is no different. From health savings accounts to retirement contributions and standard deductions, here's a checklist of tax changes to help you plan the year [...]
source: irs.gov Although the year is almost over, you still have time to take steps that can lower your 2013 taxes. Now is a good time to prepare for the upcoming tax filing season. Taking these steps can help you save time and tax dollars. They can also help you [...]
Source: IRS.gov WASHINGTON — The Internal Revenue Service today issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, [...]