Tax Tips & Accounting Blog | AFSG Consulting • Deerfield Beach

Impending tax cliff makes business succession tax planning critical

By Lauryn Charles|2012-11-09T10:47:02-05:00November 9th, 2012|Employers, News Articles|

Source:http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2012/Tax/A_taxingsituation.jsp AICPA.com A taxing situation: Tax strategy and family business succession planning The time for family business owners to act is now. November 8, 2012 by Jim Fitts and John Weeks Succession planning is one of the most challenging and complicated concerns family business owners face. Succession planning can be difficult [...]

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IRS Gives Additional Time to Taxpayers and Preparers Affected by Hurricane Sandy; File and Pay by Nov. 7

By Lauryn Charles|2012-10-31T15:15:46-04:00October 31st, 2012|Individual Income Tax|

Source: IRS.gov WASHINGTON — The Internal Revenue Service today announced it is granting taxpayers and tax preparers affected by Hurricane Sandy until Nov. 7 to file returns and accompanying payments normally due today. The relief applies to taxpayers and tax preparers in an area affected by Hurricane Sandy or otherwise [...]

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IRS Provides Tax Relief to Victims of Hurricane Isaac; Return filing and Tax Payment Deadline Extended to Jan. 11, 2013

By Lauryn Charles|2012-09-05T16:07:27-04:00September 5th, 2012|Corporate Income Tax, Individual Income Tax|

source: IRS.gov Podcast Disaster Assistance: English | Spanish WASHINGTON –– The Internal Revenue Service is providing tax relief to individuals and businesses affected by Hurricane Isaac. Following recent disaster declarations for individual assistance issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in Louisiana and [...]

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Five Important Tips on Gambling Income and Losses

By Lauryn Charles|2012-08-29T13:07:25-04:00August 29th, 2012|Individual Income Tax, Tax Payments|

source: IRS.gov Whether you roll the dice, bet on the ponies, play cards or enjoy slot machines, you should know that as a casual gambler, your gambling winnings are fully taxable and must be reported on your income tax return. You can also deduct your gambling losses…but only up to [...]

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Six Tips for Charitable Taxpayers

By Lauryn Charles|2012-08-20T08:39:50-04:00August 20th, 2012|Individual Income Tax, Non-Profits|

Source: IRS.gov Contributing money and property are ways that you can support a charitable cause, but in order for your donation to be tax-deductible, certain conditions must be met. Read on for six things the IRS wants taxpayers to know about deductibility of donations. 1. Tax-exempt status. Contributions must be made [...]

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Tax Tips for Recently Married Taxpayers

By Lauryn Charles|2012-08-17T09:27:18-04:00August 17th, 2012|Employees, Individual Income Tax, Parents and Children|

source: IRS.gov If you’ve recently updated your status from single to married, you’re not alone – late spring and summertime is a popular period for weddings. Marriage also brings about some changes with your taxes. Here are several tips for newlyweds from the IRS. Notify the Social Security Administration It’s [...]

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Organizing Tax Records This Summer Can Help You Keep Your Cool

By Lauryn Charles|2012-08-10T10:03:17-04:00August 10th, 2012|Individual Income Tax, News Articles|

Source: IRS.gov If the sweltering dog days of summer aren’t incentive enough to get out of the sun for awhile, the IRS suggests another reason to head indoors: organizing your tax records. Devoting some time mid-year to putting your tax-related documents in order may not only keep you out of [...]

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Ten Tax Tips for Individuals Selling Their Home

By Lauryn Charles|2012-08-06T12:24:44-04:00August 6th, 2012|Home Owners, Individual Income Tax|

The Internal Revenue Service has some important information for those who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may be able to exclude all or part of that gain from your income. Here are 10 [...]

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Eleven Tips for Taxpayers Who Owe Money to the IRS

By Lauryn Charles|2012-08-06T08:55:04-04:00August 6th, 2012|Individual Income Tax, Penalties and Interest, Tax Payments|

Most taxpayers get a refund from the Internal Revenue Service when they file their tax returns. For those who don’t get a refund, the IRS offers several options to pay their tax bill. Here are eleven tips for taxpayers who owe money to the IRS. 1. Tax bill payments If you [...]

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Tax Relief for Victims of Tropical Storm Debby in Florida

By Lauryn Charles|2012-07-13T17:11:23-04:00July 13th, 2012|Home Owners, Individual Income Tax, News Articles|

Source: IRS.gov FL-2012-07, Jul. 5, 2012 PLANTATION — Victims of tropical storm Debby that began on June 23, 2012 in parts of Florida may qualify for tax relief from the Internal Revenue Service. The President has declared Baker, Bradford, Clay, Columbia, Duval, Franklin, Hernando, Highlands, Nassau, Pasco, Pinellas Suwannee, Union [...]

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