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Information courtesy of IRS If you are a low-to-moderate income worker, you can take steps now to save two ways for the same amount. With the saver’s credit you can [...]

To take a 2014 charitable donation deduction, the gift must be made by Dec. 31, 2014. According to the IRS, a donation generally is “made” at the time of its [...]

Smart timing of deductible expenses can reduce your tax liability, and poor timing can unnecessarily increase it. When you don’t expect to be subject to the alternative minimum tax (AMT) [...]

Info courtesy of IRS   Top Four Year-End IRA Reminders Individual Retirement Accounts are an important way to save for retirement. If you have an IRA or may open one [...]

Appreciating investments that don’t generate current income aren’t taxed until sold, deferring tax and perhaps allowing you to time the sale to your tax advantage. Review your year-to-date gains and [...]

If you’re looking to reduce your 2014 tax bill, you may want to consider purchasing a business vehicle before year end. Business-related purchases of new or used vehicles may be [...]

Information found on IRS.gov If you enrolled in insurance coverage via the Health Insurance Marketplace, you must report changes to the Marketplace, such as changes to your household income or family size. Changes may [...]

Information courtesy of  IRS IRS has announced the 2015 cost-of-living adjustments (COLAs) for retirement plans. Many of the limits pertaining to pension and other retirement plans, which are adjusted by [...]

The long-term capital gains rate is 0% for gain that would be taxed at 10% or 15% based on the taxpayer’s ordinary-income rate. If you have loved ones in the [...]

Assets or investments...Do you take your cost basis into account when you sell an asset or investment? Your cost basis, or the amount you originally paid for it, is subtracted [...]

With the midterm elections now behind us and control of the U.S. Senate set to shift parties in January, it’s time to revisit the valuable tax breaks that expired at [...]

Information courtesy of IRS   The Internal Revenue Service announced on October 30, 2014 annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules, and other [...]

Typically, it’s better to defer tax. Here are two timing strategies that can help businesses do this: Defer income to next year. If your business uses the cash method of [...]

The IRS has announced the 2015 cost-of-living adjustments (COLAs) for retirement plans. Many of the limits pertaining to pension and other retirement plans, which are adjusted by reference to Code [...]

Information courtesy of IRS Identity theft is one of the fastest growing crimes nationwide, and refund fraud caused by identity theft is one of the biggest challenges facing the IRS. [...]