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Tax Tips Newsletters  //  Business Advice & Tax Tips

Jan 20 Comments

Congress Passes Tax Extenders

Congress Passes Tax Extenders

In December, Congress extended tax breaks known as “tax extenders” retroactively to the beginning of 2015. In addition, the new law makes some of the rules effective through December 31, 2016, some effective through 2019, and some effective permanently. Other provisions change existing tax rules that were not part of the tax extenders. Here are […]

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Dec 30 Comments

Take Time for Year-End Estate Planning

Take Time for Year-End Estate Planning

As you update your beneficiary designations and wrap up other tax-related year-end matters, take time to make sure your estate plan reflects current rules. Why? Maybe you’re thinking estate planning is no longer necessary. This could be due to higher estate tax exclusions of $5,430,000 for 2015, and $5,450,000 for 2016. But even if the […]

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Nov 30 Comments

Year-End Planning for Taxes

Year-End Planning for Taxes

Are you ready for ? Maybe you’re hesitating because you’re wondering about the fate of “extenders,” those temporary breaks that Congress generally renews for a year at a time. You’re not alone. When the IRS released a draft of the 2015 Form 1040, several lines that were used for deductions and other breaks in 2014 […]

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Nov 13 Comments

Will the New Repair Regulations Affect your Business?

Will the New Repair Regulations Affect your Business?

After years of work, the IRS has finally issued regulations clarifying for the business community when costs related to fixed assets must be capitalized and when they can be expensed. To expense or capitalize? What’s the difference? Generally, the cost to acquire, produce, or improve tangible property must be capitalized and depreciated over a number […]

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Sep 14 Comments

Remember These Fall Tax Deadlines

Remember These Fall Tax Deadlines

Fall is a busy season for tax due dates. Check the list of fall tax deadlines below to see if any of these September or October deadlines apply to you or your business: September 15 – Due date for third quarter installment of 2015 individual estimated income tax. September 15 – Filing deadline for 2014 […]

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Aug 25 Comments

Tax Planning on the Agenda

Tax Planning on the Agenda

As summer winds down, you might want to put serious tax planning on your agenda. Changes that have already taken place (the Supreme Court’s decision on premium tax credits under the health insurance laws, for example) and those that are still in limbo (tax extenders) can affect what you’ll pay this year. The June Supreme […]

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Aug 13 Comments

What to Do If Your Identity Has Been Stolen

What to Do If Your Identity Has Been Stolen

Have you gotten a tax bill you weren’t expecting based on income you never received? Has your federal income tax return been rejected, or your refund delayed? These unanticipated incidents can indicate your tax identity has been stolen. Here’s what to do. – File Form 14039 with the IRS. The Identity Theft Affidavit notifies the […]

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Jul 13 Comments

No Change to Affordable Care Act Credit

No Change to Affordable Care Act Credit

In June, the U.S. Supreme Court decided the fate of the premium tax credit under the Affordable Care Act. The Court ruled that the credit applies to health insurance exchanges established by individual states as well as exchanges established by the federal government. What does that mean for you? Essentially, the decision means that nothing […]

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Jul 6 Comments

Plan Your Capital Gains

Plan Your Capital Gains

Your summer portfolio review may reveal opportunities for tax planning. Here are capital gain rules to consider. * You have a capital gain when the amount you sell an asset for exceeds your basis in that asset. Capital gains can be offset with current year capital losses as well as losses you carry forward from […]

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Jun 17 Comments

Be Sure to Meet These June Deadlines

Be Sure to Meet These June Deadlines

Be Sure to Meet These June Deadlines Monday, June 15 * Make the second quarterly payment of your estimated income tax. * Is your business a corporation with a calendar year-end? Today’s the due date for second quarter corporate estimated payments. * If you’re a U.S. citizen, resident alien, or member of the military living […]

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