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Arlington Tax Firm  // Posts tagged as "Arlington Tax Firm"

17 Mar Posted by in Newsletters | Comments

April IRA Deadlines Fast Approaching

April IRA Deadlines Fast Approaching

As tax day approaches, there are two other April deadlines that may apply to you. If you have an IRA, take note of these dates: April 1 – If you turned 70½ in 2016 (six months after your 70th birthday), you must take your first required minimum distribution (RMD) from your IRA by April 1. […]

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06 May Posted by in Newsletters | Comments

Estate Executors: Add This New Task to Your To-Do List

Estate Executors: Add This New Task to Your To-Do List

If you’re an estate executor and you’re required to file an estate tax return, the IRS has a new form for you: Form 8971, Information Regarding Beneficiaries Acquiring Property From a Decedent. The form is designed to report to the IRS and to the beneficiaries the final estate tax value of property distributed or to […]

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16 Feb Posted by in Newsletters | Comments

Depreciation Tax Breaks and Changes to Asset Purchases

Depreciation Tax Breaks and Changes to Asset Purchases

You’ve already heard that depreciation tax breaks were extended for 2015. But do you know the same extenders law made modifications to the Section 179 expensing election for 2016? These modifications took effect as of January 1. Here’s what you need to know as you make asset purchasing decisions this year. Section 179 overview. The […]

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20 Jan Posted by in Newsletters | 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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30 Dec Posted by in Newsletters | 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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13 Nov Posted by in Newsletters | 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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06 Apr Posted by in Newsletters | Comments

Should I Update My W-4?

Should I Update My W-4?

Remember the tax form you filled out when you first got your job ‒ the form that told your employer how to calculate your federal income tax withholding? That was Form W-4, Employee’s Withholding Allowance Certificate. If you received a big tax refund or owed the IRS a lot of money for 2014, it’s probably […]

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