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Morning All, Many of you take the home office deduction that requires that the area that you use is only used for an office with NO OTHER FURNITURE BUT a, office Desk, Chair, Computer, Printer, File cabinets. Nothing else can be in that room. the home office deduction is based on the...

SORRY ALL NO NOTIFICATION ABOUT ANY NEW PER DIEM RATES, THEN SO FAR, THEY WILL STAY THE SAME $59.00 PER DAY SUBJECT TO 80% AS THE ACTUAL DEDUCTION...

Good Morning All, Mileage Rates Released for 2014 washington, D.C. (December 8, 2013) By Jeff Stimpson The IRS has issued its 2014 optional standard mileage rates to calculate deductible costs of operating an...

New Year-End, New Headaches Ideasfor tax planning as 2013 begins to wind up 09/01/2013 By Roger Russell Despite all therecent tax law changes, most of you taxpayers aren't aware of the steps theyshould take between now and the end of the year to improve their position. By taking...

Hi All, Here is your December 2013 Tax News Letter, which you might be a little uneasy with, Especially with the Affordable Care...

Morning All, Its that time of year again, and you should start getting your tax information together for you accountant/tax preparer. It does not normally work out this way due to the holiday's and all, but instead of going into the truck stop and playing vending machine games, or...

Hi All, For those who have not filed there tax returns for 2012 yet, I hope you filed for an Federal Extension, and some states require that you filed a paper extension with them in order to say the late filing fee involved for both. it is roughly 22-25% of the tax owed if any. If you...

Hi Again, Update (continue) 11. Standard Mileage Rate for 2013 56.5 cents per mile 12. 50% bonus Depreciation can still be used for New assets placed in service in 2013 13. and the total 179 deduction for 2013 is still $500,000 for all assets.put into service in 2013 14. The Per diem rate...

Evening all, Here are a few tax update that you might be interested in. The New Standard Deductions are. 1. For Married Couples is........................................ $ 12,200 1 a. Married 1 spouse over 65..................................$ 13,400 2 b Married both over...

Renting Your Home or Vacation Home If youown a home in a vacation locale – whether it is your primary residence or avacation home – and are considering renting it out to others, there arecomplicated tax rules referred to as the “vacation home rental rules”that you need to be aware of...

Partnership, S-Corp and TrustExtensions End September 16 ArticleHighlights September 16 is the extended due date for partnership,S-corporation, and trust tax returns. Late-filing penalty for partnerships and S-corporations is $195 times the number of partners or shareholders during any part of...

Hi all, here is the New letter for September, Even if they do not pertain to you check them out anyway. Who Gets Your IRA The designated beneficiary listed on yourIRA account beneficiary form determines who gets your IRA. This is true even ifyour will or trust names different...

MANDATORY HEALTH INSURANCE WILL BEGIN ON JANUARY 1, 2014 Beginning in 2014 the Patient Protection & AffordableCare Act (the health care legislation sometimes known as Obama Care) will impose the new requirement that U.S. persons, with certain exceptions, have minimal, essential health care...

Hi, Continuation of Newsletter- 8. Basic Medicare Premium's increase to $104.90 per Month in 2013,but Part B & D premium's are much higher for upper income seniors if theremodified adjusted gross income for tax year 2011 exceeded $170,000. for coupleswho file a joint return or $85,000 for single...

Dear Clients and possible new clients We are making this newsletter available to you in time for the ExpoTomorrow and for the month of August. There are a number of New Tax Rules that you will have to be aware offor this tax filing season and beyond. 1. For those of you who are Company Drivers...

Documenting Charitable Contributions A frequently asked question is, “What records are required for charitable contributions?” In recent years, Congress has passed stringent record keeping rules for charitable contributions as well as harsh penalties for understating taxable income. The...

Hi All, Here is this months Newletter for your information Mid-Year Tax Planning Checklist All too often, taxpayers wait until after the close of the tax year to worry about their taxes, missing opportunities that could reduce their tax liability orhelp them...

Newletter (continued) Tips for Students and Parents Paying College Expenses Whether you’re a recent high school graduate going to college for thefirst time or a returning student, paying for college can be a dauntingfinancial task. The following are some tips about education tax benefits...

Dear Valued Client, In this edition of our newsletter, we are covering some important information if you hold a foreign financial account, helpful record-keeping tips and much more. If you see something that you want to talk about, feel free to contact us to explore the possibilities. Please...

Hi All, I am sorry to say that I will not be a Vendor this year at the Expo, This is due to conflicting commitments this year with important tax seminars that I would have to attend that week, this one ends on Friday, and is out of State and there is no way that I will able to be available...