Income Taxes
Happy Holidays!…. Extender Package Passed!
As discussed in my blog on December 11, 2014… the extender package has been signed by President Obama. ADVICE: Carefully review this signed extender bill, contact your CPA immediately to see if you can use any applicable provisions prior to year end to reduce your...
Good News from Congress prior to Year End? Not Yet but Hopefully!
Many tax “breaks” are renewed yearly but lately they have been renewed later and later in the year for the year that they are applicable. For 2014 planning, Congress is JUST NOW reviewing a bill that would extend certain tax breaks for 2014. This delay often creates...
New Social Security Law Change…
Many of us are reaching the age when we have to consider when we are going to collect social security. Help in making that decision can be found on the Consumer Financial Protection website. The law has recently changed regarding file and restrict and file and...
Are YOU a Responsible Person?
Most of the time we would like to think we are responsible. However in the payroll tax world that may NOT be good thing. In a business environment if you are an officer, no matter what type of officer, you could be deemed a “responsible person” and if the person in...
FBAR Penalties…Not Even Death Is An Escape!
Congress enacted the Currency and Foreign Transactions Reporting Act (the “Act”) to combat money laundering in the United States. As part of that Act, United States “persons” are required to file a Foreign Bank Account Report (“FBAR”) indicating their financial...
Hurricane Relief by IRS!
Unfortunately, many of us have been affected by Hurricane Irma. Fortunately the Internal Revenue Service (“IRS”) recognizes the devastation caused by these natural disasters which affect taxpayers, not only emotionally and physically, but financially. In a recent news...