Mid-Year Tax Planning

Tax Season 2014 has come and gone and now it’s time to think about tax planning for tax year 2014. Items which could impact your 2014 taxes include certain life events and expired tax provisions. Certain Life Events Have you recently had a birth, adoption or death in your family? Have you married, divorced, retired, […]

Summer Weddings Mean Tax Changes

Taxes may not be high on your summer wedding plan checklist. But you should be aware of the tax issues that come along with marriage. Here are some basic tips that can help keep those issues to a minimum: 1. Name change The names and Social Security numbers on your tax return must match your […]

New Tax Scam

It has come to my attention that a lot of people are starting to get phone calls from the government (Federal or State) and demands for payment on taxes owed. Please do not give anyone calling you any sensitive information! Neither Federal or State governments make calls of this nature. If you have received a […]

IRS Adopts “Taxpayer Bill of Rights”

The Internal Revenue Service today announced the adoption of a “Taxpayer Bill of Rights” that will become a cornerstone document to provide the nation’s taxpayers with a better understanding of their rights. The Taxpayer Bill of Rights takes the multiple existing rights embedded in the tax code and groups them into 10 broad categories, making […]

Affordable Care Act – Individuals

New IRS Publication Helps You Find out if You Qualify for a Health Coverage Exemption Taxpayers who might qualify for an exemption from having qualifying health coverage and making a payment should review a new IRS publication for information about these exemptions. Publication 5172, Health Coverage Exemptions, which includes information about how you get an […]

It’s Not Too Late to Report Changes in Circumstances that May Affect Your Premium Tax Credit

If you enrolled in insurance coverage through the Health Insurance Marketplace , you are required to report changes to the Marketplace when they happen, like changes to your household income or family size, because they may affect your eligibility for the advance payments of the premium tax credits. Changes in circumstances that you should report […]

Plan Now to Get Full Benefit of Saver’s Credit; Tax Credit Helps Low- and Moderate-Income Workers Save for Retirement

Low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2014 and years ahead, according to the Internal Revenue Service. The saver’s credit helps offset part of the first $2,000 workers voluntarily contribute to IRAs and 401(k) plans and similar workplace retirement programs. Also known as […]

Save Twice with the Saver’s Credit

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 save for your retirement and save on your taxes with a special tax credit. Here are six tips you should know about this credit: 1. Save for retirement. The […]