by | Nov 30, 2012 | Current Affairs, Income Taxes, Tax Tip of The Week
Now that the election is over, Congress is finally concentrating on the “fiscal cliff” and its “Taxmageddon” element. If they do nothing, a massive tax increase will hit every taxpayer and worker. It is doubtful that Congress will allow so many Americans...
by | Nov 16, 2012 | Accounting & Bookkeeping, Business Success Series, Current Affairs, Income Taxes, Tax Tip of The Week
Now that the election is over, Congress is finally concentrating on the “fiscal cliff” and its “Taxmageddon” element. If they do nothing, a massive tax increase will hit every taxpayer and worker. It is doubtful that Congress will allow so many Americans...
by | Nov 7, 2012 | Income Taxes, Tax Tip of The Week
When you receive a W-2G for gambling winnings, you are allowed to deduct your losses up to the amount of your winnings. But you must be able to prove your losses with some form of documentation. In a recent Tax Court case (Rios, TC. 2012-1128) the taxpayer was...
by | Oct 26, 2012 | Current Affairs, Income Taxes, Small Business Owners
What does that mean to the small business owner? That is not a misprint! In the minute it will take you to read this article (better read fast!), the federal government will spend over $2 million more than the taxes it takes in. You can easily verify this...
by | Oct 17, 2012 | Income Taxes, Small Business Owners
Yes—we did survive the October 15th extension deadline for filing 2012 individual income tax returns. Barely! During the two week run-up to Monday, I had a chance to speak with two other CPAs, and as CPAs are prone to do, we complained to each other about the...
by | Oct 5, 2012 | Current Affairs, Income Taxes
What Smart Business Owners Must Do in the Next Four Months First, take year-end tax planning seriously! Every business owner and taxpayer should get with their tax preparer and evaluate the effect of these higher taxes on their business. We will discuss...
