Income Tax

Top Income Tax Return Mistakes in 2012

Posted on: September 7th, 2012
The IRS has compiled a list of the top five errors on on 2012 income tax returns, both taxpayer-prepared and those prepared by paid preparers (I intentionally don’t use the word professional, as many preparers have little training). ...

Self-Directed IRAs – Exercise Caution

Posted on: July 14th, 2012
A self-directed IRA is an IRA held by a custodian that allows investments in a broader class of assets than allowed by most IRA custodians, such as real estate, promissory notes and private placement securities....

Supreme Court Clears Way for Affordable Care Act Taxes

Posted on: July 2nd, 2012
The Supreme Court’s recent decision to uphold the Affordable Care Act will have considerable tax consequences for both high-income as well as middle-class Americans. ...

New IRS Procedures Help U.S. Citizens Living Abroad

Posted on: June 29th, 2012
The IRS has announced plans for new streamlined procedures that will allow U.S. citizens residing overseas, including dual citizens, to get current with their tax filing obligations without facing penalties or additional enforcement action. ...

Keep Track of IRS Rules on IRAs and Other Retirement Accounts

Posted on: June 26th, 2012
Owners of individual retirement accounts might face increased scrutiny by the IRS in the near future, posing the danger of hefty penalties for account mistakes that have previously gone unnoticed....

College Expense Tax Benefits

Posted on: April 11th, 2012
The IRS has just issued a Last Minute Reminder to Parents and Student; Don’t Overlook College Tax Benefits. It provides a good overview and lots of links to other resources....
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