Income Tax
More Estate Planning Opportunities Forecasted for Roth 401(k)s
A new study reveals more employers will offer Roth 401(k)s to their employees in 2013. About a third of all employers surveyed…
Singles & Couples: Muni-Bond Tax Breaks Disappearing–Maybe
What may become part of the “fiscal cliff” drop—and if not, it will be on the 2013 agenda—is the elimination of municipal-bond…
Top Income Tax Return Mistakes in 2012
The IRS has compiled a list of the top five errors on on 2012 income tax returns, both taxpayer-prepared and those prepared…
Self-Directed IRAs – Exercise Caution
A self-directed IRA is an IRA held by a custodian that allows investments in a broader class of assets than allowed by…
Supreme Court Clears Way for Affordable Care Act Taxes
The Supreme Court’s recent decision to uphold the Affordable Care Act will have considerable tax consequences for both high-income as well as…
New IRS Procedures Help U.S. Citizens Living Abroad
The IRS has announced plans for new streamlined procedures that will allow U.S. citizens residing overseas, including dual citizens, to get current…
Keep Track of IRS Rules on IRAs and Other Retirement Accounts
Owners of individual retirement accounts might face increased scrutiny by the IRS in the near future, posing the danger of hefty penalties…
College Expense Tax Benefits
The IRS has just issued a Last Minute Reminder to Parents and Student; Don’t Overlook College Tax Benefits. It provides a good…
Haven’t Filed Your Taxes Yet? Here are Some Tips
While no substitute for the advice and assistance of a tax professional, The American Institute of Certified Public Accountants (AICPA) offers 10 Tips…
S Corporation Service Firm Owners Beware
S Corporation owners who are service providers often take a low salary so that they can receive most of the firm’s profits…