I’ve highlighted below the “permanent” and temporary changes that are a part of the American Taxpayer Relief Act of 2012 that was signed into law by President Obama on January 2nd, 2013. Obviously, there is much more to this […] Read more »
Fiscal Cliff Deal Raises Taxes for Most Americans
Below is a chart that breaks down the average tax increase that Americans are facing due to the Fiscal Cliff Deal. For most people, the ending of the payroll tax break is the reason for most of the increase. […] Read more »
2012 Tax Year: Filing Information
Written on January 7, 2013. 2012 Tax Filing Information for Individuals Here’s what individuals and families need to know about tax changes for 2012. Personal Exemptions The personal and dependent exemption for tax year 2012 is […] Read more »
Year-End Donation Reminders
Written on December 22, 2012. Year-End Donation Reminders I received an email the other day from a client who wanted to know the tax laws for year-end dontations. Specifically, she wanted to know if a […] Read more »
Gift Giving and Tax Deductions
Do you spend more money this month than usual? I know I do…or at lease my “household” does! If part of your spending is giving extra to charities, churches, and events, here are some tax […] Read more »
Understanding the 3.8% Real Estate Tax
Written on December 10, 2012. You may or may not have heard, but included in the new health care bill is a 3.8% tax on some real estate transactions beginning January 1, 2013. There have been […] Read more »
Fiscal Cliff: What is it? Should You Care?
Written on November 26, 2012 Have you heard about the “Fiscal Cliff?” The Fiscal Cliff is the term being used to explain the automatic spending cuts and tax increases that will occur on January 1st […] Read more »
Donate Your Goods and Save Money on Taxes!
Are you ready to do some spring cleaning? I know I am! One of my goals this summer is to do some “spring cleaning.” Since most of my spring is spent doing taxes and wrapping […] Read more »
Tax Records You Can Throw Away!
During tax season I often get asked about what tax records should be kept and for how long. For this week’s post, I’m going to focus on the basics and provide some good general rules […] Read more »
Say ‘Goodbye’ to the Making Work Pay Credit
For the past two tax years – 2009 & 2010 – many of us have received the Making Work Pay Credit. This credit expired at the end of 2010, and was not part of the […] Read more »