Tax advisers, including our tax attorneys and accountants at Kingman Winslow, LLC, are already making special plans ahead of filing season next year, when they expect big problems if Congress doesn't confront major tax provisions set to expire at the end of 2012. For example, Income-tax rates, investment taxes, some itemized deductions, estate and gift [...]
Believe it or not, it’s already time to start thinking about filing your 2011 tax return. By now you should have received your W-2 form(s), a variety of 1099 forms, etc. With that in mind, I thought I would give you a little information on when your 2011 federal income tax return is due. As [...]
There is always something new when it comes to tax rules and regulations that impact your real estate and business transactions. Missing these items can also leave you paying more in taxes then you are required to under the law. The following are a few changes, which will likely impact your taxes in 2012. It [...]
The “Occasional Baby Sitting” Tax Exemption If you need a baby sitter during the year keep in mind that it could be tax deductible! The current FICA threshold of $1,700 per calendar year will increase to $1,800 in 2012. Sometimes referred to as the "Casual Babysitting Exemption," the new FICA threshold means that families who [...]
The Internal Revenue Service in coming days will release a new information reporting form that taxpayers will use starting this coming tax filing season to report specified foreign financial assets for tax year 2011. Form 8938 (Statement of Specified Foreign Financial Assets) will be filed by taxpayers with specific types and amounts of foreign financial [...]
Getting read to wrap up your end of year finances? Here are some tips on those pesky taxes. The “Occasional Baby Sitting” Tax Exemption So if you need a baby sitter during the holidays keep in mind that it could be tax deductible! The current FICA threshold of $1,700 per calendar year will increase to [...]