by Marianne Kingman | Jun 4, 2012 | Asset Protection, Financing, Legal Procedures, Tax Law
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...
by Marianne Kingman | Apr 10, 2012 | Tax Law
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...
by Marianne Kingman | Mar 27, 2012 | Tax Law
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...
by Marianne Kingman | Feb 14, 2012 | Tax Law
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...
by Marianne Kingman | Jan 23, 2012 | Tax Law
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...
by Marianne Kingman | Dec 15, 2011 | Tax Law
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...
by Marianne Kingman | Sep 23, 2011 | Investing, Tax Law
1. Investment Income: The capital gains and dividend tax rate will stay at 15% until at least the end of 2012. For any non-tax deferred investing you plan on doing, make sure you take advantage of the low 15 percent capital gains tax rate now, because the chances of...
by Marianne Kingman | Jul 20, 2011 | Tax Law
Q. Do used SUVs qualify for the Section 179 deduction? A. Yes, but make sure the vehicle meets all other requirements, including Gross vehicle weight and business use percentage — 50 percent or more. Also, there are rules concerning how the purchase is made,...
by Marianne Kingman | Jun 17, 2011 | Tax Law
Most new business equipment can be either depreciated over its useful life or expensed immediately under Internal Revenue Code Section 179. The maximum deduction is based on the following schedule for the date in which the tax year begins. Each 1040, whether Single or...
by Marianne Kingman | Jun 6, 2011 | Tax Law
This is the last in a three-part series of articles on the 2010 Tax Relief Act. Previous articles are available in the Member’s Area of www.AZREIA.org or in our blog. Gift Tax Relief For gifts made in 2010, the 2010 Tax Relief Act provides that gift tax is computed...