Personal Tax Advice

Do You Have Passive Activity Losses?

Do You Have Passive Activity Losses?

August 25, 2013  |   Posted by :   |   Personal Tax Advice,Tax Tips   |   Comments Off»

Are you aware that there are certain types of investments that create passive income which can offset suspended passive losses, when applicable, resulting in a tax-free income stream until those losses are exhausted. Common passive activity losses (which are ...

Possible Tax Pitfalls and Uncertainties We’re Facing Heading Into 2013

Possible Tax Pitfalls and Uncertainties We’re Facing Heading Into 2013

October 29, 2012  |   Posted by :   |   Business Tax Advice,Personal Tax Advice,Tax Tips   |   Comments Off»

There are major uncertainties that we are facing in regards to the 2012 tax year and subsequent years. A combination of events – including possible expiration of some or all of the Bush era tax cuts after 2012, the ...

IRS Announces New Mileage Rates for 2nd Half of 2011

IRS Announces New Mileage Rates for 2nd Half of 2011

July 08, 2011  |   Posted by :   |   Business Tax Advice,Personal Tax Advice,Tax Tips   |   Comments Off»

If you use your vehicle for work, medical purposes or moving, be aware of changes to the amount you can deduct for your mileage for the next 6 months. In a statement released on June 23rd, 2011, the IRS announced an ...

Tax Preparation. 7 Considerations and Questions before hiring a tax preparer.

Tax Preparation. 7 Considerations and Questions before hiring a tax preparer.

January 28, 2010  |   Posted by :   |   Personal Tax Advice,Tax Tips   |   Comments Off»

Before you take your tax return in to the nearest tax preparation service around the block, consider this advice from the IRS: “Taxpayers who decide they need ...

Reduce Your Late Filing Penalty to the IRS

Reduce Your Late Filing Penalty to the IRS

April 23, 2009  |   Posted by :   |   Personal Tax Advice,Tax Tips   |   Comments Off»

[caption id="attachment_334" align="aligncenter" width="500" caption="Filing Tax Returns Late can be very costly."][/caption] Let's face it, filing your tax return is not the most exciting ...

Organizing Your Personal Financial and Tax Records Pays Off

Organizing Your Personal Financial and Tax Records Pays Off

February 08, 2009  |   Posted by :   |   Personal Tax Advice,Tax Tips   |   Comments Off»

As we are a full month into 2009, I wonder how you are doing with any resolutions you may have made.  It seems every year I have a couple of clients tell me they need to get organized.