If you own foreign investments, you may have an additional federal tax filing requirement this year. Read more →

If you’ve given up itemizing deductions, you’re not alone. These days over half of all taxpayers find they’re better off using the standard deduction. But even if you take the standard deduction, you can also deduct some individual expenses on your 2011 tax return, including the following: Read more →

Don’t miss these deadlines if they apply to your business:  Read more →

WASHINGTON – IRS TAX TIP 2012-20 –  Make sure you have all the needed documents, including all your Forms W-2, before you file your 2011 tax return. You should receive an IRS Form W-2, Wage and Tax Statement, from each of your employers. Employers have until Jan. 31, 2012 Read more →

Check your children’s need to file a 2011 tax return. A return is needed if wages exceeded $5,800, the child had self-employment income over $400, or investment income exceeded $950. If the child had both wages and investment income, other thresholds apply. Contact us for any filing assistance you may need.

WASHINGTON – IRS TAX TIP 2012-14 – If your pay from work involves compensation through tips, then the IRS would like you to be aware of a few facts about tip income. Here are four key points to keep in mind: Read more →

WASHINGTON – IRS TAX TIP 2012-07 - Even though each individual tax return is different, some tax rules affect every person who may have to file a federal income tax return. These rules include dependents and exemptions. The IRS has six important facts about dependents and exemptions Read more →

Get the documentation you’ll need for all your 2011 charitable contributions, or you risk losing your deduction. Even gifts under $250 require a bank record or a receipt from the charity.

WASHINGTON – IRS TAX TIP 2012-08 – The Internal Revenue Service receives thousands of reports each year from taxpayers who receive suspicious emails, phone calls, faxes or notices claiming to be from the IRS. Many of these scams Read more →

Writing up the minutes of board of directors’ meetings is not exactly a high priority for most business owners. Yet well-documented corporate minutes can provide Read more →