Be Diligent About Saving Your Tax Records
You’re probably getting ready to sort out last year’s financial records and prepare for this year’s recordkeeping. But what should you keep and what can you throw away? Here are some suggestions.
Author Archive for: Keller & Owens
Entries by Keller & Owens
Some Deductions Are Available Even If You Don’t Itemize
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:
Four Tax Tips Regarding Tip Income
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:
Six Important Facts about Dependents and Exemptions
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
Tax Time is the Right Time for a Financial Review
Now is an ideal time to review your financial affairs. You have to gather information to prepare your tax return at this time. Why not take one more step and do something positive for your financial well-being?
Recordkeeping is Required for Charitable Deductions
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.
Don’t be Scammed by Cyber Criminals
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
Bring Your Corporate Minutes up to Date
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
New Law Creates Incentives to Hire Unemployed Veterans
On November 21, 2011, President Obama signed the “Three Percent Withholding Repeal and Job Creation Act.”
IRS Announces Standards for Continuing Education Providers
WASHINGTON—The Internal Revenue Service today announced the standards to become an IRS-approved Continuing