What is a 1031 Exchange?
15
Oct
What is a 1031 exchange? A 1031 exchange is something that anyone who owns multiple pieces of business property will want to consider. A 1031 exchange is one of the more complicated procedures available for real estate investors; It is...
Tax Benefits for Military Personnel and Families
11
Oct
There are tax benefits available for military personnel and families. These tax benefits are often overlooked. For example, any monthly military pay earned while in a combat zone, or any hostile fire and imminent danger pay are tax exe...
Tips for Safeguarding Your Tax Records
12
Sep
As hurricane season approaches, it is a good reminder to review the procedures in place that safeguard your tax records. Unfortunately more often then not this advice tends to get ignored. Now more then ever it is incredibly easy to sa...
Tax Deductions for Job Search Expenses
01
Sep
There are tax deductions for job search expenses available to taxpayers that meet certain guidelines by the IRS. These job search expenses are also subject to a threshold based on the taxpayer’s income.
In order to be eligible for a...
Tax Deductions for Health Insurance
15
Aug
As a self employed individual, it is often difficult for taxpayers to purchase and maintain their own health, dental, and long-term care insurance. Health insurance becomes even more expensive when you add a spouse and a dependent as w...
Tax Tips on Selling Your Home
01
Aug
If you have recently sold your home, or are in the process of selling your homes there are a few tips that the IRS wants to remind all sellers. The most important is the ability to deduct up to $250,000 on any income gained from selli...
Helpful Features on the IRS Website Worth Checking Out
26
Jan
Have you checked out the IRS Website lately? I’m sure you have it bookmarked and read the news and publications routinely like me. Okay, that may not be true for all of you since the Code can be pretty dry and difficult to translate. A...
Tax Deadline Extended
11
Jan
As the tax season officially begins, the IRS has announced that the tax deadline for individual taxpayers has been extended to April 17, 2012. Taxpayers will have until Tuesday, April 17, 2012 to file and pay any taxes due since April ...
Earned Income Tax Credit…Spread the Word!
03
Jan
The IRS encouraging tax professionals and taxpayers, in general, to help spread the word of the Earned Income Tax Credit (EITC). As a CPA, I am doing my part to make a blog post on my website and spread it via various social media. I a...
Learn More about Tax Deductions for Charitable Contributions
17
Dec
As the year-end approaches there are a few items about tax deductions for charitable contributions to note that may help you gather your tax information for the current year as well as help yourself become more organized going forward....
Information on the Massachusetts Cigarette Excise Tax
17
Dec
There is a lot that you may not know about the Massachusetts Cigarette Excise Tax and the penalties associated with purchasing or possessing “unstamped cigarettes” under Massachusetts law.
It is no secret that Massachusetts resident...
Go Green in 2011? Home Energy Tax Credits Still Available
09
Dec
Going green will save you green. There were two tax credits available to taxpayers in 2011 for their efforts to conserve energy and make their homes more green friendly. These tax credits were the Nonbusiness Energy Property Credit and...
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