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Another Tax Season has come and gone. Here are the 5 Lessons Learned from this Tax Season.
Congress passed the American Taxpayer Relief Act on December 31, 2012. It’s clear that no one voting on it read it, much less understood it. The timing of this legislation was not good. Due to the late passage of this bill the IRS was … Continue reading »
This question is asked frequently during tax season.
I suspect it will be asked even more this tax season.
There will likely be even more delays this year than in past years. Congress passed The American Taxpayer Relief Act of 2012 on the last day of 2012. President Obama signed this legislation on January 2, 2013. This has delayed the IRS, which … Continue reading »
Here are 4 ways to Help Your CPA and Reduce Your Taxes:
1) Have a Year End Planning Meeting with Your CPA
This meeting can be in person or over the phone, it really doesn't matter. The only thing that matters is that it happens. Most individual income taxpayers are on the cash basis. This means, with some limited exceptions, for a taxpayer to take advantage of … Continue reading »
19 Kids and Counting is TLC's TV show about the Duggar family. I'm not sure what is scarier, the fact that they already have 19 kids or the rest of the title…"and Counting."
Form 709, is required to be filed if a gift is made to someone for more than $13,000 in one year. Gifts between spouses are not required to file. Gifts can be made to an unlimited number of people in a year provided they are below the $13,000 per person annual exclusion.