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The Federal Government avoided the Fiscal Cliff...Well, for now any way.
At the very last minute they passed the American Taxpayer Relief Act of 2012. Here are some of the highlights:
The New Year’s celebrations are over.
It’s on to 2013.
Will this be unlucky 2013 for taxpayers?
We wrote earlier how there are 8 Reasons You Will Pay More Taxes in 2013…Guaranteed.
We also pointed out Why the Fiscal Cliff is Fiscally Irresponsible.
The reality is there will be tax increases. … Continue reading »
Donors should give appreciated property to their favorite charity. Appreciated property is property whose Fair Market Value exceeds the cost basis. Cost basis is generally what was paid for an item.
When was the last time you checked your beneficiary designations for your retirement accounts that were established years ago? Beneficiaries are the individuals or entities (such as a charity) that you name to receive these assets upon your death. You may find that your designated beneficiary is not who or what you think it should be, especially if you have divorced, remarried or had children since your retirement plan … Continue reading »
In December, 2010 President Obama signed into law the tax bill which extends many of the Bush-Era federal income tax cuts and the Pension Protection Act of 2006. This law has extended the provision that allows some people to make qualified charitable distributions from their IRAs.