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How to Pay Your Estimated Taxes

Posted in Tax News on September 15, 2013

  Many taxpayers are employees and have their income taxes withheld from their paycheck.  Every April 15th they need to settle up with Uncle Sam and their state tax department.   Other taxpayers may not be employees or have taxes…

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4 Easy Steps to File Your Income Tax Extension

Posted in Tax News on April 7, 2013

Your 2012 income tax return is due on April 15, 2013. What if you can’t get it done on time? Here are 4 easy steps to file your income tax extension.     1) Prepare a Tax Projection

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8 Reasons You Will Pay More Taxes in 2013…Guaranteed

Posted in Tax News on October 30, 2012

  1) Increase in Ordinary Income Tax Rates The highest ordinary income tax rate is 35%.  This is scheduled to go up to 39.6%  

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3 Reasons to Recognize Capital Gains in 2012

Posted in Tax News on July 3, 2012

1) The Long-Term Capital Gains Rate is Going Up Long-term capital gains are for capital assets held longer than a year. Capital assets include stocks, bonds and mutual funds. Collectibles and certain Real Estate are subject to special rules.  The…

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Why The New Medicare Tax May Cost You More Money

Posted in Tax News on June 26, 2012

Current Medicare Tax Currently taxpayers pay 1.45% Medicare Tax on their earned income. This is from a W-2 for employees and net-income from self-employed individuals. The employee pays this amount and the employer matches it, therefore they remit 2.9% to…

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