Unemployment Tax Breaks
Nov 08, 2011
With rising unemployment showing no signs of ending anytime soon, the following will discuss some of the current tax breaks for those who find themselves looking for new employment.
Unemployment Benefi...
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How Long to Keep Records
Nov 07, 2011
We are often asked how long records should be maintained for tax and other financial purposes.Here is a short list of how long they should be kept:
1 Year:
Credit card statements not used to su...
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Home Office Rules
Nov 07, 2011
All taxpayers who claim a home office deductionneed to make sure they have excellent records to support the tax deduction. For instance, if you meet clients or customers in your home office, you must u...
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Profit Motives and Businesses
Nov 07, 2011
All taxpayers who operate a business (home based or otherwise) must be able to demonstrate that they intended to make a profit before they are entitled to deduct any losses for tax purposes.Of course, ...
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Conventions/Seminars and Tax Deductions
Nov 07, 2011
So you are heading to Las Vegasor Hawaiito attend a seminar or convention for your business.Of course, you also want to have some fun while you are there(all work and no play makes one a dull person!)....
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IRS Auditing Real Estate investors
Nov 07, 2011
The IRS is expanding its audit programs concerning real estate investors after a recent IRS report indicated that at least 53% of all rental real estate taxpayers had errors on their tax returns for 20...
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2011 Tax Brackets
Nov 07, 2011
Married Filing Jointly
Taxable incomeTax Rate
$0-$17,00010% of taxable income
$17,001-$69,000$1,700 plus 15% of excess over $17,000
$69,001-$139,350$9,500 plus 25% of excess over $69,000
$139,35...
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Social Security Solvency
Nov 07, 2011
The Congressional Budget Office (CBO) has released a report discussing the options for Social Security.Currently, theCBO projects that the Social Security Administration (SSA) will run out of funds i...
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Education Expenses and Tax Deductions
Nov 07, 2011
Many clients incur education expenses for attending seminars, conventions and other programs designed to improve your overall business skills.The question, of course, is whether or not these expenses ...
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Ponzi Schemes and Taxes (Losses)
Nov 07, 2011
Many of our clients have been requesting informationon Ponzi schemes and tax losses, as unfortunately there have been many recent pyramid/Ponzi schemes in the news lately (even after Bernie Madoff has...
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