Sometimes big IRS related terms can mean BIG trouble If you have problems gettin to sleep at night and you turn to the IRS tax code for help, you might find some vocabulary that is very foreign to words you use every date. One of the more
Read more →IR-2012-102, Dec. 19, 2012 WASHINGTON — Individuals and businesses making contributions to charity should keep in mind some key tax provisions that have taken effect in recent years, especially those affecting donations of clothing and household items and monetary donations. Rules for Clothing and Household Items To
Read more →The IRS recently announced mileage rates to be used for travel in 2013. The Business, Medical, and Moving mileage rates increase one cent versus 2012. Unfortunately, the rate to be used for Charitable travel is unchanged because updates in this area require Congressional action. Remember to create
Read more →What to do about your need for documentation Year-end is a good time to ensure you have proper documentation to substantiate your tax deductions. This is important as many banks start deleting online documentation that is over one year old. Background Two things have happened over the
Read more →Here are 6 ideas that most people can use While 2012 winds down, there is still time to reduce your tax burden. Here are six ideas that can save money for most of us. Pre-tax Savings. Take advantage of opportunities to set aside income on a pre-tax
Read more →Wednesday, Dec. 5 – Federal payroll tax deposit due for payments made on Nov. 28-30 if subject to the semiweekly deposit rule. Friday, Dec. 7 – Federal payroll tax deposit due for payments made on Dec. 1-4 if subject to the semiweekly deposit rule Monday, Dec. 10
Read more →The IRS has made the following announcement in regard to reflief for victims of Hurricane Sandy: ” IR-2012-82, Oct. 31, 2012 WASHINGTON — The Internal Revenue Service today announced it is granting taxpayers and tax preparers affected by Hurricane Sandy until Nov. 7 to file returns and accompanying payments
Read more →Fri, Nov. 2 – Deposit payroll tax for payments made on Oct 27-30 if the semiweekly deposit rule applies. Wed, Nov. 7 – Deposit payroll tax for payments made on Oct 31 – Nov 2 if the semiweekly deposit rule applies. Fri, Nov. 9 – Deposit payroll
Read more →In an October 16, 2012 press release, the Social Security Administration (SSA) announced and increase in monthly Social Security and Supplemental Security (SSI) benefits. The 1.7 increase represents a cost-of-living adjustment (COLA) that will begin for Social Security beneficiaries in January 2013 and for SSI beneficiaries on
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