Category Archives: Tax

Posted on March 1, 2012

Payroll Tax Holiday Extended for All of 2012

On February 22, President Obama signed the Middle Class Tax Relief and Job Creation Act of 2012. The new law extends the employee-side payroll tax holiday, giving wage earners and self-employed individuals 12 months of reduced payroll taxes in 2012. … Continue reading →

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Posted on February 27, 2012

Middle Class Tax Relief and Job Creation Act of 2012

On February 22nd, President Obama signed into law a much anticipated extension of the employee side payroll tax cut through the end of 2012. After weeks of uncertainty over whether an agreement could be reached, the House passed the Middle … Continue reading →

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Posted on February 22, 2012

What Tax Breaks Come with Raising a Child?

To read more about Young Children and Tax Credits, click on the article written by Shelly Toft: Young Children and Tax Credits. Taxpayers with children should be aware of the numerous tax breaks for which they may qualify. Among them … Continue reading →

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Posted on February 2, 2012

Congress Begins Work on Payroll Tax Extension as White House Unveils New Proposals

The fate of the employee-side payroll tax cut along with a host of tax extenders and other expired provisions could be decided in coming weeks. A conference committee of House and Senate members is negotiating a full-year extension of the … Continue reading →

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Posted on February 2, 2012

Sweeping New IRS ‘Repair Regulations’ Impact Most Businesses

The IRS has released much-anticipated temporary and proposed regulations on the capitalization of costs incurred for tangible property. They impact how virtually any business writes off costs that repair, maintain, improve or replace any tangible property used in the business, … Continue reading →

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Posted on January 25, 2012

A Guide to Gift and Estate Planning

In the following guide you will find an assortment of recommendations to reduce or shift value from a personal estate. These techniques will reduce the potential estate tax upon death. Topics will include gift planning, a variety of trusts and … Continue reading →

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Posted on January 13, 2012

New 2011 1099-K Reporting Now Effective

Effective for the tax year 2011, there are significant changes for businesses that pay vendors via credit card or accept credit card payments. The IRS has created a new 1099-K form to report credit card activity. This new form will … Continue reading →

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Posted on January 11, 2012

Involuntary Conversion for Residence and Personal Property

On May 22, 2011 many people in our area experienced not only a devastating tornado, but also a tax event. No matter how painful or traumatic the events of that day were, we as a community, individuals and organizations must … Continue reading →

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Posted on January 9, 2012

Income Tax Seminar for Mary Kay Consultants

To view the notes and guidelines from Judy Gann’s presentation, please click on the link below. Income Tax Seminar for Mary Kay Consultants

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Posted on January 4, 2012

Young Children and Tax Credits

This is article number six in our series of Tax Credits. Click here to read the previous articles. Child and Dependent Care Credit If you pay someone to care for your child, spouse or dependent, you may be able to … Continue reading →

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