Consider your Marital Status If you’re planning a wedding or divorce soon, be aware that your marital status as of December 31 determines your tax status for the whole year. Changing the date of a year-end or new-year event could save taxes. Blog The Latest Insights...
Important Deadline Looming for Tax Exempt Organizations Here’s an important reminder for small nonprofit organizations: If your organization had its tax-exempt status revoked for failing to file an annual return from 2007 through 2009, the IRS is giving you a chance...
Final Tax Deadlines are Approaching! Tick-tock. Time is almost up on that six-month extension you filed back in April to give yourself more time to complete your 2011 individual income tax return. What happens if you fail to file your return by October 15, the...
Avoid Underpayment Penalties Don’t let penalties for underpaid taxes increase your tax bill next April. Check the total tax you’ve paid in for 2012 through withholding and/or quarterly estimated payments. If you’ve underpaid, consider adjusting your withholding for...
Tax Planning Begins Now! Now that the end of the year is approaching, be sure to contact the office for a tax planning appointment if you’ve encounted aany significant changes in your tax lives like a sudden increase in wealth or maybe even a loss. With rate changes...
Flexible Spending Account Changes Flexible spending accounts (FSAs) are popular with employees because they permit the use of pretax dollars for payment of medical expenses and dependent care costs. If you use an FSA, be aware that changes are scheduled beginning...
