Category Archives: IRS

Have you received an IRS notice?




Here’s what to do. The full article from IRS.gov is copied below. What to do if You Get a Notice from the IRS IRS Summertime Tax Tip 2014-01, July 2, 2014 Each year the IRS mails millions of notices. Here’s … Continue reading






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2014 Standard Mileage Rates (IRS)




Here they are. 2014 Standard Mileage Rates IR-2013-95, Dec. 6, 2013 WASHINGTON — The Internal Revenue Service today issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or … Continue reading






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Affordable Care Act (ACA) Tax Provisions




Need help understanding the Affordable Care Act’s tax provisions? Your local CPA is a good source for information, but so is the IRS itself. See here for a link to a helpful page on the IRS’s website. William A. Olson, … Continue reading






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Mid year 2014 Tax Planning




It is almost June 30th which means we are about half way through 2014. It is not too late or too early to do some tax planning to manage your tax liability. Common strategies/suggestions for lowering your tax liability include: … Continue reading






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Health Insurance Premium Tax Credit Calculator




Under the Affordable Care Act, individuals and families at or below 400% of the poverty level will be eligible for Health Insurance Premium tax credits under the Affordable Care Act. For a family of four, 400% of the poverty level … Continue reading






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New Method for Calculating the Home Office Deduction (Journal of Accountancy)




Very simply, the new method available for tax years 2013 and after, allows you to calculate your home office deduction by multiplying the square footage of your home office by $5 (max = 300 square feet or $1,500). The qualifications … Continue reading






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The Employer Mandate in the Affordable Care Act Delayed until 2015




A mandate in the Affordable Care Act, President Barack Obama‘s signature domestic law, will be put partially on hold until 2015. The mandate requires companies with at least 50 or more full-time employees to provide healthcare coverage or face penalties up to $3000 per worker. … Continue reading






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Tax planning ideas for 2013 from the AICPA




It’s never too early to be thinking about tax planning for 2013… in fact, the sooner the better. Here’s a link to the AICPA’s 2013 tax planning guide.






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Waiting for your refund? IRS slowly catching up (USA Today)




The Internal Revenue service is catching up on processing tax returns in this delayed tax-filing season, but it’s still behind last year’s pace. The IRS says it has processed 77.1 million tax returns through March 22, vs. 82 million from … Continue reading






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Mid Year Tax Planning Ideas




From TaxSlayer.com… some of these are too late to do but will work for next year. Although TaxSlayer.com can’t promise everyone a refund, we can say if you follow these 8 tips you should be on your way to a … Continue reading






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