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Category Archives: 1040 Personal Income Taxes
Mid Year Tax Planning
We are getting very close to the end of the third quarter in 2016 and if your tax bill for 2016 is likely to be much higher (or lower) than it was in 2015, now is the best time to … Continue reading →
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Tax filing due dates
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Trump v. Clinton – Tax Plans
The 2016 election is in full swing… and one thing we all want to know is, how are the candidates proposing to change the tax rates? While Donald Trump proposes to collapse the tax brackets from 7 to 3, Hillary Clinton … Continue reading →
Simple ways to save money
Most people spend a lot of time worrying about how much money that they make and less time worrying about how much money they spend… and a penny saved is not the same thing as a penny earned. Pennies earned … Continue reading →
The Motley Fool: How the 2014 Tax Brackets Work — and How to Make Them Work for You
Here’s a great article that will help you understand the tax brackets and your income tax rate. Many people get confused when I talk about marginal and average tax rates… this article will shed some light on the differences and … Continue reading →
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Three Tax Tips
Give yourself a raise. If you got a big tax refund this year, it meant that you’re having too much tax taken out of your paycheck every payday. Filing a new W-4 form with your employer (talk to your payroll office) … Continue reading →
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 →
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, IRS
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Mid-year Tax Planning (re-post)
There are always things you can be doing throughout the year to lower your tax bill at year end. Full year tax projections are a great way to see how what you do now will make your life easier come … Continue reading →
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes
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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 →
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, IRS, Michigan Taxes
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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 →
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, IRS
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Mid Year Financial Checkup from the USA Today
Some great tips for getting your financial house in order… see here or see below for the article text. This year is more than half gone. Amid your summer vacation and plans for fun in the sun, find time now for … Continue reading →
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