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Category Archives: 1040 Personal Income Taxes
What’s NOT Deductible
I often get asked, “What expenses are deductible?” However, I have never had someone ask what is not deductible. Here is an article from Forbes with some “bad” ideas of tax deductible items… if you do not want to click over, … Continue reading →
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 →
Posted in 1040 Personal Income Taxes, IRS, Michigan Taxes
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It’s never too early to do tax planning
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, Michigan Taxes, Personal Finance
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Your year-end tax to do list: what you do before the Dec. 31 deadline can save you big bucks at tax time
More year end tax planning ideas here.
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Michigan Taxes, Personal Finance
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4 Tax Planning Moves to Make Before Year End (from Market Watch)
With the end of the year approaching, it’s time to make some moves to lower your 2013 tax bill. This is the second installment of our two-part series on that subject (also see: Tax moves to make before Christmas). Strategy: … Continue reading →
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 S Corporation Taxes, Michigan Taxes, Personal Finance
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2013 changes to your Income Taxes
Even in a year with no changes to the tax laws, it’s often a good idea to do an income tax projection at some point during the year to see if there are ways to lower your tax liability or … Continue reading →
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 S Corporation Taxes, Personal Finance
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Year End Tax Planning
The 2013 tax year is almost over and it is the perfect time to do some end of year tax planning… before it is too late. Many tax planning decisions can only be made before December 31st. The first step … Continue reading →
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Personal Finance
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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 →
Posted in 1040 Personal Income Taxes, IRS
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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 →
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 S Corporation Taxes, IRS, Personal Finance, Small Business, Technology
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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.
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, IRS, Personal Finance, Small Business
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