Monthly Archives: December 2015

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All You Need to Know about the New Tax Extender Legislation

Congress has reached a bipartisan agreement on tax extenders, aptly named “Protecting Americans from Tax Hikes Act of 2015”. Much to everyone’s surprise, some were made permanent while others were only extended for a period of time. Congress also modified several provisions and added new ones to reduce tax fraud. Here is a look at [...]

By | 2016-11-23T22:45:41+00:00 December 31st, 2015|Categories: Uncategorized|Comments Off on All You Need to Know about the New Tax Extender Legislation

Don’t Be a Victim to IRS Phone and E-Mail Scams

Thieves use taxpayers’ natural fear of the IRS and other government entities to ply their scams, including e-mail and phone scams, to steal your money. They also use phishing schemes to trick you into divulging your SSN, date of birth, account numbers, passwords and other personal data that allow them to scam the IRS and [...]

By | 2016-11-23T22:45:41+00:00 December 28th, 2015|Categories: Uncategorized|Comments Off on Don’t Be a Victim to IRS Phone and E-Mail Scams

Holiday Charity Donation Tips

Article Highlights: Long-Form Itemization Required Qualified Charities Only Cash Donations Non-cash Donations Year-End Donations During the holidays, many charities solicit gifts of money or property. This article includes tips for documenting your charitable gifts so that you can claim a deduction on your tax return and advice for how not to be scammed by criminals [...]

By | 2016-11-23T22:45:41+00:00 December 24th, 2015|Categories: Uncategorized|Comments Off on Holiday Charity Donation Tips

Traditional to Roth IRA Conversions – Should You? Did You? Wish You Hadn’t?

  Article Highlights: Conversion Timing Why Convert? When to Convert? Undoing A Conversion Issues to Consider Before Making the Decision The tax provision that allows taxpayers to convert a Traditional IRA to a Roth IRA is a great tax-planning tool when used properly, and timing is everything. To make a conversion, you must pay income [...]

By | 2016-01-21T00:00:26+00:00 December 21st, 2015|Categories: Uncategorized|Comments Off on Traditional to Roth IRA Conversions – Should You? Did You? Wish You Hadn’t?

President signed extender bill (12-18-15)

The President has signed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). Below is more information on the Act's provisions. Made permanent: Enhanced Child Tax Credit Enhanced American Opportunity Tax Credit Enhanced Earned Income Tax Credit Above-the-line educator deduction Sales tax deduction Enhanced mass transit and parking pass benefits IRA-to-charity — California automatically [...]

By | 2016-01-21T00:00:26+00:00 December 19th, 2015|Categories: Uncategorized|Comments Off on President signed extender bill (12-18-15)