Yearly Archives: 2016


Have a Worthless Stock You Want To Write Off for 2016? Action May be Needed by Year-End

Action May be Needed by Year-End  Article Highlights:  Tax Loss for a Security Sold or That Is Worthless Proving Worthlessness Selling a Worthless Stock by Year-end Brokers May Accommodate Clients Capital Loss Deduction If you are like most investors, you occasionally will pick a loser that declines in value. Sometimes, a security can even become [...]

By | 2017-02-03T17:26:39+00:00 December 29th, 2016|Categories: Uncategorized|0 Comments

Only 4 Days Left for 2016 Tax Deductions

Article Highlights: Actions You Can Still Take to Reduce Your 2016 Tax Bite Actions Must Be Completed Before the End of 2016 When Contributions by Check, Text-message or Pay-By-Phone Accounts Are Considered to Be Made Deductible Expenses Paid by Credit Card Are Deductible In The Year Charged Just a reminder that the last day you [...]

By | 2017-02-03T17:27:13+00:00 December 27th, 2016|Categories: Uncategorized|0 Comments

Year-End Investment Moves

Article Highlights: • Zero Capital Gains Rate • Offset Gains With Losses • Wash Sales If you invest in publicly traded securities, here are a couple of tax-saving possibilities you shouldn’t forget to consider before year-end. Zero Capital Gains Rate - If you are having a low-income year, there may be a way for you [...]

By | 2017-02-03T17:27:46+00:00 December 23rd, 2016|Categories: Uncategorized|0 Comments

Liberal Expensing Limits Can Create Major Year-End Tax Savings

Article Highlights:  Sec 179 Expensing Expensing Safe Harbor Per Item or Invoice First Year Bonus Depreciation Leasehold Improvements Businesses seeking to increase deductions by acquiring machinery and equipment before year-end have an impressive array of tools to work with: Generous, up to $500,000, expensing under IRC Sec. 179, A liberal, up to $2,500, expensing safe [...]

By | 2017-02-03T17:28:19+00:00 December 19th, 2016|Categories: Uncategorized|0 Comments

Habits That Threaten Your Identity and Pocketbook

Habits That Threaten Your Identity and Pocketbook Article Highlights • What’s In Your Wallet Or Purse • Your Fear Of The IRS • Using Public Internet Connections • Not Screening Your E-Mails • E-Mailing And Texting Sensitive Information • Being Free and Easy With Passwords • Using Identical Passwords They’re just old habits. You likely [...]

By | 2016-11-23T22:45:39+00:00 November 14th, 2016|Categories: Uncategorized|0 Comments

Avoid These 4 Common Small Business Accounting Mistakes

Avoid These 4 Common Small Business Accounting Mistakes Article Highlights: • Reporting employees as independent contractors • Not reconciling bank accounts regularly • Forgetting to record payments against open invoices • Not understanding the differences between cash flow and profit When you decided to open for business, you had a vision for the future. You [...]

By | 2016-11-23T22:45:39+00:00 November 4th, 2016|Categories: Uncategorized|0 Comments

Time For Baby Boomers to Pay Up

Time for Baby Boomers to Pay Up Article Highlights: • Required Minimum Distribution (RMD) • Distribution Period • Penalty for Not Taking an RMD • Multiple Accounts • Non-Taxable Amounts • Roth Conversions • Effect on Other Income & Deductions Once RMDs Start • Additional Withholding or Estimated Tax • Charitable Option All you baby [...]

By | 2016-11-23T22:45:39+00:00 October 31st, 2016|Categories: Uncategorized|0 Comments

Are You Thinking of Converting Your Home to a Rental?

Thinking of Converting Your Home to a Rental? Better Read this First Article Highlights: • Home Gain Exclusion • Converting Homes that Have Declined in Value • Converted Basis • Passive Loss Limitations If you are considering converting your home to a rental, there are a number of tax issues you need to consider before [...]

By | 2016-11-23T22:45:40+00:00 October 24th, 2016|Categories: Uncategorized|0 Comments

Who Claims the Kids

Who Claims the Kids? You or Your Ex-Spouse? Article Highlights: • Custodial Parent • Dependency (Exemption) Release • Joint Custody • Tiebreaker Rules • Child’s Exemption • Head of Household Filing Status • Tuition Credit • Child Care Credit • Child Tax Credit • Affordable Care Act • Earned Income Tax Credit If you are [...]

By | 2016-11-23T22:45:40+00:00 October 20th, 2016|Categories: Uncategorized|0 Comments

Don’t Be Left Holding the Tax Bag

Don’t Be Left Holding the Tax Bag Article Highlights: • Paying Independent Contractors • 1099-MISC Reporting Threshold • Form W-9 Benefits • Penalties • Due Date If you use independent contractors in your business and pay them $600 or more during the calendar year, you are required to issue them a 1099-MISC after the close [...]

By | 2016-10-15T00:42:39+00:00 October 15th, 2016|Categories: Uncategorized|0 Comments