Monthly Archives: February 2017

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Childcare Providers Enjoy Special Tax Deductions

Article Highlight: Auto Travel Capital Purchases Supplies Children’s Meals Business Use of the Home If you are a childcare provider, tax law provides you with special tax breaks, including deductions for travel, capital purchases, supplies, children’s meals and the business use of your home. Travel – Your auto expenses are based on the number of [...]

By | 2017-02-13T23:18:04+00:00 February 27th, 2017|Categories: Uncategorized|0 Comments

Don’t Overlook Standard Mileage Rate Add-Ons

Article Highlights:   Standard Mileage Rate Expenses Additional Deductible Expenses Auto Loan Interest Business owners often use the standard mileage rate instead of actual expenses when taking a deduction for the business use of their vehicle. The standard mileage rate is determined annually by the IRS by using data from a study conducted by an [...]

By | 2017-02-13T22:53:47+00:00 February 22nd, 2017|Categories: Uncategorized|0 Comments

Want To Make An IRA Contribution For Last Year? You Still Have Time.

Article Highlights: Contribution Due Date Age Rules Compensation Rules When To Contribute Contribution Limits Deductibility & Benefits Saver’s Credit Choosing Between Traditional & Roth IRAs Blog: If you wish to make an IRA contribution for 2016, you still have time. Contributions can be made up to the unextended due date of your tax return, which [...]

By | 2017-02-13T22:52:04+00:00 February 20th, 2017|Categories: Uncategorized|0 Comments

Maximizing Your Affordable Care Act Insurance Supplement

Article Highlight:  Financial Assistance for Health Insurance Federal Poverty Level Modified Adjusted Gross Income Household Income Gambling Income Children’s Income Hobby Income IRA Contributions If you are getting your health insurance through a government Marketplace, you should be aware of several issues that can adversely affect the amount of financial assistance you receive to help [...]

By | 2017-02-13T23:41:53+00:00 February 16th, 2017|Categories: Uncategorized|0 Comments

February 2017 Due Dates

February 2017 Individual Due Dates February 1 - Tax Appointment If you don't already have an appointment scheduled with this office, you should call to make an appointment that is convenient for you. February 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in [...]

By | 2017-02-13T23:28:23+00:00 February 14th, 2017|Categories: Uncategorized|0 Comments

IRS Clamps Down on Tax Credits

Article Highlights:   Affected Credits Retroactive Claims Disallowance Periods for Improper Credit Claims Preparer Due-Diligence Requirements 1098-T Requirement to Claim Education Credits Refunds from AOTC and CTC Returns Will Be Purposely Delayed In an effort to rein in tax fraud, which is costing the government billions of tax dollars, some new laws that take effect [...]

By | 2017-02-03T17:42:21+00:00 February 6th, 2017|Categories: Uncategorized|0 Comments

Along with Tax Season Come the Scams; Don’t Be a Victim

Along with Tax Season Come the Scams; Don’t Be a Victim Article Highlights: Tax Season Brings Scams Key ID Elements How the IRS Operates Email Scams & Phishing Phone Scams ID Thieves One thing we can count on when tax season begins is the scammers coming out from under their rocks with schemes to try [...]

By | 2017-01-27T17:38:31+00:00 February 1st, 2017|Categories: Uncategorized|0 Comments