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Posts from December, 2015

  • Tax Tips for Deducting Gifts to Charity This Holiday Season The holiday season often prompts people to give money or property to charity. If you plan to give and want to claim a tax deduction, there are a few tips you should know before you give. Rules for Charitable Contributions of Clothing and Household Items Household items ... Continue Reading
  • For Small Businesses: IRS Raises Tangible Property Expensing Threshold to $2,500; Simplifies Filing and Recordkeeping The Internal Revenue Service has simplified the paperwork and recordkeeping requirements for small businesses by raising from $500 to $2,500 the safe harbor threshold for deducting certain capital items. The change affects businesses that do not maintain an applicable ... Continue Reading
  • Avoid Phishing and Malware to Protect Your Personal Data “Update your account now.” “You just won a cruise!” “The IRS has a refund waiting for you.” In the cyber world of phishing, the sentences are “bait” – lures from emails, telephone calls and texts all designed to separate you from your cash, your passwords, your social ... Continue Reading
  • Three Tax Considerations During Marketplace Open Enrollment When you apply for assistance to help pay the premiums for health coverage through the Health Insurance Marketplace, the Marketplace will estimate the amount of the premium tax credit that you may be able to claim. The Marketplace will use information you provide about your ... Continue Reading
  • Upcoming Tax Deadlines December 2015 Tues 15 Corporations: Deposit the fourth installment of your 2015 estimated tax. January 2016 Thurs 15 Individuals: Pay the final installment of your 2015 estimated tax. Use Form 1040-ES. Thurs 15 Farmers and fishermen: Pay your estimated tax for 2015. Use Form ... Continue Reading