Monthly Archives: December 2012

Be Charitable Today … Tax Relief in April

Get your check in the mail today! Charitable contributions are deductible in the year made, make you feel good immediately, and may give you some IRS Tax Relief in April. Therefore, donations paid by check still count for tax 2012 as long … Continue reading

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Obamacare and the Individual Mandate

The health care coverage mandates under the Affordable Care Act are scheduled for January 1, 2014.  So what will it mean for individuals? There are penalties and “carrots” associated with the looming health care changes. Starting in 2014 if your employer doesn’t offer insurance, you … Continue reading

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Tax Incentives for Small Businesses under Obamacare

The health care coverage mandates under the Affordable Care Act are scheduled for January 1, 2014.  So what will it mean for business owners? The small business health care tax credit is the carrot for small business owners to contribute to their … Continue reading

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Memphis Woman Gets 22 Years for Tax Fraud

A Memphis woman has recently been sentenced to 22 years in prison and ordered to pay nearly $700,000 in restitution after her tax fraud scheme was shut down by IRS Criminal Investigation. Aundria Bryant-Branch, 38, was providing stolen social security numbers and … Continue reading

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End of Year Tax Tips – Part 3

Capital gain tax rates are likely to increase in 2013.  Accepting your taxable gains now, instead of after January 1, 2013, may mean more profit and less taxes. Capital Gain Tax Rates: Depending on your tax bracket, some households may … Continue reading

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End of Year Tax Tips – Part 2

If you itemize your medical deductions, your qualified medical expenses in tax year 2012 are more valuable and deductible than those incurred in tax year 2013. Medical deductions will be more difficult to claim as itemized medical deductions in tax … Continue reading

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End of Year Tax Tips – Part 1

‘Tis the season for holiday cheer … and last minute tax planning. Bah humbug!  With the tax year about to end, tax season will officially begin; it’s finally the time to ensure that you will not need to hire a … Continue reading

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Fat Joe Owes the IRS Big Time

Our most recent celebrity tax problem story features hip hop artist Fat Joe, best known for his 2001 hit “What’s Luv” which sampled Tina Turner’s “What’s Love Got to do With It.” No doubt Mr. Joe was at the top … Continue reading

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Chaos Predicted at the IRS if Congress Doesn’t Act

The Alternative Minimum Tax (AMT) was written into the tax code in 1969, its purpose being to prevent wealthy Americans from completely avoiding income taxes through crafty tax planning strategies.  The AMT was meant to ensure that those who have the means … Continue reading

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What is “Routine Maintenance” at the IRS?

Maybe I’m not tech savvy enough to understand, but when the IRS announces that their Centralized Authorization File system (CAF) will be down for “routine maintenance,” I tend to imagine them dusting, mopping and shredding. Actually, this planned outage is … Continue reading

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