Don’t Forget to Report Those Foreign Financial Assets!
The penalty for failing to report specified foreign financial assets for a tax year is $10,000! Learn more in this week’s Tax Tip.
IRS Officially Begins Tax Season
2012’s tax act made some rules retroactive for 2012, causing a delay in filing and for the IRS to process returns. Read our article in today’s Marietta Daily Journal This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be…
Moving Expenses
Some moving expenses may be tax deductible if you meet certain tests from the IRS.
Itemizing Deductions—What You Can and Cannot Deduct
If it’s tax time, you are certainly looking for deductions. There are many legitimate deductions that include certain medical expense, unreimbursed employee expenses and even tax preparation fees.
Retirement Savings Contributions Credit
Low-and moderate income workers who contributed to a retirement plan, such as an IRA or 401(k), may be able to take the savers credit.
Relief for the Travel and Entertainment Headache
Deducting travel and business expenses can be hard to keep up with. Luckily, the IRS will allow you to deduct unreimbursed expenses on a per-diem method.
Tax Freedom Day
Ever wonder how many days in a year you have to work to fulfill your income tax obligation? Wonder no more.
Social Security Benefits and Potential Tax on Benefits
Social Security has transformed many times since 1935 becoming more than just continuing income for the retired worker.
Property Acquired by Gift or Through an Estate
The recipient of a gift or a bequest pays no gift or estate tax. If taxes are due, they payable by the donor (the person making the gift) or the estate in the case of a decedent.
Long-Term Care Insurance—Is it for You?
Long-term care can be very expensive. Long-term care insurance can help preserve assets rather than using your wealth for your medical expenses.