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Posts tagged Taxation

The Enrolled Agent, EA

The Enrolled Agent, EA
Tweet So I have been going on about it forever, I have even announced that I am headed to the exams to become one. So what is an Enrolled Agent (EA)? Simply put, Enrolled Agents (EAs) are America’s tax experts. The Enrolled Agent status is the highest credential the IRS awards. Individuals who obtain this elite status adhere to great et [...]

Grads – Filing for First the Ti...

Grads – Filing for First the Time
Tweet The subtle nuances of tax law have been nothing but confusing to the majority of taxpayers for years. It can be difficult to make sure you have applied for all the deductions and credits available while filing your taxes. The most definitive way to insure you have received all your possible deductions is to sit down with a tax professio [...]

Should Capital Gains Be Taxed Differe...

Should Capital Gains Be Taxed Differently?
Tweet Capital gains are monies derived from increased value or earnings of capital assets, but only upon realization of the profits. Capital assets are defined by the IRS as pretty much, “everything you own.” When an investment increases in value, that value is taxed at a specific rate called the capital gains tax. There are multiple reasons [...]

Small Business Health Care Tax Credit...

Small Business Health Care Tax Credit, Do you Qualify?
Tweet If you’re a small business owner with fewer than 25 full-time equivalent employees you may be eligible for the small business health care credit that went into effect in 2010.  What is the credit The small business health care tax credit, part of the Affordable Care Act enacted in 2010, is specifically targeted to help small busin [...]

Tax Apps for your phone

Tax Apps for your phone
Tweet Yes, there are apps for managing different aspects of filing your taxes on the go. Some of these apps help estimate taxes or check on refunds, one will actually file your very easy tax return, then some contain helpful reference material. While few people actually like doing their taxes, these phone apps can make the process a little ea [...]

A Week in Perspective

A Week in Perspective
Tweet The Turbo Tax defense doesn’t work in Tax Court. No Gold at the End of the Rainbow – The Court also noted that they gave plenty of opportunities for the Aus to negotiate a settlement with the IRS, and/or to consult attorneys regarding their case. They didn’t until the Court was about to render its decision. Had they asked a tax pr [...]

Reads From Last Week

Reads From Last Week
Tweet I am back on the racks over at Alltop. Thank you everyone for helping get there. What is it? Alltop is sort of a “digital magazine rack of the Internet. To be clear, Alltop sites are starting points” the site provides categorized selections of links to blogs and other web resources that make it easy to scan a lot of information on a par [...]

Reads From Last Week

Reads From Last Week
Tweet Last week was July 4th, a great day for this country. I asked two of my children if they knew what all the hubbub was all about and both gave a pretty clear “nope”. At first I blamed myself, then their mother back to myself then the school system then myself again. How could my children not know about our Independence? For many of us in [...]

Hiring Family Members For your Busine...

Hiring Family Members For your Business
Tweet Employing your Child – A reasonable salary paid to a child reduces the self-employment income and tax of the parents (business owners) by shifting income to the child. If the business is unincorporated and the wages are paid to a child under age 18, he or she will not be subject to FICA – Social Security and Hospital Insurance (aka Medi [...]

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Tax Preparation, Payroll, and Accounting, Including online services.

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