Monthly Archives: April 2011

Is a Home Office Right for You?

In the current economic environment, many smaller firms are looking for ways to cut costs. One such possible move would be to relocate from a rented office space to a home office. With today’s modern means of communications and virtual

Posted in Client Education

Expanded Adoption Credit

You may be able to take a tax credit in 2011 of up to $13,360 ($13,170 in 2010) for qualified expenses paid to adopt an eligible child. The Affordable Care Act increased the amount of the credit and made it

Posted in Client Education

Write-Off for Qualified Improvements

In an effort to get the economy back on the rails again, the 2010 Tax Relief Act permits businesses to claim a 100% depreciation deduction (100% bonus depreciation allowance) in the year that qualifying assets are placed in service. Qualified

Posted in Client Education

Tax Credits to Help Pay Education Costs

There are two federal tax credits available to help individuals offset the costs of higher education for themselves or their dependents.  They are the American Opportunity Credit and the Lifetime Learning Credit.

Posted in Client Education

Early Retirement Plan Distributions?

In today’s economy, some taxpayers may need to take money out of their retirement plans to make ends meet. If you have or are contemplating on taking a distribution, there are some very important and unexpected tax issues you need

Posted in Client Education

Tax Tips about Tip Income

If you work in an occupation where tips are part of your total compensation, you need to be aware of several facts relating to your federal income taxes: 

Posted in Client Education

Tax Filing Deadline Rapidly Approaching

Just a reminder to those who have not yet filed their 2010 tax return that April 18, 2011 is the due date to either file your return and pay any taxes owed, or file for the automatic six-month extension and

Posted in Client Education

Plan Your Withholdings & Estimates for 2011

April 18 is the due date for the first estimated tax installment for the 2011 tax year and only a couple of weeks away. You may not realize it, but taking a few minutes to plan your estimated tax payments

Posted in Client Education

Need Help Paying Taxes by the Due Date?

The vast majority of Americans get a tax refund from the IRS each spring, but what if you are one of those who have received a tax bill?  What do you do if you owe money to the IRS and

Posted in Client Education

Are You Missing Out on 2007?

If you, a member of your family or a friend has a refund coming from a 2007 return that has yet to be filed, you only have until Monday (April 18) to claim your refund.   The IRS reports that

Posted in Client Education