Monthly Archives: July 2011

Managing Tax on Social Security

Social Security (SS) income is not taxable until a taxpayer’s AGI (without Social Security income) plus 50% of their Social Security income plus tax-exempt interest income, and plus certain other infrequently encountered additions exceeds a specific threshold. The threshold is

Posted in Client Education

Limited Window of Opportunity

Last December, Congress extended a number of the Bush-era tax breaks, but only for a limited length of time. It is probably a safe bet that most won’t get extended further, considering the size of the national debt. Although numerous

Posted in Client Education

Standard Mileage Rates Increased

In late June, the Internal Revenue Service announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for

Posted in News

Tax Tips for Students with a Summer Job

Many students hold a summer job during their time off from school.  Here are some tax issues that should be considered when working a summer job.

Posted in Client Education

Are You Missing the Research Credit?

The Internal Revenue Code (Sec 41) provides a tax credit of up to 20% of qualified expenditures for businesses that develop, design or improve products, processes, techniques, formulas or software and similar activities.  The credit has been available off and

Posted in Client Education