Are you anticipating a big refund this year? Since getting a large refund actually costs you money, you may want to do some tax planning each year in order to minimize the amount you get back. If you are among the millions of taxpayers who receive a refund each year...
If the IRS questions a choice made on your tax return, having well-documented corporate minutes can provide valuable supporting evidence. When related-party transactions are involved, such as payments, loans or distributions between the company and you or other...
Did you register to receive social security benefits last year? If so, you may have questions about how that income is taxed on your federal income tax return. Here’s the bright side. The formula remains the same as prior years. Unfortunately, the thresholds for...
Article borrowed from LJI Wealth Management’s newsletter – We hope this finds you well. Last month, we outlined several year-end tax moves that could make a difference when you file your 2014 taxes by April. Along with delivering this month’s LJI Newsletter,...
Review your tax deductions for 2013 while there’s still time to manage them for a lower tax bill this year. The standard deduction for 2013 is $12,200 for married couples filing a joint return and $6,100 for single taxpayers. If your deductions are close to the...
