Did you purchase goods or services to aid the business that you worked for during the year? If so, did your employer reimburse you for this out-of-pocket expense? If not, you may be eligible to deduct these costs (hereinafter referred to as Unreimbursed Employee Expenses) as an itemized deduction on your income tax return. Read […]
With tax filing deadlines steadily approaching, I thought this would be an appropriate time to gauge public perception on filing extensions for annual tax returns. Without further ado, please select the option below that most closely represents your feelings toward filing tax return extensions (percentages for each option selected by participants will be reflected upon submitting your response).
In 2015, the federal estate tax exemption is $5.43 million. With little planning, a married couple can pass up to $10.86 million worth of assets to heirs, so no estate tax will be due. Those numbers will increase in the future with inflation. With such a large exemption, you may think that estate tax planning […]
Please be aware that we mailed the 2015 tax organizers on January 22, 2016. If you have any questions or concerns regarding the information reflected in this document, or if we can assist you in compiling your tax information, please do not hesitate to contact us. If you are not an existing client of the […]
Are you ready for tax time? There are a couple of steps you can take now to alleviate some of the stress of filing your return. Plan to get organized early by creating a tax folder for all your tax documents such as W-2s, 1099s, bank statements, and receipts for things like medical bills and […]
Tax Rates – Single Taxpayers If Taxable Income is Of the Greater Than But Less Than Tax is Plus Amount Over -0- $ 9,225 10% N/A -0- $ 9,225 $ 37,450 $ 922.50 15% $ 9,225 $ 37,450 $ 90,750 $ 5,156.25 25% $ 37,450 $ 90,750 $ 189,300 $ 18,481.25 28% $ 90,750 […]
When filing individual income tax returns, you have the option to itemize deductions or take the standard deduction. For 2015, the standard deduction amounts are as follows: Filing Status Standard Deduction Amount Single $ 6,300 Married Filing Jointly $ 12,600 Head of Household $ 9,250 While taking the standard deduction […]
