Articles

TAX NEWS for December 2010

NEW SMALL BUSINESS HEALTH CARE CREDIT AVAILABLE ON 2010 RETURN
If you are a small employer and you paid at least half of the premiums for health insurance coverage for your employees in 2010, you may be eligible to claim the new small business health care credit. It is specifically targeted to help small businesses and tax-exempt organizations that primarily employ moderate- and lower-income workers. The IRS recently has released the form for clai.... Read More

Tips for Tax Season

It’s that time of year already.  Whether you do taxes on your own, or hire a professional, there are many things you can do to prepare for this tax season.  Having everything together will save time and lower your stress levels when you’re ready to prepare your taxes.  Follow these helpful tips:... Read More

National Association of Enrolled Agents Welcomes New Member

Washington, DC  (November, 2010 Lisa M. Stiffler, EA, has been accepted into the National Association of Enrolled Agents according to Gina D. Jones, EA, NAEA president. Lisa M. Stiffler, EA, joins nearly 12,000 other enrolled agents (EAs) as a member of the only professional society dedicated to advancing the interest of EAs and th.... Read More

Choose Your Tax Preparer Carefully

Melbourne, FL – With new IRS regulations on tax preparers beginning January 1, 2011, the members of the National Association of Tax Professionals (NATP) remind consumers that it is more important than ever to be thorough when choosing a tax preparer. The new rules require all tax preparers to be re.... Read More

Commonly Missed Deductions and Credits

Before you file your taxes this year – start looking for credits and deductions.  Millions of people miss out on deductions each year.  Missed deductions mean more money in the government’s pocket and less in yours.  If you think you pay enough taxes as it is, do whatever you can to get a little extra back this year.  .... Read More

Depreciation

Depreciation is a simple concept and most people who have ever filed itemized deductions of any kind know the concept well.  But when it comes to saving the most money possible and doing it lawfully, one must understand the intricacies of depreciation. .... Read More

Inherited Property Information

Losing a loved one is a difficult thing. But after the funeral the heirs must go on.  That generally involves settling the estate and distributing the assets of the deceased.  Whether you are the one in charg.... Read More

What is an Enrolled Agent?

An Enrolled Agent (EA) is a tax professional that represents taxpayers when dealing with the Internal Revenue Service. Enrolled Agents are recognized by the federal government and have been regulated by Congress since 1884.  With horses and other property confiscated for use in the Civil War, citizens had problems settling claims with the government afterwards.  Congress endowed Enrolled Agents with the power of advocacy to assist everyday citizens and to ensure equitable justi... Read More

Self Employment and Taxation

Self employment is simple by definition. If you conduct regular activities on your own with the goal to earn money from them, you are self employed.  Even if you have a job elsewhere where an employer relationship exists, the work you do on the side is self employment.  Also, any money earned over $400 is subject to special taxation..... Read More

Unclaimed Tax Returns

As of December 1, 2010, The IRS has $164.6 million dollars of funds waiting to be returned to it's rightful owners. And all of these funds cannot be delivered for one reason alone: mailing address errors. The $164 million.... Read More

American Opportunity and Hope Credit

What are the Hope Credit and American Opportunity Credits? Fundamentally, they are incentives and financial breaks created by the government to help families of students going to college or the college student themselves if they are the filing party.  The Hope Credit is aimed at stude.... Read More

Small Business Health Care Tax Credit - 2010

In recent years, small businesses have had a hard time finding affordable health insurance plans for themselves and their employees – it has been especially difficult during recession.  With limited resources, small workforces, and lower profits in many cases, many employers have found it hard to pay for high premiums.  In 2010, millions of business owners in America received a post card from the .... Read More