Individual Tax Calendar: Important Income Tax Deadlines in 2019

   While April 15th  is the main tax deadline on most individual taxpayers’ minds, there are other deadlines through the rest of the year that are important to be aware of. To help you make sure you don’t miss any important 2019 deadlines, here’s a look at when some...

A Timely Postmark on Your Tax Return May Not Be Enough to Avoid Late-filing Penalties

Because of a weekend and a Washington, D.C., holiday, the 2016 tax return filing deadline for individual taxpayers is Tuesday, April 18. The IRS considers a paper return that’s due April 18 to be timely filed if it’s postmarked by midnight. But dropping your return in...

2016 Ira Contributions — It’s Not Too Late!

Yes, there’s still time to make 2016 contributions to your IRA.The deadline for such contributions is April 18, 2017. If the contribution is deductible, it will lower your 2016 tax bill. But even if it isn’t, making a 2016 contribution is likely a good idea.Benefits...

Tangible Property Safe Harbors Help Maximize Deductions

Did your business make building or equipment repairs in 2016? The expense may save you tax.

Do You Need to File a 2016 Gift Tax Return by April 18?

Last year you may have made significant gifts to your children, grandchildren or other heirs as part of your estate planning strategy. Or perhaps you just wanted to provide loved ones with some helpful financial support. Regardless of the reason for making a gift,...

IRS Warns of New Email Scam

The IRS has issued a warning regarding a new email scam that has been detected.  Cyber-criminals are sending out emails impersonating tax professionals.  This means that cybercriminals are pretending to be your tax preparer and are sending out emails requesting that...

Natural Disasters and Charitable Donations

Helping Others After a Natural DisasterBetween fires, floods, hurricanes and tornados, since 2005 the United States has been wracked over and over by Mother Nature. First, it was Katrina, then Rita came rushing in hot on Katrina's heels to decimate Louisiana. In 2007,...

Planning for your Tax Appointment

Be ready for your tax appointment. Here are some tips to help you prepare.

The Investment Interest Expense Deduction

It's Less Beneficial than You Might ThinkInvestment interest — interest on debt used to buy assets held for investment, such as margin debt used to buy securities — generally is deductible for both regular tax and alternative minimum tax purposes. But special rules...

Deduction for State and Local Sales Tax Benefits Some, but Not All, Taxpayers

The break allowing taxpayers to take an itemized deduction for state and local sales taxes in lieu of state and local income taxes was made “permanent” a little over a year ago. This break can be valuable to those residing in states with no or low income taxes or who...

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