Truckers, tax payers and tax filers… IRS has announced that tax-filing extension runs out on Oct.15 2013 and advised to e-file their return on time. Well, coming back to extension, it is a way to ask IRS for more time to file your tax return. This year (2013) many tax payers have requested for an […]
When it comes to tax season, every year is a little different. Laws change, some benefits kick in while others end, and natural disasters can have an impact on your tax return. The deadline for filing your taxes is April 15, 2013. While this is the normal deadline, there are some important new things you […]
The following is a compilation of various deadlines for filing returns with the IRS and making various payments. January 15, 2013 Deadline to pay your fourth quarter estimated tax payment for the year 2012. However, you can skip this estimated payment without penalty if you file your return and pay your balance in full by January 31, […]
President Barack Obama speaks during a joint news conference with British Prime Minister David Cameron at White House on Monday. Outrage intensified in Washington on Monday over the disclosure that the Internal Revenue Service targeted conservative groups for special scrutiny when they applied for tax-exempt status. President Barack Obama, at a White House appearance with […]
When all is said and done, what are the actual tax brackets and rates this year? The fiscal cliff compromise bill that passed Congress preserves Bush-era rates for taxpayers making under $400K (single filers)/$450K (joint filers) in taxable income. Last year, we predicted 2013 tax brackets under various scenarios using the IRS’s method of adjusting tax brackets […]
Everyone makes mistakes now and then. (Don’t tell the hubby that I admitted that!) When it comes to mistakes on tax returns, the Internal Revenue Service gives us a second chance, up to a point. As this week’s Weekly Tax Tip notes, sending in a corrected tax return via Form 1040X is not that difficult. The IS wants to […]
How can I spot a charity scam? These are some common-sense suggestions for avoiding rip-offs: Try to avoid making a cash contribution. If possible make your donation using a check or money order made out to the charity-never to the individual soliciting the donation. If you do pay cash always get a receipt. Cash donations […]
What’s the best way to borrow to make consumer purchases? For homeowners, it’s the home equity loan. Other consumer related interest expense, such as from car loans or credit cards, is not deductible. Interest on a home-equity loan can be deductible. So avoid other nondeductible borrowings and use a home-equity loan if you plan to […]
How can I ensure that my small business will survive the transition into the next generation? Less than one third of family businesses survive the transition from first to second generation ownership. Of those that do, about half do not survive the transition from second to third generation ownership. At any given time, 40 percent […]
What pieces of paper do I need to keep in order to do my taxes? Keep detailed records of your income, expenses, and other information you report on your tax return. A good set of records can help you save money when you do your taxes and will be your trusty ally in case you […]
Our philosophy is to provide our clients with both personal and professional service. We offer business accounting services, tax preparation & planning, comprehensive Financial Statements, electronic filing, individual accounting services. tax planning, and individual-Corporate-Partnership Tax Compliance.
1538 Star Stella Dr Odenton, Maryland 21113
Please Us our contact form above to get in touch with us
