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Friday April 18th, 2014

Attorney at Law | Certified Public Accountant | Licensed Real Estate Appraiser | Licensed Real Estate Broker

Since 1973

Tax News

Friday April 18th, 2014

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Three Questions for April 15

The answers underscore how much the government relies on the income tax on individuals.

The Next Offshore Target

An undercover U.S. sting is focusing attention on undeclared accounts in the Cayman Islands.

Recents Changes in IRAs, Medicare and Annuities

Recent court rulings and regulatory filings affect IRAs, certain Medicare beneficiaries and owners of variable annuities.

Last-Minute Tax Tips

As the clock ticks down to April 15, here's what taxpayers can do to lower their bills, decide whether an extension makes sense and track down missing refunds.

Termination Pay is Subject to FICA Taxes

They're levied on accumulated vacation and other forms of pay.

Are You Ready to Be Audited?

The IRS is far more likely to challenge affluent and wealthy taxpayers. Here's how to prepare for the questions you hope you never get.

Extend Your Tax Deadline With Care

You can delay filing, but delaying payment will cost you.

Should Congress Limit the Mortgage-Interest Deduction?

Discussions in Congress about a broad tax overhaul are heating up, including possibly limiting the mortgage-interest deduction.

E-Filing Can Simplify Tax Season

Experts say it's the fastest, most reliable way to get your federal refund.

Should Couples File Taxes Jointly?

Usually, but not always. Here are two exceptions, and a way to help decide.

Beware the Stealth Tax

The alternative minimum tax surprises many people, defies understanding and raises tax bills. Here's how to minimize the damage.

When You Sell Your Home for a Profit

For federal tax purposes, you can usually exclude much or all of the gain.

The Cost-Basis Conundrum

Tax Report: When the time comes to sell an asset, one important thing to know is how much you paid for it.

Dangers of Giving Your Home to Your Children

It's almost always best for the family home to pass to the next generation through inheritance. Here's why.

How the Tax-Filing Rush Could Cost You

In the mad rush to April 15, many overlook these common tax breaks.

Mistakes Divorcing Couples Make When Dividing Assets

Investment and retirement accounts require special attention to make a divorce agreement fair to both parties.

High Court Rules Quality Stores Severance Pay Subject to FICA -- Update

Dow Jones Newswires Codes - Subject Codes

Can't Save? Change Your Plan

You might do better with a Roth 401(k) or IRA.

Health-Care Penalty Will Surprise Many

Most who don't buy coverage will pay more than the $95 often cited.

Psst...the Backdoor Route to a Roth IRA

High earners who can't contribute to a Roth have another way in.

Are Your Pets Tax Deductions?

In most cases, no, though there are some exceptions.

When Income Taxes Aren't Withheld

The IRS allows you to estimate what you'll owe, and pay in installments.

Where to Find Free Tax Help

There are several sources for people who qualify.

IRS Simplifies Home-Office Deduction

Change should cut paperwork for small businesses.

U.S. Treasury: Debt Subject to Borrowing Limit

The U.S. Treasury said the federal government held $17.212 trillion in public debt as of Monday afternoon, reflecting the amount subject to the government's borrowing limit.

After an Illness, a Couple Refocuses on Saving

Conservative spending keeps Sean Misciagna and Joel Braverman on track to meet their financial goals, a financial planner says.

Whatever Happened to 'Income Averaging'?

It exists no more—except for farmers and fishermen.

A Way to Make Tax Season Easier

The IRS's 'Free File' program could save you time and money.

Will the IRA Charity Rollover Be Revived?

Popular provision, allowing for tax-free donations from IRAs, expired at year's end.

A Novel Way to Skirt Taxes

Will two North Carolina business owners succeed in wiping out current income taxes on their company's profits?

Dow Jones Newswires Codes - Subject Codes

Delaying IRA Contributions Can Be Costly

Make your 2014 investment now, not next April, to boost your nest egg and trim taxes.

Bosch Subject of Price Fixing Probe by EU -Report

Dow Jones Newswires Codes - Subject Codes