Posts Tagged ‘tax season’
US 2016 Tax Season To Open On January 19
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! By Tax-News Following a review of the recently passed tax extenders legislation, the Internal Revenue Service (IRS) has announced that the US tax season for individual tax returns will begin as…
Read MoreStandard Mileage Rates for 2015
Rather than keeping track of the actual cost of operating a vehicle, employees and self-employed taxpayers can use a standard mileage rate to compute their deduction related to using a vehicle for business. Likewise, standard mileage rates are available for computing the deduction when a vehicle is used for charitable, medical or moving purposes.
Read MoreBeware tax ID thieves
We made it through the first week of tax filing season 2015. Unfortunately, during those days some folks’ tax information likely was stolen and used to file fraudulent tax returns.
Read MoreSocial Security and Medicare Amounts for 2015
The annual inflation adjustments have also impacted the various Social Security amounts and thresholds for 2015.
Read MoreTax Calendar Q1 2015
Your 2015 Tax Calendar Is Here.
Read MoreNew Law Creates Tax-Favored Savings Accounts for Disabled Taxpayers
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! As part of the larger tax extender legislation passed on Tuesday, Congress approved the Achieving a Better Life Experience (ABLE) Act of 2014 (H.R. 647), which will allow disabled individuals to…
Read MoreSupersizing your charitable contribution deductions
You might want to consider three charitable giving strategies that can help boost your 2014 charitable contribution deduction.
Read MoreSeniors age 70 1/2+: Take your required retirement distribution
The tax laws generally require individuals with retirement accounts to take annual withdrawals based on the size of their account and their age beginning with the year they reach age 70½. Failure to take a required withdrawal can result in a penalty of 50% of the amount not withdrawn.
Read MoreTime to make year-end tax moves
Tax season finally ended, with millions of tax stragglers getting their 2013 returns into the Internal Revenue Service by the Oct. 15 extension deadline.
Read MoreCollege Students: The Gray Area of Exemptions
There’s still time to take advantage of last-minute, tax-saving moves for dependency exemptions. For 2014, there are bigger dependency exemptions, as well as rules that, in some cases, are dauntingly complex.
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