tax tips - Herman & Co. CPA

Eight Tips for Deducting Charitable

If you are looking for a tax deduction, giving to charity can be a “win-win” situation. It’s good for them and good for you. Here are eight things you should know about deducting your contributions to charity:

Tax Scam Alert

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 incidents of an aggressive telephone scam continue across the country, the IRS warns taxpayers not to be fooled by imposters posing as tax agency representatives. You can read the…

Simple Tax Savings Techniques for Security Gains

The market swings over the last several years may have you wondering whether it’s time to capitalize on some market gains. While taxes should not be the main consideration in this decision, they certainly need to be considered, as they can make a significant impact on your investment return.

Weddings Mean Tax Changes & Small Business Resources

It may not be as high on the wedding plan checklist as the venue, invitations and attire, but there are important tax issues created by a marriage that warrant some prompt attention following the wedding.

Midyear Tax Planning Ideas

Tax planning is a year-round process, so now is a good time to think about the following:Are you considering making a cash gift to a relative? If so, consider making the gift in conjunction with the overall revamping of your stocks and mutual funds held in taxable brokerage accounts to achieve better tax results

Federal Income Tax Withholding Adjustment & Tax Calendar

With over half the year already gone, now is a good time to check to see if you are on track to have about the right amount of federal income tax withheld from your paychecks for 2014. The problem with not having the correct amount of taxes withheld for the year is that:

Taxpayer Bill of Rights

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! Since assuming her position in 2001, National Taxpayer Advocate Nina E. Olson has emphasized the protection of taxpayer rights in tax administration. In her 2007 Annual Report to Congress, and in…

Taxing Social Security Benefits

Some taxpayers must include up to 85% of their Social Security benefits in taxable income, while others find that their benefits are not taxable at all.

Taxpayer Advocate Service at the IRS Nationwide Tax Forums

Each year, the Taxpayer Advocate Service (TAS) participates in the IRS Nationwide Tax Forums, a three-day series of tax education and networking conferences for tax professionals.

Implications Of Filing An Extension For Your Tax Return

Tick… tick… tick…

That’s the sound of the tax-filing clock winding down to April 15. What if you don’t think you’ll make the deadline? The consequences may not be as serious as you fear — if you take some simple steps before the deadline.