Tax Tips: Capital gains and losses
Capital gains and losses are areas that offer great tax planning opportunities, since in many situations, you control when the gains and losses will...
Tax Tips: Tax update
Congress has been gearing up for the 2012 elections so no major tax legislation was passed in 2011. The bill passed in December 2010...
Tax Tips: Tax myths
With the tax code approaching the size of the Encyclopedia Britannica, it’s little wonder there are many misconceptions and erroneous beliefs regarding tax regulations.
Many...
Tax Tips: People get ready, tax season’s a comin’
About this time of year, we begin to collect all the information we will need to properly file our income tax returns. Since it’s...
Tax Tips: Charitable contributions …
Americans are the most charitable people in the world, as evidenced by records of our annual charitable giving. Congress has been very generous in...
Tax Tips: Tax myths
In an 1939 BBC broadcast, Winston Churchill called Russia “a riddle wrapped in mystery inside an enigma.” This would also be an apt description...
Tax Tips: Do you need a tax preparer?
Editor’s note: “Tax tips” returns and will appear bi-weekly throughout tax season. Stephen T. Peppler, E.A., C.F.P., has graciously agreed to provide the...
American Tax Relief Act, part 2
After finishing my first article on the American Tax Relief Act of 2012 (see the Jan. 10 issue of the Town Crier) I realized...
Tax Tips: Audit triggers
The Internal Revenue Service has stepped up its audits over the past few years. In addition to traditional face-to-face audits, it is also conducting...
Tax Tips: Social security benefit taxation
The taxation of Social Security benefits depends on several complex calculations.
The first step is to calculate your provisional income, which is your gross income...