The Affordable Care Act (Obamacare) and Your Taxes
UncategorizedTaxpayers must let the IRS know when filing that they had the required minimum essential health care coverage or were exempt. If you have the proper insurance you should receive either a 1095-C or a 1095-B. If you did not receive a sub...
Ten Tips From the IRS to Help You Choose a Tax Preparer
UncategorizedMany people look for help from professionals when it’s time to file their tax return. If you use a paid tax preparer to file your return this year, the IRS urges you to choose that preparer wisely. Even if a return is prepared by someo...
What Should You Bring to Have Your Tax Return Prepared ?
UncategorizedFollowing is a list of the more common items you should bring if you have them. – Wage statements (Form W-2) – Pension, or retirement income (Forms 1099-R) – Form to verify health insurance coverage (Form 1095) – Dependents’ Social Secur...
What To Do If You Are Missing a W-2
UncategorizedDid you get your W-2? These documents are essential to filling out most individual tax returns. You should receive a Form W-2, Wage and Tax Statement, from each of your employers each year. Employers have until Feb 2, 2015 ( to provide ...
Tax Season to Open As Planned Following Extenders Legislation
UncategorizedFollowing the passage of the extenders legislation, the Internal Revenue Service announced today it anticipates opening the 2015 filing season as scheduled in January. The IRS will begin accepting tax returns electronically on Jan. 20. P...
Tax Increase Prevention Act is Passed by Congress and Signed by the President
UncategorizedHere is a first brief explanation of some of the more common provisions that were extended. Followed by a link to the complete list. All of this applies retroactively to the beginning of 2014. 1) The $250 deduction for supplies purchase...
4 Tips for Donating Cars or (Boats and Airplanes)
UncategorizedThe Most Important Rule is to Check Out the Charity To verify that an organization is a charity qualified to receive tax deductible contributions, see IRS Publication 78 cumulative List of Organizations, an annual list of most charities....
IRS Releases 2015 Standard Mileage Rates
UncategorizedBeginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 57.5 cents per mile for business miles driven, up from 56 cents in 2014 23 cents per mile driven for medical or moving purpos...
Tips for Year-End Gifts to Charity
UncategorizedRules for Charitable Contributions of Clothing and Household Items Household items include furniture, furnishings, electronics, appliances and linens. Clothing and household items donated to charity generally must be in good used conditi...
Open Enrollment for Insurance Under the Affordable Care Act Has Begun
UncategorizedIf you haven’t enrolled in 2015 coverage by February 15, you generally can’t buy Marketplace health coverage for 2015 unless you qualify for a Special Enrollment Period. If you’re enrolled in a 2014 Marketplace plan, your coverage...