Blog
Year-end planning: How increased withholding may avoid estimated tax penalty for some taxpayers
Some individuals with substantial income in addition to salaries may find that the amount of tax withheld from their salaries isn’t enough to cover their required estimated tax payments. This…
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Year End Tax Planning Client Letter
Dear Client: Year-end tax planning could be especially productive this year because timely action could nail down a host of tax breaks that won’t be around next year unless Congress…
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Key 2014 tax items as calculated by RIA based on inflation data
The break points to the income tax brackets, standard deduction amounts, exemption amount, and other tax items are adjusted annually for cost-of-living increases. The adjustments are based on the average…
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Client Letter explains recent developments that may affect a client’s tax situation
The following is a summary of the most important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood.…
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CRS compares tax-favored options available for paying health care costs
There are four types of tax-advantaged accounts that can be used to pay for unreimbursed medical expenses: (1) Health Care Flexible Spending Accounts (FSAs), (2) Health Reimbursement Accounts (HRAs), (3)…
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Year-end planning: reducing exposure to the new 3.8% surtax on unearned income – Part I
Year-end tax planning for 2013 includes a new and unwelcome complication: the 3.8% surtax on unearned income. This two-part Practice Alert takes a look at year-end moves that can be…
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Safe harbor provides simplified option for claiming home office deduction
Rev Proc 2013-13, 2013-6 IRB, IR 2013-5 In a Revenue Procedure, IRS has provided an optional safe harbor method that individuals can use to determine the amount of their deductible…
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Tax Update
In late 2012, Congress agreed to resolve the so-called fiscal cliff with, among other things, various tax changes that were formally adopted in early 2013. These changes and other key…
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American Taxpayer Relief Act of 2012
The following is a summary of the most important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood.…
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Spring 2013 Statistics of Income
The Spring 2013 SOI showed that for 2010, taxpayers filed almost 4.3 million returns showing adjusted gross income (AGI) of $200,000 or greater. This represented about 3% of all returns…
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