Tax Pro Plus
2999 Overland Ave.
Suite 204
Los Angeles, CA 90064
Map It!
Ph: (310) 827-4829
Fax: (310) 842-7160
info@taxproplus-la.com
Dear Valued Client,
This edition of our newsletter covers some helpful tax-planning tips and reminders. Proactive tax-planning is crucial to make sure you are not paying more than you have to. Keep in mind that you can make an appointment throughout the year for other services that you may need.
Your continued patronage and referrals are greatly appreciated.
Tax Pro Plus
This edition of our newsletter covers some helpful tax-planning tips and reminders. Proactive tax-planning is crucial to make sure you are not paying more than you have to. Keep in mind that you can make an appointment throughout the year for other services that you may need.
Your continued patronage and referrals are greatly appreciated.
Tax Pro Plus
Limited Window of Opportunity
Last December, Congress extended a number of the Bush-era tax breaks, but only for a limited length of time. It is probably a safe bet that most won’t get extended further, considering the size of the national debt. Although numerous tax breaks were extended, only a few provide you with an opportunity to take actions that can reduce your tax bite. But if you want to take advantage of those tax breaks, you need to act this year or next. Here is a list of those extended tax breaks and what will happen when they expire.
Read the article »
 Print-Friendly | Send to Friend | Ask a Question |
Standard Mileage Rates Boosted July 1
The IRS recently announced that it is revising the optional standard mileage rates for computing the deductible costs of operating an automobile for business, medical, or moving expense purposes and for determining the reimbursed amount of these expenses that is deemed substantiated. This modification results from recent increases in the price of fuel. These increased rates are effective July 1, 2011.
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
Is the IRS Withholding Some or All of Your Refund?
If the IRS kept all or a portion of your federal refund, it may be because you owe money for certain delinquent debts. If that is true, the IRS or the Department of Treasury's Financial Management Service (FMS), which issues IRS tax refunds, can offset or reduce your federal tax refund or withhold the entire amount to satisfy the debt.
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
Tips to Help You Determine if Your Gift Is Taxable
If you give someone money or property, you may be subject to the federal gift tax. Most gifts are not subject to the gift tax, but here are some tips to help you determine whether your gift is taxable or if you are required to file a gift tax return.
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
Manage the Tax on Your Social Security Benefits!
Social Security (SS) income is not taxable until a taxpayer’s AGI (without Social Security income) plus 50% of their Social Security income plus tax-exempt interest income, and plus certain other infrequently encountered additions exceeds a specific threshold. The threshold is $32,000 for married taxpayers filing jointly, zero for married taxpayers filing separately and $25,000 for all others. Once the threshold is exceeded, the Social Security income subject to tax varies from 50% to 85%.
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
Taking Advantage of the Deduction for Domestic Production Activities
The domestic production activities deduction was created to encourage manufacturing and production within the U.S., and it provides a substantial business deduction equal to 9% of the lesser of:
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
Are Charity Auction Purchases Deductible Contributions?
It is common practice for charities to hold auction events at which attendees bid on and purchase items. The question often arises as to whether the money spent on the items purchased constitutes a charitable donation.
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
Add/Edit Multiple List Entries Simplifies Record Changes
Data entry and modifications in QuickBooks can be tedious. Beginning with QuickBooks 2010 Pro Edition and above, that job got a lot easier. The Add/Edit Multiple List Entries tool does just what its name implies: It lets you add entries to your lists of customers, vendors, services, inventory parts, and non-inventory parts. It also makes changing one or several of them quick and easy.
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
The Tax Pro Plus newsletter is available via e-mail on a free subscription basis. You can subscribe or unsubscribe at any time. For more information about - Tax Pro Plus, go to http://www.taxproplus-la.com. This message was sent using ClientWhys Persyst. View our permission marketing policy.
Disclaimer: The tax advice included in this newsletter is an overview of some complex tax rules and is not intended as a thorough in-depth analysis of the tax issues discussed. Do not act on the information included in this newsletter without first determining how these issues apply to your particular set of circumstances and if there are any special tax laws or regulations that might apply to your situation.
  |
|  |