Tax Pro Plus
2999 Overland Ave.
Suite 204
Los Angeles, CA 90064
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Ph: (310) 827-4829
Fax: (310) 842-7160
info@taxproplus-la.com
Dear Valued Client,
With the uncertain economy and tax policy, it is more important than ever to carefully plan your financial future. This firm will continue to keep you up-to-date with the latest strategies, law changes and planning options. This edition of our client newsletter covers some of the latest developments.
If you have any questions or want to schedule a tax planning appointment, feel free to contact us at your convenience.
Tax Pro Plus
With the uncertain economy and tax policy, it is more important than ever to carefully plan your financial future. This firm will continue to keep you up-to-date with the latest strategies, law changes and planning options. This edition of our client newsletter covers some of the latest developments.
If you have any questions or want to schedule a tax planning appointment, feel free to contact us at your convenience.
Tax Pro Plus
Will Your Deductions Be Cut to Solve Deficit Woes?
The Joint Select Committee on Deficit Reduction (JSC) is set to convene soon with the goal of reducing the deficit by $1.5 trillion. How will they come up with that amount? Some sources think they may consider fundamental tax changes that include cutbacks to itemized deductions for individuals.
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Without a Fix, the AMT will Snare Millions of Taxpayers - Are You in the Crosshairs?
A recently released Congressional Research Service (CRS) Report entitled “The Alternative Minimum Tax for Individuals” examines the effects of the Alternative Minimum Tax (AMT) without yet another Congressional fix.
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Don’t Miss Out on the Domestic Production Deduction
Originally enacted to help offset the repeal of a tax break for U.S. exporters, this provision of the tax code provides a deduction for many U.S. businesses that’s allowed for both regular tax and alternative minimum tax (AMT) purposes. And, despite the deduction’s history, it’s fully available to taxpayers who don’t export.
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Don’t Forget Your Retirement!
Even though retirement may be years away, and it may not be the most pressing issue on your mind these days, don’t forget your retirement contributions, especially with generous government incentives involved.
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Did Your 2010 Roth-Converted Account Decline in 2011?
If you converted your traditional IRA to a Roth IRA during 2010 and paid (or will pay) the tax on the conversion and then watched the value of the account decrease due to the overall decline of the stock market in 2011, you still have an opportunity to do something about it.
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Last Year for Tax-Free Charitable Donations from IRAs
If you are 70.5 years of age or older and are considering making a donation to a charity, you may wish to consider the option of making the contribution from your IRA account.
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Last-Chance Opportunity to Deduct General Sales and Use Taxes?
For 2011, taxpayers have the option of deducting the amount of state and local income tax that they paid during the year or, if they so elect, of deducting their state and local general sales and use taxes as an itemized deduction on their federal income tax return. This choice is currently scheduled to expire at the end of 2011.
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QuickBooks 2012: New Paths to Better, Faster Financial Management
As it usually does this time of year, Intuit has introduced new versions of its Pro and Premier products. QuickBooks 2012 promises to help you get better organized, save steps, and acquire more in-depth financial insights.
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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.
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