News Articles

22

April

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2015 Tax Planning Starts Now

2015 Tax Planning Starts Now Whether you filed your 2014 income tax return by the April 15 deadline or filed for an extension, you may think that it’s a good time to take a break from thinking about taxes. But doing so could be costly. Now is actually the time you should begin your 2015 … Continued

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08

April

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A net operating loss on your tax return isn’t all bad news

A net operating loss on your tax return isn’t all bad news When a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs (though of course the specific rules are more complex). If you’ve found when filing your income tax return that your business had an NOL, there is an upside: … Continued

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02

April

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Filling a paper return? Understand the Timely Mailed Timely Filed Rule

Filling a paper return? Understand the Timely Mailed Timely Filed Rule The IRS considers a paper return that’s due April 15 to be timely filed if it’s postmarked by midnight on April 15. But dropping your return in a mailbox on the 15th may not be sufficient.  You need to understand the Timely Mailed Timely … Continued

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25

March

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2014 IRA Contribution Deadline: April 15

2014 IRA Contribution Deadline: April 15 The 2014 IRA contribution deadline is April 15, 2015. The limit for total contributions to all IRAs generally is $5,500 ($6,500 if you were age 50 or older on Dec. 31, 2014). If you haven’t already maxed out your 2014 limit, consider making one of these types of contributions by … Continued

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13

March

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Tangible Property Safe Harbors

Tangible Property Safe Harbors If your business has made repairs to tangible property, such as buildings, machinery, equipment and vehicles, you may be eligible for a deduction on your 2014 income tax return. But you must make sure they were truly “repairs,” and not actually “improvements.” Why? Costs incurred to improve tangible property must be … Continued

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