Time is running out to make your Out-of-Pocket medical expenses into deductible business expenses.
We can show you how to use the tax code to actually SAVE you money by taking advantage of medical expenses, instead of wasting them as non-deductible expenses on Schedule A.

The tax filing season for 2013 income taxes will open January 31, 2014, according to the IRS.
Extensions and tax returns may begin to be electronically filed at that time, but if the experience of the last two years is any indication, the IRS systems will be overloaded and filing will be delayed for another day or so.
The normal filing deadline of April 15 for personal income taxes falls on Tuesday this year, so do not expect any extra filing days. When in doubt, the safe bet is to file an extension!

The IRS has announced new simplified rules for the home office deductions, which may actually benefit many Schedule C business owners.
The new rules give a standard deductible amount for area of office and eliminate other calculations but give the deductions associated with normal home office rules.
Make sure your tax preparer calculates your home office deduction BOTH ways, to ensure you are getting the best deductions for your personal income taxes in 2013.

Are you one of the people who begins planning for the current tax year with only 2 months left in the year?
Although Congress hasn’t officially past the tax law for 2013, many of the tax requirements and deductions will not change.
Documenting your business mileage for deduction purposes seems to be one of the most difficult items taxpayers face.
Talk to your tax professional today about ways to simplify your mileage documentation, and get in the routine today!

The last big deadline looming for the 2012 tax season is the filing deadline for personal income tax returns, which is Tuesday, October 15, 2013.
If you are still putting off filing your taxes, now is the time to pick up the phone and call us to get filed on time!
We are also working with clients to prepare for the 2013 tax year….it’s coming, ready or not!

The deadline to file 2012 corporation tax returns is Monday, September 16, 2013.
No additional extensions are available, so penalties and interest can be very expensive if you don’t file on time.
Call us to discuss your options, or ask us to prepare your returns on time!

The US Treasury announced that domestic partners will be allowed to claim the “Married Filing Joint” status for federal income tax returns for the 2013 tax year, if the couple has a valid marriage license from a state that recognizes their union, even if they do not currently live in that state. In addition, the couple may be eligible to file amended returns to claim additional deductions and possible refunds for the prior 3 tax years.

If you or your partner is affected by this tax ruling, our firm can assist you in filing your 2013 tax returns and any prior tax returns that you may qualify to amend.

This also means that your 2013 tax situation may need to be reviewed BEFORE the end of this tax year, so that you can take full advantage of the tax code changes.
Don’t wait until December to see how you are affected……pick up the phone and call us today!
Check this link to see the full article: http://www.nbcnews.com/business/same-sex-marriage-tax-benefits-irs-8C11034114

The deadline for filing corporation taxes under extension is rapidly approaching! The filing date is Monday, September 16, 2013, for the 2012 tax year.
If you are putting off getting your information ready….don’t wait any longer. The longer you wait, the more it will cost to file on time.

Tax Season is off to a running start, and many people are asking “Where is My Refund?”
According to the IRS, the “Where’s My Refund” page on the IRS website is having “sporatic” outages, thanks to the many people who have filed, and the slow response of the IRS to issue refunds. But, not all blame rests with the IRS….several states have issues in communicating with the IRS as well and those issues are being addressed to improve the speed of refunds issued.
Some personal returns are still on hold because the IRS has not approved final forms for more than two dozen personal income tax forms.
The best way to check your refund is to use the IRS website and click on “Where’s my Refund.”

The IRS announced on Friday, February 8, that it will begin accepting tax returns with Form 4562 (Depreciation) as part of the tax return on Monday, February 11, 2013.

The IRS had notified tax preparers on January 30 that tax returns containing Form 4562 would not be able to be filed, either electronically or in paper form, before March 1, and possibly not until March 15.

This change will benefit many small businesses who file as S-Corporations and Partnerships, and those individuals who file Schedule C business returns or who may have Schedule E rental property. Until this point, preparers could enter information but were unable to do anything else because some of the forms contained in the tax returns had not been approved by the IRS.

Currently, we are not aware of any plan to extend the filing deadline of March 15 for corporation returns, or the partnership or personal return filing deadline of April 15. As always, the option of filing an extension (Form 7005 for corporate, or 4868 for personal returns) is an option.

If you have questions concerning the filing of your tax returns, please consult a tax professional.