Blog

Charitable Donations from Your IRA

Can you take advantage? One of the temporary tax provisions made permanent as part of the tax code in late 2015 is qualified charitable distributions from IRAs for those who have reached age 70½. Unfortunately in 2014 and 2015, the law was extended too late during the calendar year to… Read More

Plan for Tax Filing Season Changes

In an effort to reduce the amount of money paid to identity thieves who file fraudulent returns, the IRS will be implementing changes in the timing and way they handle the processing of tax returns. These steps will continue to evolve, but recent changes will impact millions who depend on… Read More

The IRS is Not Always Right

Quotes from actual IRS correspondence received by clients: “Our records show we received a 1040X…for the tax year listed above. We’re sorry but we cannot find it.” “Our records show you owe a balance due of $0.00. If we do not receive it within 30 days, appropriate collection steps will… Read More

Ten Clever Vacation Tips

Summer often means vacations. And for those who wish to travel light with few surprises, here are ten clever vacation tips. The 5, 4, 3, 2, 1 rule. Having trouble packing light? Consider using a popular online technique called 5, 4, 3, 2, 1. There are a number of versions… Read More

Protecting Your Social Security Number

              Very few things in life can create a higher degree of stress and hassle than having your Social Security Number (SSN) stolen. This is because, unlike other forms of ID, the SSN is virtually permanent. While most instances of SSN theft are outside… Read More

2017 Health Savings Account Limits Announced

The savings limits for the ever-popular Health Savings Accounts (HSA) are now set for 2017. The new limits are outlined here with current year amounts noted for comparison purposes. What is an HSA? An HSA is a tax-advantaged savings account to pay for qualified health care costs for you, your… Read More

The Chances of Being Audited

2015 audit statistics show continued changes What are the Chances? Every year the IRS publishes the statistics on the number of tax returns they are examining. Provided here are the last three years of published information and a look back to 2008 to see any trends: Percent of Individual Tax… Read More

New Overtime Rules

Employer and employee alert On May 18, 2016 President Obama and Labor Secretary Perez announced new Department of Labor overtime regulations that go into place December 1, 2016. The Federal Labor Standards Act (FLSA) has information everyone needs to know to comply with these new rules. The changes Any worker… Read More

Ghosting Identity Theft

To most people “ghosting” is the act of breaking up with a boyfriend or girlfriend by breaking off all contact. Now there is a new ghosting phenomena; stealing the identity of a recently deceased loved one. Ghosting protocol Would-be identity thieves scour obituaries to find as much personal information as… Read More

Ideas to Manage the Burden of Student Debt

Each year a new crop of graduating high school seniors begin their collegiate careers while college graduates consider the opportunities that graduate school provides. As a result, the mountain of student debt continues to build. While this debt is unavoidable, here are some ideas to help make that mountain a… Read More