2015 Tax Planning Letter

2015 is almost behind us and the time to file income taxes is fast approaching. We are looking forward to seeing you again as we assist you with your income tax preparation over the next several months. We have compiled a list of planning tips and suggestions in our year end letter and recommend [...]

By |2016-12-21T12:05:07-07:00December 7, 2015|Tax Planning, Tax Tips|

Additional Medicare Tax

Additional Medicare Tax Some taxpayers may be liable for an Additional Medicare Tax if your income exceeds certain limits. Here are six things that you should know about this tax: Tax Rate.  The Additional Medicare Tax rate is 0.9 percent. Income Subject to Tax.  The tax applies to the amount of certain income that [...]

2014 IRA Contribution

Still Time to Make Your IRA Contribution for the 2014 Tax Year Did you contribute to an Individual Retirement Arrangement last year? Are you thinking about contributing to your IRA now? If so, you may have questions about IRAs and your taxes. Here are some IRS tax tips about saving for retirement using an [...]

By |2016-12-21T12:10:07-07:00April 6, 2015|Tax Planning, Tax Tips|

Obtaining and Claiming a Health Coverage Exemption

Obtaining and Claiming a Health Coverage Exemption The Affordable Care Act requires you and each member of your family to have minimum essential coverage, qualify for an insurance coverage exemption, or make an individual shared responsibility payment when you file your federal income tax return. If you meet certain criteria, you may be exempt [...]

By |2016-12-21T12:10:33-07:00March 10, 2015|General Information, Tax Planning|

Make the Most of a Health Savings Account

If you have a health insurance policy with a high deductible, you may be eligible to contribute to a health savings account. An HSA provides a triple tax break: Contributions are tax-deductible (or pretax if made through your employer), the money grows tax-deferred, and you can use it tax-free for medical expenses. You can [...]

By |2016-12-21T12:11:41-07:00December 23, 2014|Tax Credits & Deductions, Tax Planning|

Year End Tax Tips For Employees

As year-end approaches, taxpayers generally are faced with a number of choices that can save taxes this year, next year or both years. Employees too are faced with these choices. To help our clients who are employees take advantage of these special tax saving opportunities, we have put together a list of items to [...]

By |2016-12-21T12:11:58-07:00December 9, 2014|Tax Planning, Tax Tips|
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