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Retirement Plan Contribution Limits for 2018

Retirement Plan Contribution Limits for 2018 The Internal Revenue Service issued the annual cost of living adjustments Thursday for 401(k) contributions, pension plans and other retirement-related matters. The contribution limit for workers who are enrolled in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan has grown from $18,000 to $18,500. [...]

By |2017-10-24T09:25:00-07:00October 24, 2017|General Information, Tax Planning, Tax Tips|

Should I File a Tax Return?

Should I File a Tax Return? Most people file a tax return because they have to. Even if a taxpayer doesn’t have to file, there are times they should. They may be eligible for a tax refund and not know it. Here are five tips on whether to file a tax return: General Filing [...]

By |2017-09-18T08:46:50-07:00September 18, 2017|General Information, Tax Rules & Laws, Tax Tips|

Eight Tips to Prevent Identity Theft

Eight Tips to Prevent Identity Theft Identity theft happens when someone steals personal information for financial gain. Tax-related identity theft happens when someone uses another person’s stolen Social Security number (SSN) or Employer Identification Number (EIN) to file a tax return to obtain a fraudulent refund. Many people first find out they are victims [...]

By |2017-08-28T09:01:47-07:00August 28, 2017|General Information, Tax Tips|

Debt Cancellation May be Taxable

Debt Cancellation May be Taxable If a lender cancels part or all of a debt, a taxpayer must generally consider this as income. However, the law allows an exclusion that may apply to homeowners who had their mortgage debt canceled in 2016. Here are 10 tips about debt cancellation: Main Home. If the canceled [...]

By |2017-08-07T13:59:41-07:00August 7, 2017|General Information, Tax Planning, Tax Rules & Laws, Tax Tips|

The Fair Wages and Healthy Families Act

THE FAIR WAGES AND HEALTHY FAMILIES ACT Earned Paid Sick Time  Employers: click here to download a pdf of the AZ Earned Paid Sick Time Poster 2017 EXEMPTIONS: The Fair Wages and Healthy Families Act (the “Act”) does not apply to any person who is employed by a parent or a sibling; any person [...]

By |2017-06-29T16:26:10-07:00June 29, 2017|General Information, Tax Rules & Laws|

Moving Expenses Can Be Deductible

Moving Expenses Can Be Deductible Did you move due to a change in your job or business location? If so, you may be able to deduct your moving expenses. Moving expenses can be deductible and taken as a deduction to Adjusted Gross Income. Here are some tax tips for moving expenses. In order to [...]

By |2017-05-22T09:43:47-07:00May 22, 2017|Tax Credits & Deductions, Tax Tips|

2017 Mileage Rates

2017 Mileage Rates The Internal Revenue Service has issued the 2017 optional standard mileage rates to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning Jan. 1, standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 53.5 cents per [...]

By |2016-12-21T15:36:46-07:00December 21, 2016|Tax Credits & Deductions|

2016 Year-End Letter

2016 Year-End Letter 2016 is coming to an end and it will soon be time to file income taxes. We look forward to seeing you again as we assist you with your income tax preparation. We have compiled a list of planning tips and suggestions in our year-end letter and recommend that you take [...]

By |2016-12-21T12:01:22-07:00December 5, 2016|Tax Tips, Tax Tips for Businesses|

Home Office Deduction Tips

Home Office Deduction Tips If you use your home for business, you may be able to deduct expenses for the business use of your home. If you qualify, you can claim the deduction whether you rent or own your home. You may use either the simplified method or the regular method to claim your [...]

By |2016-12-21T12:01:33-07:00November 21, 2016|Tax Credits & Deductions|
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