BEWARE “IRS Phone Scam”

All Taxpayers need to be aware that tax scammers keep scamming after April 15.  The IRS even urges, “taxpayers to stay vigilant against calls from scammers impersonating the IRS.” These scammers call and threaten you with arrest, deportation, or revocation of your driver’s or other professional license

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The Affordable Care Act and Your 2014 Tax Return

The Affordable Care Act which passed in 2010 has finally kicked in and will impact the filing of your tax return this year. The requirement is that all Americans (unless exempt) must obtain qualified health insurance for the whole year. The insurance requirement is for you and

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BEWARE: The “New” IRA Rollover Rule

In 2014, a U.S. tax court reinterpreted the rules on rollovers between IRA accounts. A rollover is when an IRA holder withdraws money from a Traditional or Roth IRA and redeposits the money into the same type of IRA within 60 days.  During this period, the taxpayer

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Outrageous Tax Deductions

We are all on the look-out for ways to save money on our taxes. Here are five deductions taxpayers tried to take and were denied: THE COST OF TRAFFIC CITATIONS – Just because you are running late to a business meeting doesn’t make the cost of a citation

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Are We In For A Tax Filing Season Nightmare?

The Internal Revenue Service is slated to begin processing tax returns for the 2014 calendar year on January 20, 2015, while dealing with the Affordable Care Act and another round of congressional budget cuts. The IRS commissioner implored taxpayers to call the IRS with questions, only as

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Five Year-End Tax Planning Tips

• Take Advantage of Donating Stock: If you intend to make charitable contributions before year-end consider donating stocks directly to the charity. Instead of selling stock that has increased in value and donating the net proceeds, donate the stock directly. For stocks owned over a year, this

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