Newsletter Archives
For Small Businesses: IRS Raises Tangible Property Expensing Threshold to $2,500; Simplifies Filing and Recordkeeping
The Internal Revenue Service has simplified the paperwork and recordkeeping requirements for small businesses by raising from $500 to $2,500
the safe harbor threshold for deducting certain capital items.
The change affects businesses that do not maintain an …
Tax Tips for Deducting Gifts to Charity This Holiday Season
The holiday season often prompts people to give money or property to charity. If you plan to give and want to claim a tax deduction, there are a few tips you should know before you …
Avoid Phishing and Malware to Protect Your Personal Data
“Update your account now.” “You just won a cruise!” “The IRS has a refund waiting for you.”
In the cyber world of phishing, the sentences are “bait” – lures from emails, telephone calls and texts all …
Three Tax Considerations during Marketplace Open Enrollment
When you apply for assistance to help pay the premiums for health coverage through the Health Insurance Marketplace, the Marketplace will estimate the amount of the premium tax credit that you may be able to …
Upcoming Tax Deadlines
December 2015
Tu 15 Corporations: Deposit the fourth installment of your 2015 estimated tax.
January 2016
Th 15 Individuals: Pay the final installment of your 2015 estimated tax. Use Form 1040-ES.
Th 15 Farmers and fishermen: Pay your estimated tax for …
Items to Bring or Email
Personal information
- Last years income tax if you are a new client
- Name, address, Social Security number and Date of Birth for yourself, spouse and dependents
- Dependent Provider, Name, Address, Tax ID and S.S.N.
- Banking information if Direct Deposit Required
- Driver’s license for both spouses
- Phone numbers and email addresses
Income Data Required
- Wages and/or Unemployment – Form W-2
- Interest and/or Dividend Income – Form 1099-Int 1099-Div
- State/Local income tax refunded
- Social Assistance Income
- Pension/Annuity/Stock or Bond Sales – Form 1099-R
- Contract/Partnership/Trust/Estate Income – Form K-1
- Gambling/Lottery Winnings and Losses/Prizes/Bonus
- Alimony Income
- Rental Income
- Self Employment/Tips
- Foreign Income
- Social Security Benefits received – Form SSA1099
- If business: all income support of the business for the year, any 1099 Forms
Expense Data Required and other documents
- Dependent Care Costs
- Education/Tuition Costs/Materials Purchased
- Medical/Dental
- Mortgage/Home Equity Loan Interest/Mortgage Insurance
- Employment Related Expenses
- Gambling/Lottery Expenses
- Tax Return Preparation Expenses
- Investment Expenses
- Real Estate Taxes
- Estimated Tax Payments to Federal and State Government and Dates Paid
- Home Property Taxes
- Charitable Contributions Cash/Non-Cash
- Purchase qualifying for Residential Energy Credit
- IRA Contributions/Retirement Contributions
- Home Purchase/Moving Expenses
- Interest and points paid to bank on primary residential – Form 1098
- Health Insurance coverage – Form 1095-B or Form 1095-A
- If business: all expense support related to this business for the year