It has been an interesting year for income tax law changes.
–The “Making Work Pay Credit” which provided up to $800 additional credit for many working couple’s returns expired at the end of 2010.
–There is no longer a provision for excluding health insurance premiums from SE Tax calculation for self-employed individuals.
–Expenses for over-the-counter medicines previously eligible [...]
There is still time to plan to help reduce your 2011 income taxes. The IRS has provided the following guidance.
Six Year-End Tips to Reduce 2011 Taxes
To help you organize your paperwork before our first appointment, I have organizers available in your LockBox.
Unfortunately, marriages do not always last. A previous post noted several items which should be considered if you are in a pending divorce situation. An article in the Journal of Accountancy lists several issues you should discuss with your attorney and accountant if you are going through divorce proceedings. A couple which can be overlooked [...]
Here are a couple of summaries (in different formats) of the most recent Tax Acts. These should help you gather information for 2010 returns and plan for tax year 2011.
Client Alert 1 Tax Relief Act
Tax Relief Act-Client Quick Guide 1
Tax Relief Act-Client Quick Guide 2