Newsletter

October 2011 – Year-End Tax Planning For Businesses

Business taxpayers, like all taxpayers this year, are confronted with uncertainty in year-end tax planning as 2011 ends. These incentives include widely-popular and utilized ones, such as 100 percent bonus depreciation, enhanced small business expensing, real property...

August 2011 – Individual Estimated Tax

Dear Client: We are writing to you to explain why it may be necessary for you to make estimated tax payments and the applicable rules for paying the minimum amount of estimated tax without triggering the penalty for underpayment of estimated tax. Individuals must pay...

May 2011 – Savings Bonds for Higher Education

Dear Client: You recently asked about investing in U.S. savings bonds to take advantage of tax-free interest where the bonds are used to pay for college tuition. Here’s how the rules work:  The bond must be issued to an individual at least 24 years old.  That...

February 2011 – How Long to Hold on to Your Tax Records?

Dear Client: You have asked for guidance on how long you should retain your personal income tax records.  These records may have to be produced if IRS (or a state or local taxing authority) was to audit your return or seek to assess or collect a tax.  In addition,...