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 is, the...

March 2011 – What If You Can’t Pay Your Tax Liabilities?

What will happen and what you should do in the event that you cannot pay your taxes on time? First and most importantly, don't let your inability to pay your tax liability in full keep you from filing your tax return properly and on time.  It is also important to...

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,...

January 2011 – Changes for Tax Year 2011

Dear Client: The tax laws enacted in the last couple of years contain important income tax and information reporting provisions that are effective for the first time in 2011.  To inform you of what's new in the tax rules, here is a summary of the key tax changes for...

January 2011 – Recent Developments in Tax Law

Dear Client: While the new law tax changes in the bipartisan legislation that was enacted in late 2010 were the most significant developments in the fourth quarter of 2010, many other tax developments may affect you, your family, and your livelihood.  These other key...