What You Need to Know About IRS Scam Calls
This summer has seen an uptick in IRS scam calls, and an evolution of strategies from the scammers themselves. We have received many calls and e-mails attempting to verify whether or not a call is legitimate, and most have unfortunately been fraudulent. On August 2nd, the IRS released a bulletin in which Commissioner John Koskinen…
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Electronic Tax Payment Options
In recent years, the U.S. Treasury and Alabama Department of Revenue have become more accommodating to different tax payment methods. While the availability of bank draft and credit card payment options is nothing new, these methods are now available for free. Instead of fighting the tax day traffic at the post office, you can now…
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Itemized Deductions from A to Z, Part 12: Job Expenses and Miscellaneous Deductions
This is part twelve in our series on Itemized Deductions. To read the rest of the series, click here. For additional information regarding 2014 tax planning, you can download our 2014 Tax Planning Guide from the Resources tab on our website. We’re almost done with our series on itemized deductions. The final sections we’ll cover…
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Itemized Deductions from A to Z, Part 11: Some Rules Regarding Casualty and Theft Losses
This is part eleven in our series on Itemized Deductions. To read the rest of the series, click here. For additional information regarding 2014 tax planning, you can download our 2014 Tax Planning Guide from the Resources tab on our website. Thankfully, we don’t see a lot of casualty and theft losses. For a casualty…
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Itemized Deductions from A to Z, Part 10: Charitable Limitations and Carryovers
This is part ten in our series on Itemized Deductions. To read the rest of the series, click here. For additional information regarding 2014 tax planning, you can download our 2014 Tax Planning Guide from the Resources tab on our website. Your adjusted gross income (last line on page 1 of Form 1040) serves as…
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Happy Holidays!
Tax Extenders Law Passes…Finally!
After a long wait, Congress has finally passed a law that extends many popular tax provisions into 2014. These provisions, commonly known as “extenders”, have been hanging in limbo since they expired at the end of last year. The President still needs to sign the bill, but we expect that to happen any day now….
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Itemized Deductions from A to Z, Part 9: Motorized Donations
This is part nine in our series on Itemized Deductions. To read the rest of the series, click here. For additional information regarding 2014 tax planning, you can download our 2014 Tax Planning Guide from the Resources tab on our website. Donating a car, boat or airplane can be complicated, depending upon the value and…
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Itemized Deductions from A to Z, Part 8: More on Charitable Giving – Noncash Gifts
This is part eight in our series on Itemized Deductions. To read the rest of the series, click here. For additional information regarding 2014 tax planning, you can download our 2014 Tax Planning Guide from the Resources tab on our website. Noncash gifts are a mixed bag and have a lot of special circumstances. Let’s…
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Itemized Deductions from A to Z, Part 7: Charitable Contributions in Cash
This is part seven in our series on Itemized Deductions. To read the rest of the series, click here. For additional information regarding 2014 tax planning, you can download our 2014 Tax Planning Guide from the Resources tab on our website. Cash contributions are relatively straightforward—you donate $100 to a qualifying charity (no benefit provided…
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