Second Quarter Estimated Tax Payments Due June 15
Second quarter estimated tax payments for individuals, estates and trusts, and C corporations are due on Monday, June 15, 2015. If your payments are not paid or postmarked by this date, penalty and interest charges will incur. Remember you can make your payments online. Electronic payments should be initiated on or before Friday, June 12…
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Identity Theft: 3 Steps to Take if Your Identity is Stolen
I recently read a news article that reported more than 70 million Americans have had their data compromised in one form or another. The Identity Theft Resource Center reported the number of tracked data breaches hit 783 in 2014. Of the total, the highest percentage (42.5%) of breaches were reported in the medical and healthcare…
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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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Form 1099 Reporting Regulations
Most individuals and businesses do not have a good grasp on when a 1099 is required. Generally, if you are self-employed or own a business you probably have an obligation to file. At last count, there were 16 varieties of the 1099 but by far the most common is the 1099-Misc. A filing is required…
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Tax Deadlines – Keeping Up With What To Do and When
With the flurry of tax deadlines occurring in the first few months of the year, it is difficult to keep track of what needs to be done and when. In order to help you effectively comply, we offer the following list of tax “to do’s” from January through April: January 15th – Fourth Quarter Estimated…
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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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