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Gifts for 2013
This is not about charitable donations to a 501(c)(3) organization. It is about just giving stuff away. How much can I give (gift) without any tax? $13,000 ( 2009 – present) is the amount of stuff that can be gifted with no gift tax… based on this amount to any one individual in a calendar…
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Club dues – deduction?
Business related meals and entertainment are deductible…. You cannot, however, deduct dues (including initiation fees) for membership in any club organized for pleasure, recreation or other social purposes. […]Read More… from Club dues – deduction?
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Can you Amend Married Filing Joint to Married Filing Separate
Everyone pretty muich knows you can take two Married Filing Separate Returns and combine them to one Married Filing Joint return. GENERALLY this has a better tax effect for the family. But, can you take Married Filing Joint and split that return into two Married Filing Separate? The answer is YES… BUT it must be…
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Sub S Late Filing Penalty for 2011
Sub S Late Filing Penalty for 2011 The penalty for late filing of a Sub S return (this includes not filing a timely extension) for 2011 is $195 per month x number of shareholders (up to 12 months). When the penalty is accessed, you should call the 800 number on the notice. Tell the agent,…
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2012 IRS Forms (the most used) are almost ready for E-Filing!
WASHINGTON — The Internal Revenue Service announced today that taxpayers will be able to start filing two major tax forms next week covering education credits and depreciation. Starting Sunday, Feb. 10, the IRS will start processing tax returns that contain Form 4562, Depreciation and Amortization. And on Thursday, Feb. 14, the IRS plans to start processing Form…