So – you’ve gone through the effort of calculating and filing your tax return, or maybe you went to a tax preparer (just hopefully not the one with the clown in a statue suit!) and your return has been filed.  You see that you’re going to be getting a sizeable refund this year – in [...]

The proliferation of tax software along with free electronic services that complete US Tax returns has been on a tear over the last several years. In an outstanding article from the New York Times , pointed out to me yesterday by clients who dropped by the office, states an important point, “Trust but Verify” especially when downloading transactions directly from statement vendors.[...]

The IRS gives each of us a standard deduction for Federal Income Tax purposes. According to the IRS Website, the standard deduction is a dollar amount which reduces the income in which you are taxed. This amount is adjusted for inflation and also increases at certain age levels.
This deduction is certainly generous from and IRS [...]

So – you’re all set to do your taxes.  And then… you realize you’re missing something.  One of your W2’s hasn’t shown up in the mail.  Maybe it was a short-term or a part-time gig, or maybe the business changed hands – or maybe it just got lost in the mail.
Whatever the reason, you’re short [...]

The start of a new year often signals a time for change–especially when it comes to taxes, and 2010 has brought some major changes. As of January 1, the federal estate and generation-skipping transfer (GST) taxes are repealed, and the step-up in basis rule is modified for 2010. While it’s possible (and some believe very likely) that Congress will reinstate these taxes, until that time, it’s important to understand these significant federal tax law changes and how they might affect you.[...]

As we move deeper into tax season, I am seeing a trend in my office. I am finding more and more clients are waiting on tax documents, and the missing information is making everyone wait. It’s certainly not my clients’ fault. Actually, the problem…