by apexcpas | Jul 4, 2018 | Tax Planning
Fall is a season when many people are cleaning out garages, basements and closets. If you are not having a tag sale and some items look too good for the dump, consider contributing them to charity. You can get a tax deduction for whatever the item is worth. When you...
by apexcpas | Jul 4, 2018 | Tax Planning
The IRS has announced that, for tax year 2012, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation. By law, the dollar amounts for a variety of tax provisions must be revised each year to keep pace with inflation. New...
by apexcpas | Jul 4, 2018 | Tax Planning
You have seen the ads on television from tax services that claim they can settle your tax debts for pennies on the dollar. Sometimes you wonder whether these claims are too good to be true. A recent court case demonstrates the difficulties involved in settling tax...
by apexcpas | Jul 4, 2018 | Tax Planning
As the end of 2011 approaches, now is a good time to start year-end tax planning to minimize your individual and business tax burden. Generally, year-end tax planning involves considering at least two years – in this instance, 2011 and 2012. With tax changes on the...
by apexcpas | Jul 4, 2018 | Tax Planning
Unless Congress acts to again extend the expiration date, 2011 may be the last year those age 70½ and older will benefit by making contributions of up to $100,000 directly from their IRA to a qualified charity. This type of direct IRA-to-charity...