“Tax Shock” Awaits Many on 2013 Tax Returns

While most taxpayers are aware of the many tax changes that are effective for the 2013 tax year, many taxpayers may not be.  They may be surprised to learn that the tax landscape has shifted precipitously for those who find themselves on the wrong side of a

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A Corporation’s Capital Gain and loss Rules

This post discusses the tax treatment of your corporation’s capital gains and losses.  The treatment of capital gains and losses for corporations is different from the treatment of such items for individual taxpayers in several important ways.  In particular, as discussed more fully below, there is no favorable

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Year-End Tax Planning: Be Smart, Start Now

I did all the work for you, so all you have to do is read.  Year-end tax planning could be especially productive this year because timely action could nail down a host of tax breaks that won’t be around next year unless Congress acts to extend them,

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Tax Benefits from Hiring Your Children

Although unemployment figures are slowly improving, it can still be extremely difficult, if not impossible, in the current job market for some college students and recent graduates to find seasonal or permanent jobs. As this article explains, in addition to the family business perhaps being a child’s

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Congress Approves Fiscal Cliff Deal

The House passed a deal to avert an income tax rate increase on middle-class families on Tuesday night, following a New Year’s Eve vote by the Senate, sending the bill to President Obama for his signature.  Details of the new law…

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How can lease options help me in this slow economy?

Property owners who’ve had trouble locking down sales are offering potential buyers a gradual approach to purchasing their property — lease options. Although a lease option may not be the ideal structure for a sales transaction, it offers some attractive benefits, especially in today’s down market. This

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