If you have the good fortune to give large sums money to either family members, friends or even strangers, the IRS allows you to gift up to $13,000 per year tax free to an individual. While the giver has to … Continue reading
3 April 2012
ERock Tax Tip – Keep track of Home Improvements
Keep Track of your Home Improvements In these days of deflated home values, it is hard to think that we will ever make a profit on our homes when we one day sell them. However, that shouldn’t stop you from … Continue reading
Traditional IRA to ROTH IRA! With wild swings in the stock market over the past few years, changing a ROTH account back to a traditional IRA and then reconverting the account back to a ROTH may result in big … Continue reading
A ROTH IRA is a unique retirement savings vehicle. Unlike a traditional IRAs where taxpayer contributions are tax deductible in most cases, contributions to a ROTH IRA are not. The tax benefit of contributing to a ROTH IRA comes at … Continue reading
19 March 2012
ERock Tax Tip of the Day – Pay Estimated Taxes
The law requires us to pay taxes in a timely manner, either through our w2 or via estimated taxes. Did you recently start a business or become a consultant in the past year? If you did and expect to make … Continue reading
The adoption credit is an extremely valuable IRS credit that often goes unnoticed. Over the years, i have known many families who have adopted children from the Unites States and beyond. Adopting a child is not only a life changing … Continue reading
19 March 2012
ERock Tax Tip of the day – Deduct your Gambling Losses
Do you gamble? You may get tax write offs. Gambling as a source of revenues for state governments can be a hot button for many citizens, but the IRS has decided that gambling is a necessary evil that is not … Continue reading
16 March 2012
5 Money Tips for Small Business Owners
I’ve worked with clients so wide and varied over the years you could say a lot of them have shared nothing in common. Not personally, not physically, not culturally or politically. Yet, in one crucial way, so many of them … Continue reading
10 March 2012
ERock Tax Tip – Start a Flexible Spending Account (FSA)
Tax Tip of the Day – Start an FSA If you incur out-of-pocket medical expenses that are not reimbursed by your health plan, you may benefit from a Flexible Spending Account (FSA). Many employers offer a FSA to pay for … Continue reading
Unemployed individuals often need to pay tax too! As of January 6, 13.1 million people, or 8.5% of the workforce still remain unemployed.* Both the U.S. and state government departments of employment assistance created a vast safety net for those … Continue reading
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