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
Category Archives: General Tax
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
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
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
Incentive Stock Options – Cut your taxes and plan! One way to incentivize employees to work harder is to provide them with employee incentive stock options. This type of stock option usually vests in one year or more after the … Continue reading
3 March 2012
IRS Tax Return Fun Facts 2011-2012
Tax Fun Facts 140 million tax returns were filed in 2011 100 million refunds were issued totaling $300 billion! 80% of all returns were e-filed The IRS cost per e-filed tax return is $.80. A paper return cost $3.50! 2012 … Continue reading
3 March 2012
Income Tax Benefits of Contributing to a ROTH IRA
ROTH IRA A Roth IRA is a unique retirement savings vehicle that has multiple uses. For individuals who qualify for a ROTH IRA, the account funds can be used to help pay for education expenses or a first time home … Continue reading
NOW is a GREAT time to buy real estate as an investment and hold it for the long term Mortgage rates are at all time lows. And the mortgage interest deduction is one of the most valuable deductions on the … Continue reading
| < NEWER | 11 of 13 | OLDER > |