March 31, 2016

Deducting Startup Costs for Your New Business at Tax Time

 

Before you earn your first dollar, before you are even open for business, your startup can incur considerable expenses. The money you spend opening your business can often be deducted; the IRS allows you to dedu...

March 30, 2016

Article Highlights:

  • Balance due payments

  • Contributions to a Roth or traditional IRA

  • Estimated tax payments for the first quarter of 2016

  • Individual refund claims for tax year 2012

 

Just a reminder to those who have not yet filed their 2015 tax retur...

March 25, 2016

Article Highlights:

  • Balance due payments

  • Contributions to a Roth or traditional IRA

  • Estimated tax payments for the first quarter of 2016

  • Individual refund claims for tax year 2012

 

Just a reminder to those who have not yet filed their 2015 tax retur...

March 22, 2016

Article Highlights:

  • Penalty Being Phased in Over Three Years

  • Larger of Two Amounts

  • Flat Dollar Amount

  • Percentage-of-Income Amount

  • Penalty Applied by Month

Many taxpayers are surprised by the size of the penalty being imposed for not having heal...

March 22, 2016

Article Highlights:

  • Income as a Factor

  • Filing Status as a Factor

  • 85% Maximum Taxable

  • Base Amounts

  • Deferring Income

  • Maximizing IRA Distributions

Whether your Social Security benefits are taxable (and, if so, how much of them are) depends on...

March 22, 2016

Article Highlights

 

  • 2015 IRA contributions can be made through April 18, 2016.

  • 2015 SEP IRA & Solo 401(k) contributions can be made through October 17, 2016.

  • 2015 Health Savings Account contributions can be made through April 18, 2016.

  • 2015 Coverdell...

March 6, 2016

 

 

 

 

Article Highlights:

  • Noncash Charitable Contributions

  • Establishing Donation Value

  • Fair Market Value

  • Documentation Requirements

  • Appraisal Requirements

 

One of the most common tax-deductible charitable contributions encountered is that of hous...

March 2, 2016

Article Summary:

  • Foreign Account Reporting Requirement

  • Financial Crimes Enforcement Network

  • Penalties for Failure to File

  • Type of Accounts Affected

  • Form 8938 Filing Requirements

Some years ago, Senate hearings revealed that many Americans were...

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McNair and Associates, P.A. CPA's
1250 S. U.S. Highway 17-92, # 250
Longwood, Florida 32750

 

Telephone: (407) 830-5717
Facsimile: (407) 830-1601

 

 

Providing Professional Tax

and Accounting Services For Over 30 Years

Members Florida Institute of Certified Public Accountants

© 2015 ALL MATERIALS ON OUR WEB SITE (MATERIALS) ARE PROVIDED SOLELY FOR INFORMATIONAL PURPOSES.THE MATERIALS ARE NOT INTENDED TO CONSTITUTE LEGAL, FINANCIAL, TAX  ADVICE

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