Month: November 2014

Smart Year-End Moves to Trim Your 2014 Tax Bill

If you act before New Year’s Day, you can limit what you owe the IRS. This is the time of year when many of us count our blessings, and if you own stocks [...]

Six IRS Tips for Year-End Gifts to Charity

Many people give to charity each year during the holiday season. Remember, if you want to claim a tax deduction for your gifts, you must itemize your [...]

Tax Extenders You Can Count On

Tax extenders, temporary tax provisions that are reinstated by Congress on a regular basis, have been a recurring part of the tax arena for years. Most of the [...]

S Corp. Shareholder Basis and Debt

On July 23, 2014, the IRS issued final regulations (T.D. 9682) addressing the basis of indebtedness of S corporations to their shareholders. These final [...]

Plan Now to Get Full Benefit of Saver’s Credit; Tax Credit Helps Low- and Moderate-Income Workers Save for Retirement

Low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2014 and years ahead, according to the Internal [...]

Understanding 401(k) and profit sharing solutions

Many small business owners are concerned about retirement, both for themselves and for their employees. Often, the issue isn’t whether to implement a [...]

Year-End Tax Planning for Your Securities

This year has been a bumpy ride on Wall Street, with dramatic swings up and down. Now is a good time to review your retirement account and your personal [...]

IRS Simplifies Procedures for Favorable Tax Treatment on Canadian Retirement Plans and Annual Reporting Requirements

The Internal Revenue Service made it easier for taxpayers who hold interests in either of two popular Canadian retirement plans to get favorable U.S. tax [...]

IRS Clarifies Application of One-Per-Year Limit on IRA Rollovers, Allows Owners of Multiple IRAs a Fresh Start in 2015

The Internal Revenue Service issued guidance clarifying the impact a 2014 individual retirement arrangement (IRA) rollover has on the one-per-year limit [...]

IRS fleshes out FAQs on withholding of the additional Medicare tax

IRS has fleshed out two questions and answers (FAQs) relating to the additional Medicare tax. The fleshed out FAQs pertain to withholding errors discovered in [...]