Medical Tax Deductions

CHANGES TO Itemized Deductions for 2013 Medical Expenses If you itemize your deductions on Form 1040, Schedule A, new rules may affect your medical expense deduction. The new rules raise the threshold that unreimbursed medical and dental expenses you paid for...

Adoption Tax Credit

Adoption Tax Credits Changed for 2013 Maximum Adoption Tax Credit projected to be $12,770 for 2013. Credits will no longer be refundable, but unused part will carry forward to future years. To Get the Credit You Must Have: Domestic and foreign adoptions that have been...

Use Tax Refund to Purchase Savings Bond

Looking to invest your tax refund this year? The Treasury Department wants to make it easy by allowing a new option for your “direct deposit” refund that purchases U.S. Series I Savings Bonds are a low-risk, interest bearing bonds that are purchased at face value, a...

Your Corporate Record Book

You keep your corporate minutes and a record of your key decisions in a corporate record book. Your corporate record book helps the corporation meet state reporting and filing requirements. When did you last read or review your record book? The record book is your...

Corporate Resolutions

To enjoy the benefits of incorporation, the company must observe corporate formalities and properly maintain corporate records and accounts. This often takes the form of corporate resolutions or corporate minutes. Documenting corporate resolutions helps the...

Corporate Annual Meetings for the Small Business Owner

For those of you who have selected to have your business under a corporate or LLC shield, the date to hold your annual meeting is usually stated in your bylaws or operating agreement. Do you realize that your bylaws and operating agreement is really the constitution...

Per Diem Conus Rates

CONUS: is an acronym for the “Continental United Status”. To aid in tax planning and reporting: the United States State Department provides per diem rates for the contiguous 48 states (plus the District of Columbia) for meals, lodging and other travel expenses. These...

Personal Tax Deductions

Many people think that personal tax deductions are Schedule A itemized deductions, but in reality these IRS tax deductions come in a variety of places and ways. But no matter how you look at it, personal tax deductions reduce your taxable income, thus reducing the tax...

Tax Deductions

Tax Deductions are available to help every tax filer. Depending on the deduction they are taken at different points in the tax return. Many tax filers use tax deductions that are called adjustments and reduce taxable income on page 1 of a standard 1040 tax form. In...