by Arthur Geffen | Apr 23, 2014 | Income Tax
Most people stop thinking about taxes after they file their tax return. But there’s no better time to start tax planning than right now. And it’s never too early to set up a smart recordkeeping system. Here are six IRS tips to help you start to plan for this year’s...
by Arthur Geffen | Mar 7, 2014 | Deductions, Income Tax
WASHINGTON — The Internal Revenue Service today reminded people with home-based businesses that this year for the first time they can choose a new simplified option for claiming the deduction for business use of a home. In tax year 2011, the most recent year for which...
by Arthur Geffen | Mar 5, 2014 | Income Tax
Bartering is the trading of one product or service for another. Often there is no exchange of cash. Small businesses sometimes barter to get products or services they need. For example, a plumber might trade plumbing work with a dentist for dental services. If you...
by Arthur Geffen | Nov 11, 2013 | Income Tax
A bipartisan bill introduced in the Senate on November 5 that would simplify and standardize state income tax collection for employees who travel across state lines for temporary work assignments has received support from more than 250 organizations and...
by Arthur Geffen | Oct 23, 2013 | Income Tax
Marginal tax rates are the percentage of an additional dollar of income that is paid in taxes or given up in government benefits; those rates affect taxpayers’ choices about many things, including how much to work and save. In 2013, 37 percent of low- and...
by Arthur Geffen | Oct 3, 2013 | Income Tax, IRS
Dear Federal Income Tax, I wanted to send you this note on your 100th birthday. My, how big you’ve grown! It was on this day a century ago that President Woodrow Wilson signed a law allowing the federal government to collect income taxes on all citizens. So...
