by Arthur Geffen | Oct 20, 2011 | Income Tax, Tax, Tax Planning, Tax Solutions
WASHINGTON — For tax year 2012, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation, the Internal Revenue Service announced today. By law, the dollar amounts for a variety of tax provisions, affecting virtually...
by Arthur Geffen | Sep 16, 2011 | Estate Tax, Income Tax
Tax publisher CCH put out its estimates of ranges for 2012 tax brackets and projections for inflation-sensitive figures such as the standard deduction and the estate tax exemption, and it’s good news especially for the well-off, even those who die. Here’s what’s...
by Arthur Geffen | Sep 13, 2011 | Deductions, Income Tax
Homeowners who suffered losses from storms such as Hurricane Irene can potentially claim the losses on federal income tax return. The general rule is that casualty losses for your home, household items and vehicles are deductible for federal income tax...
by Arthur Geffen | Aug 16, 2011 | Income Tax
According to Hoovers there are approximately 1.4 million non-profit organizations in the United States. They have a combined annual revenue of over 1 trillion dollars. Aside from their trillion dollar plus annual income, some of the largest...
by Arthur Geffen | Aug 12, 2011 | Income Tax
If you take mortgage interest tax deductions, the next 100 days could have significant financial implications for you, thanks to Congress’s new federal debt ceiling plan. The compromise legislation created an unusual mechanism — an evenly split, 12-member...
by Arthur Geffen | Aug 12, 2011 | Income Tax
All of the Republicans running for president agree: The corporate income tax needs to be sliced. The only point of dispute is how big a cleaver to wield. Mitt Romney would lower the corporate rate from 35 percent to 25 percent. Tim Pawlenty wants it down to 15...
