by Arthur Geffen | Feb 16, 2016 | Income Tax
There are certainly a lot of tax breaks that benefit lower-income individuals, such as the earned income tax credit, retirement savings contributions credit, and the various education deductions and credits. However, there are also several tax breaks that favor...
by Arthur Geffen | Jan 12, 2016 | Income Tax
Have you hugged your tax lawyer today? The next Powerball drawing is worth an estimated $1.4 billion (it may be even higher by the time you read this), and the odds are good that there will be a winner this time. If there’s only one, we will have a new member of the...
by Arthur Geffen | Jan 8, 2016 | Income Tax, Misc
The 400 Americans who earned the biggest incomes in 2013 paid the highest tax rate in 16 years — but they also saw their incomes drop. To be in the top 400 club in 2013, the latest period of IRS data that’s available, you needed to earn at least...
by Arthur Geffen | Dec 21, 2015 | Income Tax
The IRS will begin accepting individual electronic returns that day. The IRS expects to receive more than 150 million individual returns in 2016, with more than four out of five being prepared using tax return preparation software and e-filed. The IRS will begin...
by Arthur Geffen | Dec 8, 2015 | Income Tax
Check the link below for information Tax time is nearly upon us again, and 2016 will bring some tax changes you need to know about. By learning about them before the New Year, you’ll be better able to take steps that will leave you prepared both this year and...
by Arthur Geffen | Nov 24, 2015 | Income Tax
The Internal Revenue Service today simplified the paperwork and recordkeeping requirements for small businesses by raising from $500 to $2,500 the safe harbor threshold for deducting certain capital items. The change affects businesses that do not maintain an...
