You want to retire, and you own a large home that is nearly or fully paid off. The kids are gone, but the upkeep costs haven’t fallen. Should you retire and keep your home? Or sell your home and retire? Maybe it’s time to downsize.
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Should you downsize for retirement?
Posted in Estate Planning, Personal Taxes
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HIRE signed into law
On March 18, 2010, President Obama signed into law the Hiring Incentives to Restore Employment Act (HIRE). Here’s the basics: Continue reading
Posted in Business Accounting, Business Taxes
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March is Here!
Wow! Is February already gone?! It feels like we just got started. The thing I love most about tax season is seeing my favorite clients. At the end of a day full of appointments I am exhausted. Not because it was so hard… But TRULY because it was so enjoyable catching up on life and activities. It’s amazing what people do in a year!
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Preparing for Your Annual Audit
It’s that time of year again. We’ve come to do the audit, and as much preparation as you’ve put into it, it just seems like there is something that was overlooked. There was the invoice that wasn’t properly approved, or the voided check that got lost. Maybe it was just that you didn’t remember that a employee left at the beginning of the year, and as a result salary expense is considerably lower than the year before. Continue reading
Posted in Audits, Business Accounting, Business Taxes
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Congress gives itemizers a tax break on help for Haiti earthquake relief
2010 donations made in Jan. and Feb. can be deducted on 2009 returns if donors prefer. Eligible contributions can be made in cash or by check, credit card or cell phone text message. A copy of the cellular bill showing the donee’s name, the date of the gift and the amount will suffice to substantiate the contribution. Donations must be made to U.S. charities. Nonitemizers won’t benefit from this rule.
Posted in Business Taxes, Personal Taxes
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