Will the Affordable Care Act Impact Your Tax Return for 2014?
The Affordable Care Act (ACA), also referred to as Obamacare, imposes an individual mandate requiring all non-exempt U.S. Citizens and legal residents to enroll in government-approved health insurance in 2014 or pay… Continue On +
What Can You Trust About Trusts?
Fear can be a very motivational. It’s what causes us to build storm shelters in our basements and rent safety deposit boxes at banks to protect our most precious belongings. Sometimes it… Continue On +
Choice of Entity – Entity Foundation and Basics (Part II of III)
After part I of this topic, we now have a foundation regarding entities. In this section we will talk about the pros and cons and current trends. Generally speaking, one of the… Continue On +
It’s Not too Late to Help Your 2013 Taxes
It’s not too late. You are not alone if 2013 flew by and now you find yourself wondering what are the remaining options. Here are a few 2013 tax moves that can… Continue On +
Choice of Entity – Entity Foundation and Basics (Part 1 of 3)
Whether you are about to purchase a dental practice or you already own one, one of the first things you must do is decide on an entity type. It is very important… Continue On +
Itemized Deductions
The recent mailing of 2013 tax organizers brought to mind a few itemized deductions you may qualify for that can be easily overlooked. Charitable deductions are not limited to only cash contributions.… Continue On +
Selling Your Home
Article Highlights Individuals can exclude up to $250,000 ($500,000 for a married couple filing jointly) of gain from the sale of their primary residence. Generally, to qualify for the exclusion, the home… Continue On +
IRA Distributions to Charity
Older taxpayers who plan to use IRA distributions to make charitable contributions should bear in mind that the favorable tax provision for doing is slated to expire at the end of this… Continue On +
Bonus Depreciation and 179 Deductions Set to Expire
If you have been trying to decide whether or not to buy a new piece of dental equipment or build out a space in your office, now may be the time. Rules… Continue On +
Claiming the Child and Dependent Care Tax Credit
The Child and Dependent Care Credit can help offset some of the costs you pay for the care of your child, a dependent, or disabled spouse. Here are some facts you may… Continue On +
Tax Tips for Newlyweds
This time year is popular for weddings. So if you are a newlywed there are some important issues that need be taken care of—after the honeymoon. Now that you are married, your… Continue On +
Congress Puts Lid On Health Flexible Spending Arrangements
As part of the Patient Protection and Affordable Care Act (new health care law), employee contributions to health flexible spending arrangements (health FSA) are now being limited to a maximum pre-tax contribution… Continue On +