Tax Savings and Planning Strategies Newsletter Q4 2013
Learn more about year-end tax planning strategies that can save you money going into the new year. Whether you are an investor, business owner, or individual, tax planning can help you to keep more money in your pocket. We are available to answer any questions that you may have and to help you make the right financial decisions for your family and for your business. Call us at 410-749-1919 to schedule an appointment.
This newsletter is full of ideas and suggestions that can help […]
Tax Savings and Business Strategies Newsletter Q3 2013
This newsletter contains information on:
New In-Plan Conversions
Tax-Free Gains from Home Sales
Diversify 529 Accounts
Maximizing Medical Deductions
Using the Work Opportunity Tax Credit
This CPA Client Tax Letter is provided by TRS CPA Group, P.A. to its clients through an arrangement with the AICPA, which holds the copyright to the CPA Client Tax Letter and reserves all rights. Permission is required for any further redistribution or reuse of this content. Please direct any such inquiries to firstname.lastname@example.org […]
About Time to Consider Switching Your IRA to a Roth IRA
For more than a decade, Roth IRA accounts have been one of the best tax breaks available. Once age requirements are met, earnings on already taxed dollars are withdrawn tax-free.
Changes in 2010
Through 2009, adjusted gross income could not exceed $100,000 (single or married) to qualify for a conversion of a traditional IRA account to a Roth IRA. Now, in 2010, a new opportunity arises as income limits on Roth IRA conversions are permanently repealed. As an added bonus, the tax bill […]
Small Business Jobs Act of 2010
Here are highlights of the tax changes in the 2010 Small Business Act.
– Depreciation Expensing Limits Increased
Increased Section 179 expensing from $250,000 to $500,000 for 2010 and 2011; phaseout of deduction begins after $2 million of eligible property purchased
Up to $250,000 of qualified real property purchases can be expensed
Bonus first-year depreciation (50%) extends through 2010
First year dollar cap for passenger autos increased from $3,060 to $11,060.
– Deduction for startup expenses increased […]