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…

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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 Once age requirements are met, earnings on already taxed dollars are withdrawn tax-free.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…

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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…

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2010 Tax Act: Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 Here are highlights of the tax changes in the 2010 Tax Act: – Major Provisions two-year extension of the Bush tax cuts reduction of estate tax extension of unemployment benefits alternative minimum tax (AMT) patch extension through 2012 of the lower capital gains…

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