Sharon Sledzik
MID-YEAR TAX PLANNING–NOT A BAD IDEA
So we are half way through 2011, and it is a good time to check if you are on track tax wise. Are your withholdings too high or too low? Can you contribute more to your retirement plan or to a needy charity? Should you reposition your investments and take advantage of low capital gain rates [...]
Three Strikes & You’re Out?!
The IRS has now revoked the tax-exempt status of approximately 275,000 organizations for failure to file required forms for the past three years. Since the Pension Protection Act of 2006 required an annual filing for all tax-exempt organizations, the IRS has been trying to get the message out. Last year the campaign urged organizations that [...]
Repeal of Expanded 1099 Requirements
Well it seemed to take forever, but Congress finally acquiesced and repealed changes to information reporting on Form 1099. There were two different legislative changes to extend reporting of payments made to companies and individuals. These changes were to “create” revenue supposedly by making people more honest. First, in March 2010, the Patient Protection & [...]
What’s new for 2010 Individual Tax Returns?
First of all the tax deadline is NOT April 15! Because of Emancipation Day, a legal holiday in Washington, D.C., the IRS has moved the tax deadline to Monday, April 18. The Ohio Department of Taxation will go along with the Feds. So we all have a few extra days to file our individual federal [...]
Certainty in the tax world?
After the late passage of the 2010 Tax Act which postpones tax cuts and reinstates certain tax provisions, can we say our tax future is any clearer? Thankfully, Congress made these changes effective for the next TWO years and not just for one. However, the changes are still not permanent and are subject to change. [...]
