If your home, vehicle, or other personal property is damaged or destroyed by a sudden, unexpected casualty, an itemized tax deduction may help ease the financial burden. Fire, flood, tornado. Violent weather can wreak emotional and financial havoc. If your home, vehicle, or other personal property is […]
Read more →With the massive tax changes made at the beginning of 2013, it is hard to believe that many tax laws are still set to expire at the end of the year unless Congress acts. As the year winds down, now is a good time to review some […]
Read more →The health care reform law passed in 2010 included a provision that would require employers of 50 or more full-time employees to provide affordable health insurance to their workers or face steep penalties. That provision was scheduled to take effect January 1, 2014. The Treasury Department has […]
Read more →The Affordable Care Act (ACA) has led to plenty of confusion. Below is a recent announcement by the U.S. Department of Labor, as referenced on the Small Business Administration Blog. The ACA requires employers to provide their workers with a notice […]
Read more →Do you work from home? If so, you may be familiar with the home office deduction, available for taxpayers who use their home for business. Beginning this year, there is a new, simpler option to figure the business use of your home. This simplified option does […]
Read more →The White House postponed the start date of the employer mandate to January 1, 2015. This one-year delay will give employers with 50-or-more full-time equivalent employees time to wade through the thousands of pages of regulations issued to date. A few points to remember on the […]
Read more →On July 12, 2013 the Social Security Administration announced it is taking claims from individuals who believe they may be eligible for Social Security benefits. The announcement followed the Supreme Court decision in Windsor v. United States, declaring section 3 of the federal Defense of Marriage Act (DOMA) unconstitutional. […]
Read more →Do you plan to travel while doing charity work this summer? Some travel expenses may help lower your taxes if you itemize deductions when you file next year. Here are five tax tips the IRS wants you to know about travel while serving a charity. 1. You must […]
Read more →As you know from our previous blog posts, Lefstein-Suchoff CPA & Associates makes it a priority to keep you informed and up to date on all tax changes. As a result of the U.S. Supreme Court’s decision, there may be significant tax changes. The U.S. Supreme Court’s […]
Read more →The IRS and the Treasury Department are getting increasingly interested in U.S. citizens who maintain foreign bank, savings, and investment accounts. If you have any foreign investments, there’s an approaching reporting requirement that you should be aware of. You are required to file “Treasury Department Form 90-22.1,” […]
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