Please go to the link below to see how to download a file from Share File. http://support.citrixonline.com/en_US/sharefile/video/SFV00008
Category: Individual Income Tax
ShareFile Downloading Training Video
January 9th, 2015 by Kim Chen
Congress Extends Many Tax Breaks for Individuals
December 30th, 2014 by Kim Chen
The Tax Increase Prevention Act of 2014, which was signed into law on December 19, renewed through 2014 a long list of personal and business federal income tax breaks that had been allowed to expire at the end of 2013. Because Congress habitually allows these breaks to expire before restoring them for a year or […]
IRA Charitable Rollover Extended; Rollovers This Month Can Still Count For 2014
December 24th, 2014 by Kim Chen
IR-2014-117, Dec. 23, 2014 WASHINGTON — Certain owners of individual retirement arrangements (IRAs) have a limited time to make tax-free transfers to eligible charities and have them count for tax-year 2014, the Internal Revenue Service said today. IRA owners age 70½ or older have until Wednesday, Dec. 31 to make a direct transfer of part […]
Six IRS Tips for Year-End Gifts to Charity
December 17th, 2014 by Kim Chen
IRS Special Edition Tax Tip 2014-23, November 17, 2014 Many people give to charity each year during the holiday season. Remember, if you want to claim a tax deduction for your gifts, you must itemize your deductions. There are several tax rules that you should know about before you give. Here are six tips from […]
IRS Announces 2015 Pension Plan Limitations
December 10th, 2014 by Kim Chen
IR-2014-99, Oct. 23, 2014 WASHINGTON — The Internal Revenue Service today announced 2015 Pension Plan limitations. It is based on cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. Many of the pension plan limitations will change for 2015 because the increase in the cost-of-living index met the […]
Scam Phone Calls Continue; IRS Identifies Five Easy Ways to Spot Suspicious Calls
December 3rd, 2014 by Kim Chen
IR-2014-84, Aug. 28, 2014 WASHINGTON — The Internal Revenue Service issued a consumer alert today providing taxpayers with additional tips to protect themselves from telephone scam artists calling and pretending to be with the IRS. These callers may demand money or may say you have a refund due and try to trick you into sharing […]
Ten Year-End Tax Planning Ideas for Individuals
November 24th, 2014 by Kim Chen
Another year is winding down. Before the hustle and bustle of the holidays sets in, it’s a good time to brainstorm ideas to lower your 2014 tax bill. Here’s an overview of what’s happening in the world of tax — and 10 simple tax-saving strategies that you can implement before year end. Setting the Current […]
Social Security Wage Base for 2015
November 5th, 2014 by Kim Chen
The Social Security Administration (SSA) announced that the maximum earnings subject to the Social Security component of the FICA tax will increase to $118,500 in 2015 from $117,000 in 2014. This means, that for 2015, the maximum Social Security tax that employers and employees will each pay is $7,347 ($118,500 x 6.2%), and a self-employed […]
Be Careful When Saving for Your Kids’ Education
October 31st, 2014 by Kim Chen
Here’s a little-known secret for parents planning to send their children to college in the future: Some of the tax-saving moves you make now could hurt your student’s chances for getting financial aid later. It’s because of the way the financial aid system treats different assets. Retirement plans and IRAs don’t count for college aid […]
Do You Need Long-Term Care Insurance?
October 28th, 2014 by Kim Chen
Some people are worried that they will wind up in a nursing home with their life savings wiped out. But that doesn’t have to be the case. You can buy some peace of mind with long-term care insurance. What’s Covered? Life expectancies have increased significantly and are expected to continue to increase in the future. […]
