Phone: (714) 538-1040            Email: greg@beck1cpa.com

Tag: American Taxpayer Relief Act


Congrats, you owe the Alternative Minimum Tax

Posted on January 17th, by Big Chief in Blog. Comments Off

We are now solidly into 2014, so it’s time to start thinking about your 2013 tax bill. One big question to be answered is whether you will owe the dreaded alternative minimum tax with your 2013 Form 1040. Congress originally cooked up the alternative minimum tax (AMT) to make sure high-income types who take advantage of multiple tax breaks would still owe something to Uncle Sam each year. These days, however, upper-middle-income folks are the most likely AMT victims. Here’s what you need to know.

AMT basics

Think of the AMT as a separate tax system with a family resemblance to the more-familiar “regular” federal income tax system. The difference is the AMT system taxescertain types of income that are tax-free under the regular tax system and disallows some regular tax deductions. Also, the maximum AMT rate is “only” 28%
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How will you be Affected by New Tax Provisions?

Posted on December 10th, by Big Chief in Blog. Comments Off

Although the American Taxpayer Relief Act (enacted in January of this year) added or extended several key tax provisions and rates, dozens of tax provisions are set to expire at the end of 2013 (though most relate to businesses, if you have a pass through entity you could feel the affect). Here is a list of a few of them (along with brief commentary):



[VIDEO] Gregory W. Beck on Individual Provisions of the 2012 Tax Relief Act (3 of 3)

Posted on July 31st, by Big Chief in Blog. Comments Off

In January 2013 President Obama signed into law the American Taxpayer Relief Act.

Although there were many provision and tax increases, there were also some interesting opportunities. In the third and final installment regarding the 2012 Taxpayer Relief Act, Greg discusses changes to the Alternative Minimum Tax, Estate Tax rules and other provisions to this law.

To schedule a FREE, 30 minute consultation with Gregory W. Beck, CPA, please call (714) 538-1040. 



[VIDEO] Gregory W. Beck on Individual Provisions of the 2012 Tax Relief Act (2 of 3)

Posted on July 3rd, by Big Chief in Blog, Uncategorized. Comments Off

The 2012 Income Tax Act contains several provisions that affect individual tax payers.

In this segment, Gregory W. Beck, CPA explores the changes affecting individual tax rates, the new 39.6% rate, the new limitation on itemized deductions and personal exemptions as well as other provisions.



[VIDEO] Gregory W. Beck, CPA on the 2013 American Taxpayer Relief Act (1 of 3)

Posted on May 10th, by Big Chief in Blog, Uncategorized. Comments Off

In January 2013 President Obama signed into law the American Taxpayer Relief Act.

Although there were many provision and tax increases, there were also some interesting opportunities. In this video, Gregory W. Beck, CPA discusses some of the opportunities in the provisions that relate to business expenses and depreciation. (Click below to watch)

To schedule a FREE, half hour consultation with Gregory W. Beck, please call (714) 583-1040.