Important Tax Dates to Remember for 2013
Important Tax Dates to Remember for 2013 from Gregory W. Beck, CPA MARCH 15, 2013 Today is the deadline for corporate tax returns this means, forms 1120, 1120A, and 1120S. If you do not complete your corporate return today a request for a 6-month extension, form 7004,...
[VIDEO] Gregory W. Beck, CPA on the 2013 American Taxpayer Relief Act (1 of 3)
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...
[VIDEO] Gregory W. Beck on Individual Provisions of the 2012 Tax Relief Act (2 of 3)
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...
[VIDEO] Gregory W. Beck on Individual Provisions of the 2012 Tax Relief Act (3 of 3)
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...
IRS adopts “Simpler Option” to calculate business use of a home (office in the home)
Effective for the tax year 2013 the Internal Revenue Service (IRS) released a simplified option for how to calculate an office in the home or business use or a home deduction. Under this new method: A taxpayer can elect either the simplified method or the actual...
Michael Jackson estate owes $702 million in taxes
A recent article from Reuters found that the estate of pop music legend Michael Jackson owes $702 million in federal taxes and penalties. The main issue is the wide difference between what the estate said Jackson’s legacy was worth versus what the IRS determined was...
Small Business in IRS Sights
Thousands of small-business owners have received letters from the Internal Revenue Service questioning whether they are underreporting their business income, a harbinger of a broader initiative aimed at boosting federal tax receipts and ensuring compliance. The...
Honey, I Shrunk the AMT (But It’s Not Gone)
The tax act Congress passed early on New Year’s Day permanently patched the alternative minimum tax (AMT), sparing tens of millions of Americans from the additional levy. But it won’t protect everyone. The AMT will continue to raise the taxes of a few million...
Same-Sex Married Couples must file before Sept. 16 to File as Single
Same-sex married couples must file before September 16 to file as single (09-13-13) Same-sex married couples who are on extension, but wish to file as single one last time, must file before September 16, 2013. Original returns filed by same-sex married couples on or...
Home Starts Weaker Than Forecast as Fed Keeps QE: Economy
Builders began work on fewer U.S. homes than projected in August, helping explain why Federal Reserve policy makers decided to maintain stimulus aimed at sustaining the economic expansion. Sept. 18 (Bloomberg) — Federal Reserve Chairman Ben S. Bernanke speaks about...