Posts by elitecpas
Two words that can change your child’s inheritance
Knowing a little Latin can save you a lot of money. In this case, a little Latin in not a short resident of Greece, but an important legal term that you may see in your will. The term per stirpes, along with its legal cousin, per capita, refers to how an estate is passed along…
Read MoreDoing business away from your home state? Here’s a handy tool for all 50 states,
Did you ever wish that when you do business in another state, you could quickly check the forms, filing requirements, etc. for that state with one click? The tool below should be just what you need. Using the scroll bars, find the state you wish to check and then click on it. You’ll be linked…
Read MoreIRS to Washington – Get your act together or no returns processed until March
You have to admire one thing about acting IRS Director Steve Miller. As the head of IRS, he warned Congress that certain tax returns will not be processed until March of 2013. Why make this threat? Because twice in the past when the AMT patch has expired, it has been reinstated retroactively. The IRS made…
Read MoreSmall business dodges an IRS bullet
It might be more appropriate to say that we small business owners dodged a boomerang because this issue is coming back in 2014. Our regular readers know that we sent a red alert out a few weeks ago about the most harmful tax regs that we’ve seen in a long time. You can refresh your…
Read MoreWill your Key Data survive a disaster?
By Guest Editor Rick Viall rviall@viallins.com A good friend of mine who is a claims adjuster is seeing it over and over. People have lost their business data in hurricane Sandy. Even if they can dry out their place of business and get restocked they will not be able to file a tax return and…
Read MoreThe fiscal cliff effect by age groups
Whether you are single, married, working your way through college, or settled in your career. This infographic from today’s Wall Street Journal shows the financial loss you’ll feel in 2013. Begin your tax planning now to avoid a painful new year. Be aware that these are averages. Your tax effect may be larger. [Be sure to click…
Read MoreLike what you see? Here’s how you can QR a friend.
If you’re seeing this, you already know how to reach our web site with its many free services. If you like what you’ve seen then forward this link to a friend who likes to save on taxes. Your friends can click the picture (for an enlarged view) and then scan the QR code to sign…
Read MoreThe new way to buy car insurance in 2013
5 Years to write off a $100 thumb drive? We’re not kidding on this one.
Now is the time to “repair” the deduction for repairs! You’ll have a hard time believing this one, but here are the facts. We’ve sent our business clients the following letter to help them understand the problem they face for 2012 taxes. To all business property owners: I am told the 2010 US Census reports…
Read MoreFor advanced clients only
For our clients who have advanced knowledge of the dangers starting January 1 (to join this group, Click Here and read the section of fiscal cliff articles) we offer a “Cliff Notes” version of the individual effects of the fiscal cliff. You can access this summary graphic by clicking this link. Remember there’s still plenty…
Read More