Entries Tagged ‘medical expenses’:
filed in IRAs on May.06, 2010
A client called and wanted to talk about tax strategies for the year 2010. Unfortunately, he will incur significant medical expenses not covered by his medical insurance in 2010. We discussed the rule for 2010 that will allow a conversion from a traditional IRA to a Roth IRA.
The client sent estimated income and deductions for [...]
Tags: Arizona tax, Casa Grande Tax, Conversion of IRAs, Deductions, estimated deductions, estimated income, federal tax, IRA, itemized deductions, local tax, medical expenses, projections, Roth IRA, Scottsdale Tax, state tax, tax cost, tax planning software, tax strategies, Tempe Tax, traditional IRA, uninsured medical expenses
filed in Tax Tips on Jan.07, 2010
The holidays are over and as you put away the decorations you uncover an unruly pile of paper accumulated over the past 12-months that you will need for your tax return. “Oh, how I wish I had kept better records all year!” you mutter under your breath. Well, it may not be too late, and [...]
Tags: 1099, Arizona tax, automobile registration, Casa Grande Tax, charitable donations, child care receipts, deductible expenses, deductible tax-deferred investments, Deductions, dividends, expenses, expenses and deductions, federal tax, Form 1099, general accounting office, income, income tax payments, investment fees, IRA Distribution records, IRS, IRS contributions, K-1 forms, local tax, medical expenses, mortgage and investment interest payments, nondeductible investments, organized for tax time, preferential tax treatment, real estate tax payments, retain records, Roth IRA Contributions, Scottsdale Tax, state tax, tax deductions, tax return, tax-deferred investments, taxable investments, taxpayer, Tempe Tax, W-2, wages
filed in Form 1040 on Jan.06, 2010
As a follow up to the previous blog “What’s new on the 2009 1040″, here is a summary of some of the changes to the related forms and schedules that usually get attached to the 1040. Again, I highly recommend you review the Form 1040 & related forms and schedule’s instructions for these and other [...]
Tags: AGI, Arizona tax, business, capital gains, Capital gains and losses, capital losses, Casa Grande Tax, Casualty or theft losses, conservation expenses, debt discharge income, Dental Expenses, depreciation, depreciation and amortization, dividends, excludable interest on series EE or serios i, farming, federal tax, Form 1040, Form 1040 Schedule A, Form 1040 Schedule B, form 1040 Schedule C, Form 1040 Schedule D, Form 1040 Schedule F, Form 4562, Gifts to Charity, income, Interest and ordinary dividends, itemized deductions, local tax, MACRS depreciation, medical expenses, New Motor Vehicle Taxes, profit or loss from business, Profit or Loss from Farming, related forms and schedules, Scottsdale Tax, single-member LLC, special depreciation allowance, Standard mileage rate, state tax, taxpayers, taxpayers standard deduction, Tempe Tax, unreimbursed employee expenses
filed in Tax Tips on Dec.31, 2009
Some people call it a Stealth Tax. CPAs call it AMT. Congress calls it a Revenue Enhancer. The Internal Revenue Code calls it the Alternative Minimum Tax.
Did you know that for individuals there are two tax systems that run parallel to each other? Most people are familiar with the regular income tax system but there [...]
Tags: adjusted gross income, AGI, Alternative Minimum Tax, AMT, Arizona tax, Casa Grande Tax, charitable contributions, Congress, CPA, federal tax, income tax, Internal Revenue Code, itemized deductions, local tax, medical expenses, mini flat tax, mortgage interest, personal exemptions, Revenue Enhancer, Scottsdale Tax, state tax, Stealth Tax, tax credits, tax return, taxpayers, Tempe Tax
filed in Tax Tips on Dec.23, 2009
If you’re going through a divorce, taxes may be the last thing on your mind, so we’re here to help.
If you’re going through a divorce, the last thing you may have on your mind is how the breakup will affect you and your ex-spouse on your next tax return. But whether you’re structuring a property [...]
Tags: Arizona tax, Casa Grande Tax, child credit, child tax credit, child-care credit, custodial parent, dependency exemption, divorce, divorce decree, exemption, exemptions for dependents, federal tax, filing a joint return, filing status, head of household, Hope or Lifetime Learning Credit, joint return, local tax, medical expense deduction, medical expenses, property settlement, Scottsdale Tax, state tax, tax credit, tax planning for divorce, tax return, Tempe Tax, work-related expenses