standard deduction

Various Tax Benefits Increase Due to Inflation Adjustments for 2014

The Internal Revenue Service has announced its 2014 inflation adjustments for various tax provisions, tax rate schedules and other tax changes. Listed below are the 2014 rates for items of the greatest interest to most taxpayers. • The tax rate of … read more

Same-Sex Marriage Recognized for Federal Tax Purposes

The U.S. Department of the Treasury and the Internal Revenue Service ruled on 8/29/13 that same-sex couples legally married in jurisdictions that recognize their marriages will be treated as married for federal tax purposes.  The ruling applies regardless of whether … read more

Planning Tips for Next Year’s Tax Return

You did it!  You survived filing your tax return and the deadline has passed.   Don’t wait until next January to start thinking about your taxes though.  There are many steps you can take now that will help you come next … read more

What’s New on the 2012 Form 1040

IRS has released on its website a number of the final tax forms and instructions for the 2012 tax year, including Form 1040, along with its related schedules. They reflect many administrative and law changes that apply for the 2012 … read more

IRS Announces Annual Inflation Adjustments

Each year, the eagerly anticipated inflation adjustments are released by the IRS.  Included in the annual inflation adjustments for 2013 are the following: • Beginning in tax year 2013 (generally for tax returns filed in 2014), a new tax rate of … read more

Miscellaneous Itemized Deductions – Can You Benefit?

Do you have an expense that seems like it might be tax deductible but you are not quite sure? You may very well have a miscellaneous itemized deduction. Before even looking to see if your expense qualifies, you will need … read more

Your Kids May Help You to Qualify for Tax Benefits

As a mom of two precocious little boys under the age of four, I spend a great deal of time saying things like “please don’t hit your brother” or “please don’t step on your brother” or my favorite “my house … read more

Married Filing Jointly or Married Filing Separately?

Is it more advantageous for married couples to file income tax returns jointly or separately?  Unfortunately, the answer is not as simple as it may sound.  When filing separately, some credits and deductions are not allowed.  These include earned income … read more

Eight Facts about Filing Status

Every year, starting in the spring, millions of Americans begin the process of filing their Income Tax Returns.  During this process everyone must make a decision about what their filing status is.  Believe it or not this decision is actually … read more

2011 Budget Proposals

On February 1, 2010 President Obama submitted his budget proposal to Congress.  The President’s budget proposal contains a number of provisions that will have a material impact on taxpayers, both business and individual.  Among the more significant proposals are the … read more


There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.

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