tax benefits
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
Tax Credits to Help Make Health Insurance More Affordable
On May 18, 2012 the Treasury Department issued final regulations implementing the premium tax credit to give middle-class Americans tax benefits to make the purchase of health insurance affordable. Starting in 2014, Americans receive help to purchase private health coverage … read more
Automatic Enrollment 401(k) Plans
About half the workforce does not have a retirement savings plan and fewer than 10 percent of those without plans at work contribute to a plan on their own. That makes the idea of an automatic enrollment 401(k) plan very … read more
Substantiating Noncash Charitable Contributions
Charitable contributions can yield great tax benefits, but taxpayers need to have the proper documentation for them to have the deductions hold up in the face of an audit. Cash contributions are relatively simple to substantiate. The taxpayer just needs … read more
Expanded Tax Benefit to Health Professionals Working in Under-served Areas
The IRS has announced that under the Affordable Care Act, health care professionals who received student loan relief under state programs that reward those who work in under-served communities may qualify for refunds on their 2009 federal income tax returns … read more
2010 Year End Tax Planning Ideas
In today’s turbulent economic environment, who wouldn’t want to pay a little less in taxes? There are a few simple tax planning strategies that can be put in place before 2010 comes to a close that can help reduce one’s … read more
Cruise Ship Conventions – The Best of Both Worlds Part II
In Part I of the discussion of Cruise Ship Conventions, we discussed the tax benefits to attendees at a convention held on a cruise liner. But what about the employer? Are there benefits for them too?? Well according to CruiseAlaska … read more
Tax Benefits for Job Seekers
With the recent surprising drop in the U.S. unemployment rate, now may be the time for you to polish up your resume and begin looking for a new job! But wait, there’s more good news. You may also be able … read more
Section 529 Plans
Since my nieces have a household of toys and their mother dresses them differently than I would, I generally write checks for Christmas and birthday gifts. This year, I am going to begin funding 529 plans for the girls. A … read more