Archive for Accounting

In Itemizing Taxes, Extra Effort Earns Savings

In Itemizing Taxes, Extra Effort Earns Savings

  • March 31st, 2015
  • jrhassociates
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Most Americans opt for a standard deduction on their tax return without considering an alternative. Itemizing taxes, however, can offer taxpayers big savings.

Top 10 Most Overlooked Tax Deductions

Top 10 Most Overlooked Tax Deductions

  • March 24th, 2015
  • jrhassociates
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As April 15 approaches, everyone searches for ways to increase tax deductions. Even with a Certified Public Accountant’s services, many taxpayers miss some or all of these most overlooked tax deductions every year. With our Top 10 List, anybody can easily increase the size of their tax return.

Identity Theft Victims Now Safeguarded With Pin Number

Identity Theft Victims Now Safeguarded With Pin Number

  • March 20th, 2015
  • jrhassociates
  • Comments Off on Identity Theft Victims Now Safeguarded With Pin Number

With roughly 10 million annual cases, identity theft ranks as America’s top consumer complaint. As a result, securing personal data is now a big priority for identity theft victims and many other citizens. To ease these concerns, the IRS has responded with a solution: the Identity Protection Pin. What is an…

Small Business Tips for Landscaper Tax Returns

Small Business Tips for Landscaper Tax Returns

  • March 11th, 2015
  • jrhassociates
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With its well-manufactured lawns, Long Island is a hotbed for landscapers. This time of year, the challenge for landscapers is not keeping lawns green but instead maximizing income tax returns. That’s why we’re here to offer small business tips for landscapers to use when filing tax returns.

1st the Chariot, now the Castle: Tax deductions for real estate agents

1st the Chariot, now the Castle: Tax deductions for real estate agents

  • January 27th, 2015
  • jrhassociates
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Besides the stipulations surrounding the old chariot, there are tax deductions for real estate agents that are unique involving the old castle. Similar to tax deductions involving their work vehicle, because of the nature of the business, real estate agents usually optimize their time with a home office. When it…

Deduct the Chariot: Automobile Tax Deductions for Real Estate Agents

Deduct the Chariot: Automobile Tax Deductions for Real Estate Agents

  • January 21st, 2015
  • jrhassociates
  • Comments Off on Deduct the Chariot: Automobile Tax Deductions for Real Estate Agents

When it comes to real estate agents, many will agree that the only ones in the car more than them are NASCAR drivers and truck drivers. Hopping house to house, office to property, the amount of driving for work that real estate agents do is incredible, that’s why automobile tax…

2014 and it’s Personal Exemptions for Parents

2014 and it’s Personal Exemptions for Parents

  • January 6th, 2015
  • jrhassociates
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Taxes… The inevitable siphon of yearly earnings to Uncle Sam. But, if you understand the different features of taxes can hold onto a higher percentage of earnings at tax time, if you prepare. As tax season approaches your window to prepare and save for the 2014 tax season is closing….

5 Tax Saving Tips for the Holidays

5 Tax Saving Tips for the Holidays

  • December 1st, 2014
  • jrhassociates
  • Comments Off on 5 Tax Saving Tips for the Holidays

The holiday season is always a great time of year to be charitable, but you don’t need to send yourself to the poor house in the process. There are many ways to make the most of what you already have, and turn what you don’t need into a charitable donation….

Inheriting an IRA now comes with New Bankruptcy Rules

Inheriting an IRA now comes with New Bankruptcy Rules

  • November 21st, 2014
  • jrhassociates
  • Comments Off on Inheriting an IRA now comes with New Bankruptcy Rules

Are funds received from inheriting an IRA protected during bankruptcy? In a decision made by the Supreme Court, funds from inheriting an IRA are not protected in bankruptcy. This decision came from the case Clark v Rameker. Brief History of the Inherited IRA Case In June of 2014 the court…

Changes in Limitations to Contribute to a Roth IRA

Changes in Limitations to Contribute to a Roth IRA

  • November 5th, 2014
  • jrhassociates
  • Comments Off on Changes in Limitations to Contribute to a Roth IRA

If a married couple files their taxes jointly, and the spouse contributing to an IRA is not covered by a workplace retirement plan, but the other spouse is, the couple’s deduction phase-out is between combined incomes of $183-193K, up from $181-191K. This means that if the couple’s AGI is below…

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