Posts Tagged ‘taxes’

In Itemizing Taxes, Extra Effort Earns Savings

In Itemizing Taxes, Extra Effort Earns Savings

  • March 31st, 2015
  • jrhassociates
  • Comments Off on In Itemizing Taxes, Extra Effort Earns Savings

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
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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…

Itemize on Taxes or Use Standard Deductions – Which One Will Save You More Money?

Itemize on Taxes or Use Standard Deductions – Which One Will Save You More Money?

  • February 25th, 2015
  • jrhassociates
  • Comments Off on Itemize on Taxes or Use Standard Deductions – Which One Will Save You More Money?

Deductions are a popular discussion during tax season, and it’s not hard to see why. Everyone loves saving money. Unfortunately, understanding which deductions you qualify for and how to appropriately file for those deductions can be confusing, if you have a limited understanding of taxes and deductions. Still, we don’t…

How to Make Your Mortgage Work for You with Interest Expense Deductions

How to Make Your Mortgage Work for You with Interest Expense Deductions

  • February 20th, 2015
  • jrhassociates
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Nobody likes interest. It’s existed for thousands of years and some of the most powerful figures in our history have had to take out a loan… even a Pope (see Pope Sixtus IV). This may just be conjecture, but we’re guessing they did not particularly enjoy paying those loans back…

Tax Scams – Examining the IRS’s Dirty Dozen

Tax Scams – Examining the IRS’s Dirty Dozen

  • February 6th, 2015
  • jrhassociates
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  The original Dirty Dozen was one of MGM’s biggest moneymakers in the 1960’s. It told the story of twelve morally compromised men who were given a brutal shot at redemption in the bloodiest of wars. That’s Hollywood’s Dirty Dozen. The IRS’s dirty dozen has an equally reprehensible reputation (without…

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…

Foreign Account Tax Compliance Act and Taxes

Foreign Account Tax Compliance Act and Taxes

  • January 2nd, 2015
  • jrhassociates
  • Comments Off on Foreign Account Tax Compliance Act and Taxes

If you are a United States taxpayer with bank accounts or assets abroad you need to know about the Foreign Account Tax Compliance Act to avoid getting in trouble with the IRS. The Foreign Account Tax Compliance Act was enacted in 2010 and is one of the most important developments…

How Donating Appreciated Stock Will Save You Money

How Donating Appreciated Stock Will Save You Money

  • November 10th, 2014
  • jrhassociates
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The holiday season is often a time of giving, both to those we know and love and those who are less fortunate than ourselves. However, when it comes to giving to charity, there are some ways that are more beneficial than others, both for yourself and for the beneficiary, such…

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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