Clock is Ticking for Retirement Plan Contributions

Did you know that you can make tax-deductible retirement savings contributions after the close of the tax year? Well, you can, and with the April tax deadline looming, the window of opportunity to maximize retirement and other special-purpose plan contributions for 2015 is closing. Many of those contributions not only build the retirement nest egg […]

Which 1040 form is the right one for you?

When Benjamin Franklin said nothing is certain but death and taxes, he managed to name two of the things that people loathe and fear the most. One of the things that makes taxes so unpleasant is obviously the fact that you have to hand over some of your hard-earned money to the government, and the […]

Timing matters: When to claim a disaster loss

With the wildfires and drought in the West and flooding on the East Coast, we have had a number of presidentially declared disaster areas this year. If you were an unlucky victim and suffered a loss as a result of a casualty, you may be able to recoup a portion of that loss through a […]

2015 Cuts in Section 179 Deduction Allowance will Have Negative Impact

The Section 179 depreciation Deduction allows taxpayers to deduct the full purchase price of qualifying financed or leased equipment that was placed into service during the tax year the deduction is taken. In past years, the dollar limitation was set as high as $500,000. In 2015 the allowance had been cut to $25,000. Where before […]

Do you have your chip card yet?

Oct. 1 is the deadline for banks to issue new chip cards to consumers. For those who don’t know what a chip card is (also called a smart card or EMV card) or what the goal is of the switch over, here’s what you need to know. The point of the switch over is to […]