Archive for September, 2012

Unreimbursed Employee Expenses

September 24th, 2012 No comments

If you are an employee and incur work-related expenses on behalf of your employer, and such expenses are not reimbursed by your employer, you may be able to deduct those unreimbursed employee expenses if you itemize your deductions on Schedule A of Form 1040. You may be required to attach Form 2106 or 2106-EZ to your return. These job expenses are deductible Read more…


Identity Theft

September 17th, 2012 No comments

The IRS has identified identify (ID) theft as one of the biggest challenges facing it today. If you go to and type in “identify theft” in the IRS search engine, there is much useful information provided. However, are you aware Read more…


Rental Real Estate Tax Planning

September 10th, 2012 1 comment

Rental real estate offers tremendous tax advantages and opportunity for tax planning. Taxpayers can deduct interest on borrowed capital, exchange rather than sell properties to defer tax on gains, use installment sales to defer tax on sales, and profit from preferential rates on long-term capital gains. Most importantly, you may be able to Read more…



September 4th, 2012 No comments

Employers who have been remitting its employees’ local earned income tax (EIT) withholdings and  individual taxpayers who make their estimated quarterly income tax payments or file their annual local earned income tax return with the Central Tax Bureau of Pennsylvania (Centax) need to know that Read more…

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