Archives for November 2012

What is the fiscal cliff? From a tax perspective, it is the expiration of more than 50 temporary tax provisions (extenders), the expiration of the Bush 2001/2003 tax cuts, the expiration of the … [Read more...] about Fiscal Cliff Tax Planning

A taxpayer can claim a nonrefundable child and dependent care tax credit if someone is paid by the taxpayer to watch his under-age-13 dependent child or children (who are eligible to be claimed as … [Read more...] about Child Care Tax Considerations

Employees may be surprised to a new item reported on their 2012 W-2s. Beginning with the issuance of 2012 W-2s, the employer is required to report the value of health care coverage … [Read more...] about Form W-2 Reporting of Employer-Sponsored Health Care

If you use your vehicle in pursuit of a trade or business, you may be allowed to deduct the ordinary and necessary expenses incurred while operating the vehicle. However, any expenses associated with … [Read more...] about Vehicle Depreciation and Deductions

The IRS is warning taxpayers about scams that involve websites that mimic the IRS e-Services online registration page. Apparently, taxpayers are being contacted and told to register on the IRS … [Read more...] about IRS WARNS TAXPAYERS ABOUT PHONEY IRS WEBSITES

There are numerous tax law changes to occur beginning January 1, 2013 (assuming that Congress and the White House cannot agree to extend these tax provisions). While the items below are not … [Read more...] about RECENTLY ANNOUNCED 2013 TAX ADJUSTMENTS