The start of a new year is a great time to order your Credit Report and one for all of your family members, including children. Federal law allows you to get a free copy of your credit report every 12 months from each of the credit reporting bureaus. It's a great way to ensurethe information… Continue reading Order Your Credit Report
Everyone at Schwartz & Schwartz wishes you a Happy Holiday and Happy New Year!
Make sure to donate clothes and items before Dec. 31. Keep a list, take photos, and get a receipt for what you've donated.
REPOSTED FROM CBSNEWS: http://www.cbsnews.com/news/with-tax-filing-season-near-scammers-are-gearing-up/ By ANNA ROBATON MONEYWATCH December 13, 2016, 5:30 AM With tax-filing season near, scammers are gearing up While many Americans are busy decking the halls, crooks are hard at work hatching new tax-related scams. That’s because scammers (like some eager Americans and tax preparers) are now gearing up for filing season --… Continue reading With Tax-Filing Season Near, Scammers Are Gearing Up
Most years, the government bumps up the maximum Social Security taxes that you can pay. For 2017, the maximum wage base jumps to $127,200, an increase of $8,700, or 7.3%, over the max of $118,500 that was in place for 2015 and 2016. The Social Security Administration predicts that 12 million individuals will end up… Continue reading Social Security Max Jumps to $127,200 for 2017
by Guest Writer Dave Miller of Carr Healthcare Realty A commercial real estate transaction can either catapult or cripple your business. As one the highest expenses of healthcare practices, a real estate negotiation needs to be handled by an expert. One small mistake on a lease or purchase can cost hundreds of thousands of dollars.… Continue reading 5 Things Every Savvy Doctor Knows When Picking a real Estate Agent
According to the IRS, to be deductible, an expenditure must be both "ordinary" and "necessary" in connection with your profession. The IRS defines "ordinary" as common and accepted in a particular profession and "necessary" as helpful and appropriate for a particular profession. Here’s a list of 16 professional expenditures commonly incurred by healthcare professionals: Automobile… Continue reading Deducting Un-Reimbursed Professional Expenses
Here are the major points of Trump's Tax Plan that will impact your personal taxes: Decreased Tax Brackets and Rates: Trump's tax plan calls to reduce the number of tax brackets from the current 7 brackets (10%. 15%, 25%, 33%, 35% & 39.6%) to just 3 brackets as follows: 12% rate for income up to… Continue reading Trump’s Tax Plan
An Identity Protection PIN is a 6-digit number that the IRS assigns to taxpayers each year to help verify your identity and protect against identity theft. If you’ve been a victim of identity theft, you must include this IP PIN to your tax return in order to electronically file. The IRS will be sending a… Continue reading Did You Get an IP Pin from the IRS?
Most working professionals have access to a 401(k) plan or a 403(b) plan at work. Amounts contributed to these plans generally reduce your taxable earnings and always grow tax deferred. Like 2016, you can again contribute up to $18,000 into a 401(k) or 403(b) plan through salary deferrals in 2017. Anyone 50 or older by… Continue reading IRS Announces Few Increases to Retirement Plan Limits for 2017
With the end of the 2016 calendar year quickly approaching, reviewing your specific tax situation may be tax-wise to help reduce your income taxes as well as possible underpayment of tax penalties. Year-end planning techniques to reduce your taxable income or increase your tax saving deductions may be available for you to consider before the… Continue reading Year End Projections Can Reduce Your Taxes
It's not too late to cut your 2016 tax bill. Prior to Dec. 31st: Increase your 401(k) and 403(b) contributions if you haven't been contributing at the maximum rate all year. This year you can put away up to $18,000 ($24,000 if 50 or older) into your 401(k) or 403(b) plan. If you’re self-employed, consider… Continue reading Checklist to Cut Your 2016 Taxes