Year End Planning Tip

During December, you should evaluate whether you'll save any taxes by postponing 2013 income or deductions into 2014 or by accelerating 2014 income or deductions into 2013.  While many factors should be evaluated prior to making your final decision, a few items to keep in mind are as follows: For 2013, a single person will… Continue reading Year End Planning Tip


Checklist to Cut your 2013 Tax Bill

It's not too late to cut your 2013 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 $17,500 ($23,000 if 50 or older) into your 401(k) or 403(b) plan.  If you’re self-employed, consider… Continue reading Checklist to Cut your 2013 Tax Bill


Renting Your Vacation Home?

A vacation home can be a house, apartment, condominium, mobile home or boat. If you own a vacation home that you rent to others, you generally must report the rental income on your federal income tax return. But you may not have to report that income if the rental period is short. In most cases,… Continue reading Renting Your Vacation Home?

Charity, Planning, Taxes, Uncategorized

Tips for Taxpayers Who Travel for Charity Work

From IRS Tax Tips Newsletter: Do you plan to travel while doing charity work this summer? Some travel expenses may help lower your taxes if you itemize deductions when you file next year. Here are five tax tips the IRS wants you to know about travel while serving a charity. 1. You must volunteer to work… Continue reading Tips for Taxpayers Who Travel for Charity Work

Planning, Taxes

Tax Tips for Newlyweds

From IRS Tax Tips: Late spring and early summer are popular times for weddings. Whatever the season, a change in your marital status can affect your taxes.  Here are several tips from the IRS for newlyweds. It’s important that the names and Social Security numbers that you put on your tax return match your Social Security… Continue reading Tax Tips for Newlyweds



By Michael Bohigian, EA In part 1 of this series, we looked at the income side of the American Taxpayer Relief Act of 2012.  We'll wrap up with Deductions and some tax-savings tips. What’s Being Deducted From Your Deductions Please, No Pease! At first blush, you may be inclined to utter this lament when learning… Continue reading THE NEW AMERICAN TAXPAYER RELIEF ACT – PART 2

Commentary, Miscellaneous, Savings


There might be a lot of uncertainty surrounding the tax rules these days. Don't use that uncertainty as an excuse to avoid trying to improve your personal finances. What better time to make some resolutions for 2013 than New Year's Day? Last January 1st, did you make any resolutions concerning your personal finances? If so,… Continue reading NEW YEAR’S RESOLUTIONS – PT 1

IRS, Planning, Taxes

IRS: Job Search Expenses Can Be Tax Deductible

Many healthcare professionals work based on the Academic Calendar. That means that a lot of Doctors switch jobs over the summer. According to our friends at the IRS in their IRS Summertime Tax Tip 2012-06: Summertime is the season that often leads to major life decisions, such as buying a home, moving or a job… Continue reading IRS: Job Search Expenses Can Be Tax Deductible