Filing your taxes isn’t just a once-a-year endeavor. Maintaining good records throughout the year and disposing of old ones when appropriate, not only provides you with greater confidence when you prepare your tax return, but it also provides you with documentation you may need down the road. Lucky number six. One of the most common Read More
Dear Client, Beginning in 2013, a new tax, the “net investment income tax,” or NIIT, applies at a rate of 3.8% of the “net investment income” of individuals, estates, and trusts with income above certain statutory amounts. For individuals, the threshold amounts are: • $200,000 for single taxpayers and heads of household; • $250,000 for Read More
Please Call Us at 801-676-0945, and Schedule Your Appointment Today! We are READY for TAX SEASON… Are You Ready Too? Please Don’t Hesitate to call and get your appointment set up, even before January 30th if you’re ready too. The IRS is experiencing some delays in their ability to process returns, but we Read More
Dear Client, In addition to permanently extending the Bush-era tax cuts for most taxpayers, revising tax rates on ordinary and capital gain income for high-income individuals, modifying the estate tax, providing permanent relief from the AMT, and imposing limits on the deductions and exemptions of high-income individuals, the recently enacted 2012 American Taxpayer Relief Act Read More
Dear Client, I am writing to provide details regarding key provisions in the recently enacted 2012 American Taxpayer Relief Act which provide permanent relief to individual taxpayers from the alternative minimum tax, or AMT. Earlier temporary measures to deal with the unintended creep of the AMT’s reach expired at the end of 2011, meaning that Read More