In Part I of this series, we covered some of the important tax breaks that expired at the end of 2013. Now we will look at some of the important additions to the tax code in 2014. Unfortunately, not all of these additions are positive. Individual Health Insurance Mandate The tax law change that impacts […]
After the Filing Deadline: Important Tax Changes for 2014 (Part II) Read More »
The April 15 filing deadline has come and gone. Hopefully, you were able to optimize your tax savings in 2013 and thus minimize your tax liability. If you are uncertain about your taxes for 2013, it is not too late to revise your return; speak to a tax professional if you think there may be
After the Filing Deadline: Important Tax Changes for 2014 (Part I) Read More »
Continuing from Part I our series on available tax credits and incentives to locate your business in Arizona, here are five additional opportunities for Arizona-based businesses to lower their tax burdens: Computer Data Center Program: The Grand Canyon State wants to encourage computer data center operations to relocate here. Toward this end, the Arizona Commerce
The state of Arizona is strategically located right next door to the world’s 12th largest economy (California). In recent years, Arizona lawmakers have taken a number of steps to attract businesses from the Golden State that are looking for a better place to conduct operations. By 2017, Arizona will have a corporate tax rate of
In Part I, we looked at the scenarios where you would be exempt from filing an income tax return, as well as some common exceptions to the general rule. Now we will look at some reasons why you probably should file an income a tax return, even if you have the legal right not to
Who is Exempt from Filing an Income Tax Return? (Part II) Read More »
In general, most American adults should file income taxes. However, for those that would rather not go to all the “trouble”, there are some circumstances when you may be legally exempt from doing so. We will take a look at which scenarios make you exempt from filing and whether or not this is a good
Who is Exempt from Filing an Income Tax Return? (Part I) Read More »
In the wake of the Bitcoin craze, the IRS has released some clarifications for its rules surrounding virtual currencies. If you are someone that engages in Bitcoin “mining” or any other form of virtual currency trading, it is important to understand how the federal government views your transactions from a tax standpoint. Virtual Currencies NOT
IRS Clarifies Rules on Virtual Currency Trading Read More »
The April 15 income tax filing deadline seems to come up all too fast. For many Americans, this means a lot of last minute scrambling to get all their paperwork in order and make sure everything is ready to be filed on or before the deadline. However, what if you are not able to file
Filing a Tax Extension: When Does it Make Sense? Read More »
In Part I of this series, we looked at reasons why major retailers and many lawmakers in both parties are in favor of the Marketplace Fairness Act. Now we will examine some of the opposing arguments, as well as the implications of this law on businesses and consumers. Reasons to Oppose the Marketplace Fairness Act:
The Marketplace Fairness Act: How it will affect Retailers and Consumers (Part II) Read More »
In May of 2013, the U.S. Senate passed a bill called The Marketplace Fairness Act of 2013. As of March 2014, this bill is currently under consideration in the House of Representatives and is believed to have a better than 50% chance of passing. If this new law were enacted, it would allow states to
The Marketplace Fairness Act: How it will affect Retailers and Consumers (Part I) Read More »
