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1040 Extensions Due Oct. 15
Reminder: If you filed a 6-month extension for your 1040/A/EZ, your deadline is next week, October 15, to file your 1040 return.
Posted in Notices, Taxes
Tagged Calendars, Internal Revenue Service, IRS tax forms, October 15, Tax Return
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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 … Continue reading
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 … Continue reading
Posted in Planning, Taxes
Tagged Andrew Schwartz, Internal Revenue Service, IRS tax forms, Itemized deduction, newlyweds, Schwartz & Schwartz, schwartz & schwartz cpas, Social Security Administration, Social Security number, Tax return (United States), tax tips, Tax Withholding, United States Postal Service
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Summer Job Alert for your Working Kids: Claim Exempt
I graduated from Wharton in 1987. For those of you keeping score at home, that means I’ve been working at my practice for a score and a quarter plus one. Now that I’ve been practicing for twenty-six years, many of … Continue reading
First-Time Homebuyer Credit Look-up Tool
From The IRS Tax Tips Mailing: The IRS no longer mails reminder letters to taxpayers who have to repay the First-Time Homebuyer Credit. To help taxpayers who must repay the credit, the IRS website has a user-friendly look-up tool. Here … Continue reading
HOMEOWNERS GET A LITTLE EXTRA CREDIT
Mortgages do provide homeowners with a little credit – Mortgage Interest Credit to be exact. Check out Form 8396, Mortgage Interest Credit. According to the IRS: Mortgage Interest Credit The mortgage interest credit is intended to help lower income individuals … Continue reading
SUPREME COURT UPHOLDS PPACA; TAX INCREASE FOR 2013
On June 28th, the Supreme Court upheld most of the provisions of The Patient Protection and Affordable Care Act. Here are some of the tax increases that might affect you starting in 2013: Increased and Expanded Medicare Taxes High-income taxpayers … Continue reading
HOW LONG DO YOU NEED TO KEEP YOUR TAX RECORDS?
At my firm, we get this question all the time: “How long do I need to keep my tax records?” Here is the IRS answer to this question: Well organized records make it easier to prepare a tax return and … Continue reading
Supreme Court upholds PPACA; Tax Increases in Store for 2013
On June 28th, the Supreme Court upheld most of the provisions of The Patient Protection and Affordable Care Act. Here are some of the tax increases that might affect you starting in 2013: Increased and Expanded Medicare Taxes High-income taxpayers … Continue reading
Posted in Taxes
Tagged Adjusted gross income, AGI, Andrew Schwartz, Flexible spending account, FSA, Health savings account, IRS tax forms, Medicare, Schwartz & Schwartz, Tax
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Schwartz and Schwartz, CPAs News 
NEW YEAR’S RESOLUTIONS – PT 1
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 … Continue reading →