Posts by Tom Vastardis:
6 Overlooked Tax Breaks for Individuals
Confused about which credits and deductions you can claim on your 2013 tax return? You’re not alone. Here are six tax breaks that you won’t want to overlook. 1. State Sales and Income Taxes Thanks to the fiscal cliff deal last January, the sales tax deduction, which originally expired at the end of 2011, was […]
7 Common Small Business Tax Misperceptions
One of the biggest hurdles you’ll face in running your own business is staying on top of your numerous obligations to federal, state, and local tax agencies. Tax codes seem to be in a constant state of flux making the Internal Revenue Code barely understandable to most people. The old legal saying that “ignorance of […]
5 Last Minute Tax Tips for 2013
, CPA Are you one of the millions of Americans who haven’t filed (or even started) your taxes yet? With the April 15th tax filing deadline less than two weeks away, here’s some last minute tax advice for you. Stop Procrastinating. Resist the temptation to put off your taxes until the very last minute. Our […]
Using a Car for Business? Grab These Deductions
Whether you’re self-employed or an employee, if you use a car for business, you get the benefit of tax deductions. There are two choices for claiming deductions: 1. Deduct the actual business-related costs of gas, oil, lubrication, repairs, tires, supplies, parking, tolls, drivers’ salaries, and depreciation. 2. Use the standard mileage deduction in 2012 and […]
8 Ways Children Lower Your Taxes
Kids are expensive, but there's one way that can help save your money. We explain the eight ways children lower your taxes to get you a bigger refund.How to Spot an IRS Impersonation Scheme
Consumers should protect themselves against online identity theft and other scams that increase after the filing season. Such scams may appropriate the name, logo or other appurtenances of the IRS or U.S. Department of the Treasury to mislead taxpayers into believing that the scam is legitimate. Scams involving the impersonation of the IRS usually take […]
Haven’t Filed an Income Tax Return? What to Do
Filing a past due tax return may not be as difficult as you think. Taxpayers should file all tax returns that are due, regardless of whether full payment can be made with the return. Depending on an individual’s circumstances, a taxpayer filing late may qualify for a payment plan. It is important, however, to know […]
Spring Cleaning: Tax Records You Can Throw Away
Spring is a great time to clean out that growing mountain of tax and financial papers that clutters your home and office. Here’s what you need to keep and what you can throw out without fearing the wrath of the IRS. Let’s start with your “safety zone,” the IRS statute of limitations. This limits the […]
Top 8 Ways Children Lower Your Taxes
Five Hidden Reasons You Need a Will
How to Avoid Identity Theft During Tax Season
Consumers should protect themselves against online identity theft and other scams that increase during and linger after the filing season. Such scams may appropriate the name, logo, or other appurtenances of the IRS or U.S. Department of the Treasury to mislead taxpayers into believing the communication is legitimate. Scams involving the impersonation of the IRS […]
Receive a Faster Refund with Direct Deposit
The New Year has arrived, which means . . . it’s tax time! This year, do you want your refund faster? Have it deposited directly into your bank account. More taxpayers are choosing direct deposit as the way to receive their federal tax refunds. More than 61 million people had their tax refunds deposited directly […]
Financial Planning Dos & Don’ts
During these uncertain economic times, financial planning has become a challenge. Here are a few financial planning suggestions that can add to your peace of mind about financial matters and simplify your life: At least once a year, write down your investment goals and what strategy you will use to reach them. This will keep […]
Basic Hints to Help New Small Businesses
Many people are starting their own business in this tough job market. People starting a small business are often challenged by their new tax filing requirements. It can be overwhelming to learn about federal tax responsibilities. I have outlilne a list of basic tips to avoid potential problems and I hope you find it helpful! Classify workers […]
Should You Invest in Life Insurance?
The purpose of life insurance is to provide a source of income, in case of your death, for your children, dependents, or other beneficiaries. Whether you need to buy life insurance depends on whether anyone is depending on your income. If you have a spouse, child, parent, or some other individual who depends on your […]
10 Things You Should Know About Identity Theft
Criminals use many methods to steal personal information from taxpayers. They can use your information to steal your identity and file a tax return in order to receive a refund. Here are ten things the IRS wants you to know about identity theft so you can avoid becoming the victim of a scam artist. Identity […]