31
Jan

Who must file a 2013 income tax return?

The rules for filing 2013 tax returns are straightforward for most people. Marital status, age, and income level are generally the determining factors. Here’s a quick overview of the income levels at which a 2013 return is required. *Single individual…..$10,000 *Single individual, 65 or older…..$11,500 *Married individual, separate return, regardless...
21
Feb

Home office recordkeeping simplified

Tax Tip for 2013…The IRS is reducing the record keeping required for the home-office deduction, effective for 2013. Taxpayers who qualify may use a new optional deduction calculated at $5 a square foot for up to 300 square feet of an area in a home that is used regularly and...
5
Jul

Obama Care…Small business tax credit (Sec. 45R)

Small businesses—defined as businesses with 25 or fewer employees and average annual wages of $50,000 or less—would be eligible for a credit of up to 50% of nonelective contributions the business makes on behalf of their employees for insurance premiums. (Effective 2010.)