Year-end tax planning – Now is the time to plan!

Year-end tax planning – Now is the time to plan! After December 31st, there are very few options taxpayers have in reducing their 2014 tax liability.  As of January 1st, 2015, taxpayers are pretty much limited to making contributions to their IRA and HSA accounts.  Your tax person ends of just being a preparer rather.. read more →

If I Sell My Home- Do I Pay Taxes?

With the increase of property values, many people are wondering about the capital gains implications of selling a home. Detailed below is information that you will find helpful for your main residence, a second home, and a rental property. Selling your main home for more than you paid generally does not result in a taxable.. read more →

Records Retention

How long should I keep my tax related documents? That is a common question many taxpayers ask. You should keep tax records for as long as the IRS has the ability to audit your return and/or impose additional taxes, which generally is three years after you file your return. This means you likely can shred.. read more →

Tax Update

As you are gathering information for your 2013 tax return, remember that we don’t need all of your information to get a good start on your return. If you are waiting for just a few items, please send in your information now- the earlier the better! We can add the missing pieces later. Not only.. read more →

Should You Be a Do-It-Yourself Tax Preparer?

When my husband was between jobs he decided that it would be a good idea to seal the driveway himself instead of hiring professionals to do it.  The driveway looks great, but it was not worth the time, hassle and uncertainty that went into the job.  The professionals may have been able to come up.. read more →

Preparing for Tax Season

As you are gathering information for your 2012 tax return remember that we don’t need all of your information to get a good start on your return. If you are waiting for just a few items, please send in your information now – the earlier the better. We can add the missing pieces later. Not.. read more →

Get Your Taxes Ready for All Star to File

As you are gathering information for your 2011 tax return remember that we don’t need all of your information to get a good start on your return. If you are waiting for just a few items, please send in your information now. We can add the missing pieces later. Not only will your return be.. read more →

Minimizing Taxes

As the year comes to a close, we are just finishing up with some year-end tax harvesting for our taxable accounts. If we can lock in losses to counter our gains it will help minimize the tax burden this year for you. We do this without being out of the market by swapping your existing.. read more →

Tax Relief…2010

The recently enacted “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” is a sweeping tax package that includes, among many other items, an extension of the Bush-era tax cuts for two years, estate tax relief, a two-year “patch” of the alternative minimum tax (AMT), a two-percentage-point cut in employee-paid payroll taxes and.. read more →

Tax Time!

As we are in the midst of tax filing season, we would like to take this opportunity to remind you that part of the Wealth Management we provide for our clients includes tax preparation services. Many of our clients are taking advantage of this very convenient, value-added service. Tax preparation is a significant part of.. read more →