Ahwatukee Foothills News: Tax Talk

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Tax Talk

Monday 04/11/2016
Tax Saver: Last-minute tax tips for 2015
Posted: April 11, 2016

Although Dec. 31 has come and gone it is not too late to take advantage of deductions that could help reduce your taxes. One potential deduction is contributing to a qualified retirement plan. You may be surprised to learn that you are still able to receive a tax deduction for 2015 for contributions made in 2016. An IRA is the most common option, but potentially there are other more powerful options.  

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Tuesday 03/31/2015
IRS offers plenty of payment options
Updated: October 01, 2015 - 1:25 pm

The IRS today reminded taxpayers that it’s easier than ever to pay their taxes electronically, and for those who can’t pay on time, quick and easy solutions are available.

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Tuesday 03/17/2015
Miller: Are you taking advantage of 2014 tax deductions?
Updated: August 04, 2015 - 12:51 pm

Once again, Congress waited until the 11th hour to pass a much-anticipated tax extenders package. This year’s legislation, called the Tax Increase Prevention Act of 2014, extends certain tax deductions and provisions which expired at the end of 2013.

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Tuesday 02/03/2015
IRS tips about free tax prep
Updated: October 01, 2015 - 1:25 pm

Each year, millions of people have their taxes prepared for free. The IRS’s Volunteer Income Tax Assistance (VITA) or and Tax Counseling for the Elderly (TCE) programs have helped people for more than 40 years.

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Monday 01/26/2015
Report name change before you file taxes
Updated: October 01, 2015 - 1:25 pm

Did you change your name last year? Did your dependent have a name change? If the answer to either question is yes, be sure to notify the Social Security Administration before you file your tax return with the IRS.

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Tuesday 01/20/2015
File your taxes before the fraudsters do
Updated: July 09, 2015 - 1:30 pm

Today marks the start of the current tax filing season. So, before you procrastinate about gathering your records to get your return done, here’s a very important reason to help you get motivated. Tax fraudsters and identity thieves may very well beat you to it.

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Wednesday 07/06/2011
Taking control over your retirement accounts
Updated: September 24, 2013 - 6:56 am

Self-directed IRA/401(k)s let you be in charge of your retirement investing. The law permits funds to be invested in any asset except for insurance or collectibles.

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Thursday 06/23/2011
Convert accounts receivable into tax-free income
Updated: September 24, 2013 - 6:56 am

Did you know there is a way to convert your business accounts receivable received from selling tangible personal products into your 401(k) as an investment while reducing your business taxes and receiving tax-free income all at the same time? This is a little-known tax strategy that is permitted by the pension rules but not promoted by banks, insurance companies or investment firms (there is no product for them to sell).

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