4025 Automation Way #D1 (Map)
Fort Collins, CO 80525
Phone: 970-226-4686
In 2001 when Congress adopted the legislation to allow zero estate tax in 2010, the joke was to hope your loved one passed away in 2010. Well 2010 is here and while it sounds like a good thing to have zero estate tax it can cause complications. When the first spouse passes away most of […]
View Post Estate taxI confess I have never held a job that required I work on Sundays, so I had never really gave much thought to what happens when Daylight Savings Time begins. However I received the following from Marc Kouzmanoff at RIA in one of my daily updates last week. Daylight Saving Time begins this weekend: Spring […]
View Post Employee wages & daylight savings timeI was recently asked how I felt about the new standards for tax preparers. My response was “It’s about time!”. It never ceases to amaze me that someone would actually pay to have their tax return prepared by someone who is not a licensed CPA. As a CPA I had to pass an exam, I […]
View Post CPAs, paid tax preparersDid you know that in 2011 the tax rates will change? Yep, they are on their way up folks. The bottom rate will become 15%, followed by 28%, 31% 36%, with the highest rate being 39.6%. Our highest tax rate is almost 40%! This made me wonder if in the history of American tax rates […]
View Post 2011 tax ratesNow that your W-2’s and 1099’s have all been sent if you are a business or if you are an individual you have received your W-2 and 1099’s, please make an appointment to see your tax accountant. I know that the actual filing of your tax return isn’t for another couple of months, but only […]
View Post tax accountant, tax appointmentI recently had to look some information up for my son who is in the Navy and I thought I would share what I found with you. In general, members of the US Armed Forces (including activated reservists, National Guard & Coast Guard members but not the Merchant Marine) who serve in a combat zone […]
View Post Combat Zone, Military Personnel, tax, tax freeFirst-Time Homebuyer Credit: Questions and Answers, IRS Web Site IRS has posted a number of questions and answers on the first-time homebuyer credit on its web site. They are grouped into four categories: basic information; homes purchased in 2008; homes purchased in 2009; and scenarios. The following is what those Q&As have to say about […]
View Post First time homebuyer credit2009 had a high rate of individuals losing their homes to foreclosure and to make matters worse there are tax ramifications to foreclosure. One would think it was bad enough to lose your home to foreclosure but there is more bad news. Even though you did not sell your home the IRS views the transaction […]
View Post debt forgiveness, foreclosure, short sale, taxAs promised last week a discussion on why someone might choose to pay the entire tax bill in 2010 instead of deferring it to 2011 & 2012. Keep in mind that absent Congressional action, after 2010 the tax brackets above the 15% bracket will revert to their higher pre-2001 levels. That means the top four […]
View Post deferring tax, roth ira, taxGood News! It is finally 2010 and with the new year the limit on adjusted gross income for those individuals wishing to convert their traditional IRA or 401k plan to a Roth IRA has been lifted. No longer are individuals with less than $100,000 in adjusted gross income the only ones allowed to convert. But […]
View Post convert traditional ira, roth ira, tax