New Medicare Taxes for 2013

Two new taxes that may impact taxpayers   Medicare Payroll Tax Increase 1)      Medicare taxes have always been a payroll tax. Half is paid by the employee with the other half paid by the employer. This new 0.9% tax is an additional tax paid by the employee only. Wages above $200,000 … [Read more...]

Standard Deductible Mileage Rates 2013

Deductible Mileage Rates Deductible mileage rates change each year on January 1st. For 2013, the IRS announced the business mileage rate as 56.5 cents per mile and 24 cents per mile for medical miles. The business and medical rates are a one-cent per mile increase from 2012. The charitable miles … [Read more...]

PREPARING TAX DOCUMENTS

    HOW TO PREPARE TAX DOCUMENTS You can make Tax Time easier with an early start. Maximize your deductions with planning and organization. By gathering your records as they arrive, you can make this a simple process allowing you to prepare your returns and receive your refunds … [Read more...]

DEDUCTING JOB SEARCHING EXPENSES

DEDUCTING JOB SEARCHING EXPENSES Many Americans spend both time and money seeking New Employment. These Job Seeking Expenses can be deductible on your annual Income Tax Return. Here are several factors related to Deducting your Job Seeking Costs: 1. To Qualify for a deduction, the expenses … [Read more...]