Category Archives: Small Business And Personal Taxes

What Investment Expenses are Deductible?

Whether you’re a stock market bull or bear, you have investment expenses – and you may be wondering if they’re deductible on your federal income tax return. Here’s a quick review. What are investment expenses? Investment expenses are amounts you pay to produce or collect taxable income, or to manage, conserve, or maintain your investments.Continue Reading

Foreign Bank, Savings, and Investment Accounts

The IRS and the Treasury Department are getting increasingly interested in U.S. citizens who maintain foreign bank, savings, and investment accounts. If you have any foreign investments, there’s an approaching reporting requirement that you should be aware of. You are required to file “Treasury Department Form 90-22.1,” the “Report of Foreign Bank and Financial Accounts,”Continue Reading

Non Profits And Taxes

Nonprofit organizations are required to file annual reports with the IRS. Those with gross receipts below $50,000 can file an E-postcard rather than a longer version of Form 990. The deadline for nonprofit filings is the 15th day of the fifth month after their year-end. For calendar-year organizations, the filing deadline for 2012 reports isContinue Reading

April 15 Tax Deadline

April 15, 2013, is a major tax day, with the following IRS deadlines falling on that date: – Individual income tax returns for 2012 are due. – 2012 partnership returns are due. – 2012 annual gift tax returns are due. – Deadline for making 2012 IRA contributions. First installment of 2013 individual estimated tax isContinue Reading