For those of you that work from home there is some good news for the 2013 tax year. The IRS has rolled out a simplified process for claiming the home office deduction. In years past the deduction hinged on the office’s square footage as a percentage of the total dwelling. The new method allows for […]
Tag Archives: IRS
How the Government Shutdown Affects Your Taxes
11
Oct
As almost everyone has heard by now, the US government has shutdown a majority of it’s operations. While this affects many different agencies, one hit particularly hard was the Internal Revenue Service, who has less than 10% of its 94,000 plus employees working right now. Many are left wondering the ramifications of these developments from […]
Tax Consequences of DOMA Decision
02
Jul
As everyone knows by now, last week the US Supreme Court ruled on the constitutionality of the Defense of Marriage Act (DOMA). In a landmark decision, the Supreme Court struck down DOMA, holding that the Federal government cannot bar States from recognizing same sex marriage. While there were many implications stemming from this decision, one […]
What’s Next After an Extension?
17
Apr
With another April 15th in the books, taxpayers are generally in one of two camps: (1) a tax return has been filed or (2) an extension has been filed. While extensions are great for people looking to buy some extra time in filing (and possibly paying) their taxes, there are some things to keep in […]