Whalen CPAs: Blog
Discover Our Thoughts on Important Accounting Topics.
We understand that constantly changing tax laws can get confusing. That is why we keep our blog updated on tax policies that could affect the life and business of our clients. If you have any questions regarding an article featured on our blog, please contact the experts at Whalen CPAs for more information. Want info delivered right to your inbox – Subscribe Now
For the last several years, taxpayers have been allowed to take an itemized deduction for state and local sales taxes
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While the many revived breaks under the American Taxpayer Relief Act of 2012 (ATRA) are good news for taxpayers, they
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Section 179 expensing allows businesses a 100% deduction for the cost of qualifying asset purchases. Its 2012 benefits were recently
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On Jan. 15, the IRS announced a new simplified home office deduction, which is available beginning with 2013 income tax
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The American Taxpayer Relief Act of 2012 (ATRA) revives for 2012 and 2013 the opportunity to make tax-free IRA distributions
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The IRS has updated income-tax withholding tables for 2013 in light of the American Taxpayer Relief Act of 2012, signed
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On Jan. 2, Congress passed the American Tax Relief Act to address the fiscal cliff. The act makes permanent 2012
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To take a 2012 charitable donation deduction, the gift must be made by Dec. 31, 2012. According to the IRS,
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If you own highly appreciated assets you’ve held long term, it may make sense to recognize gains now rather than
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Business-related purchases of new or used vehicles may be eligible for Section 179 expensing, and business-related purchases of new vehicles
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The 2012 gift tax annual exclusion allows you to give up to $13,000 per recipient tax-free without using up any
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If you’re self-employed, you may be able to set up a retirement plan that allows you to make much larger
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To learn more, Contact Whalen CPAs today.