Category Archives: General

IRS Offers Tax Tips for Taxpayers with Foreign Income

Posted on March 19, 2012 by Camron Hoorfar

The Internal Revenue Service reminds U.S. citizens and resident aliens, including those with dual citizenship who have lived or worked abroad during all or part of 2011, that they may have a U.S. tax liability and a filing requirement in … Continue reading →

Posted in General | Tagged , , | Leave a comment

Tax Rules May Affect Your Child’s Investment Income

Posted on March 16, 2012 by Camron Hoorfar

Parents may not realize that there are tax rules that may affect their child’s investment income. The IRS offers the following four facts to help parents determine whether their child’s investment income will be taxed at the parents’ rate or … Continue reading →

Posted in General | Tagged , , , | Leave a comment

Six Tips for Reducing Tax-Time Stress

Posted on March 15, 2012 by Camron Hoorfar

Tax preparation doesn’t need to give you a headache. There are several ways to make it easier on yourself. The IRS offers six tips to help make your tax-filing experience a breeze this year. 1. Don’t procrastinate. Resist the temptation … Continue reading →

Posted in General | Tagged , , | Leave a comment

Six Facts About the Alternative Minimum Tax

Posted on March 12, 2012 by Camron Hoorfar

The Alternative Minimum Tax attempts to ensure that anyone who benefits from certain tax advantages pays at least a minimum amount of tax. The AMT provides an alternative set of rules for calculating your income tax. In general, these rules … Continue reading →

Posted in General | Tagged , | Leave a comment

Ten Tips on a Tax Credit for Child and Dependent Care Expenses

Posted on March 9, 2012 by Camron Hoorfar

If you paid someone to care for your child, spouse, or dependent last year, you may qualify to claim the Child and Dependent Care Credit when you file your federal income tax return. Below are 10 things the IRS wants … Continue reading →

Posted in General | Leave a comment

What Employers Need to Know About Claiming the Small Business Health Care Tax Credit

Posted on March 7, 2012 by Camron Hoorfar

If you are a small employer with fewer than 25 full-time equivalent employees that earn an average wage of less than $50,000 a year and you pay at least half of employee health insurance premiums…then there is a tax credit … Continue reading →

Posted in General | Tagged , , | Leave a comment

Six Facts for Adoptive Parents

Posted on March 5, 2012 by Camron Hoorfar

If you paid expenses to adopt an eligible child in 2011, you may be able to claim a tax credit of up to $13,360. Here are six things the IRS wants you to know about the expanded adoption credit. 1. … Continue reading →

Posted in General | Tagged , , | Leave a comment

Mortgage Debt Forgiveness: 10 Key Points

Posted on February 29, 2012 by Camron Hoorfar

Canceled debt is normally taxable to you, but there are exceptions. One of those exceptions is available to homeowners whose mortgage debt is partly or entirely forgiven during tax years 2007 through 2012. The IRS would like you to know … Continue reading →

Posted in General | Tagged , , , , | Leave a comment

Six Tips on a Tax Credit for Retirement Savings

Posted on February 24, 2012 by Camron Hoorfar

If you make eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement, you may be eligible for a tax credit, depending on your age and income. Here are six things the IRS wants you to know … Continue reading →

Posted in General | Tagged , , , | Leave a comment

Ten Things to Know About Capital Gains and Losses

Posted on February 22, 2012 by Camron Hoorfar

Did you know that almost everything you own and use for personal or investment purposes is a capital asset? Capital assets include a home, household furnishings and stocks and bonds held in a personal account. When you sell a capital … Continue reading →

Posted in General | Tagged , , , | Leave a comment