Tag Archives: IRS

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 →

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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 →

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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 →

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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 →

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Four Things to Know About Bartering

Posted on February 20, 2012 by Camron Hoorfar

In today’s economy, small business owners sometimes save money through bartering to get products or services they need. The IRS wants to remind small business owners that the fair market value of property or services received through barter is taxable … Continue reading →

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Dirty Dozen Tax Scams

Posted on February 17, 2012 by Camron Hoorfar

The Internal Revenue Service has issued its annual “Dirty Dozen” tax scams list, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty … Continue reading →

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The Child Tax Credit: 11 Key Points

Posted on February 13, 2012 by Camron Hoorfar

The Child Tax Credit is available to eligible taxpayers with qualifying children under age 17. The IRS would like you to know these eleven facts about the child tax credit. 1. Amount With the Child Tax Credit, you may be able … Continue reading →

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Tax Law Changes for 2011 Federal Tax Returns

Posted on February 10, 2012 by Camron Hoorfar

Before you file your 2011 federal income tax return in 2012, you should be aware of a few important tax changes that took effect in 2011. Check www.IRS.gov before you file for updates on any new legislation that may affect … Continue reading →

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Safeguard Your Refund – Choose Direct Deposit

Posted on February 6, 2012 by Camron Hoorfar

Direct deposit is the fastest, safest way to receive your tax refund. When a taxpayer combines e-file and direct deposit, the IRS will likely issue your refund in as few as 10 days. Here are four reasons more than 79 … Continue reading →

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Five Tips for Recently Married or Divorced Taxpayers with a Name Change

Posted on February 3, 2012 by Camron Hoorfar

If you changed your name after a recent marriage or divorce, the IRS reminds you to take the necessary steps to ensure the name on your tax return matches the name registered with the Social Security Administration. A mismatch between … Continue reading →

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