Tax Planning

Find articles on last-minute tax breaks, rules for charitable giving, smart ways to spend your tax refund and more.  
What Is the “Kiddie Tax”?
We all know that everyone has to file a tax return and pay their taxes due, but does that apply to children, too? Many people may have heard of what is often referred to as the “kiddie tax.” The Virginia Society of CPAs explains who...
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Tax Tips for Those Serving in the Military
Are you or a loved one serving in the military? If so, you may be aware that there are many tax laws generally designed to make it easier to meet your tax obligations while serving your country. The Virginia Society of CPAs provides an...
Tax and Other Financial Considerations After a Natural Disaster
The year 2011 was a tough one for natural disasters, with hurricanes soaking the Atlantic coast, tornadoes wreaking havoc in Southern and Midwestern states and wildfires hitting Texas, among other events.  If you were affected by a natural...
Five Mistakes People Make in Choosing a Tax Preparer
Did you know that you are legally responsible for everything on your tax return, even if another person prepared it for you? Did you also know that your tax return paints a unique picture of your financial situation that you can use to make smart...
Planning for Your 2011 Tax Return
It’s likely that you’re thinking more of turkey rather than taxes at this point in the year, but you can make some decisions now that could keep some of your hard-earned money in your pocket when April 2012 rolls around.   Everyone...
Smart Tax-Planning Steps to Take Now
There are less than three months left in 2011. Have you done all that you need to do to simplify your tax situation and take advantage of the tax breaks available to you? The Virginia Society of CPAs offer this advice on actions you can take...
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The Importance of Year-Round Tax Planning
You did it! You successfully turned in your tax return by this year’s deadline. That means there’s no need to think about taxes for another year, right? In fact, the VSCPA advises that there are many smart and easy steps you can take...
The Latest News on the AMT
Do you consider yourself “wealthy?” Most people do not, especially during challenging economic times. But just because you don’t feel like a high-earner doesn’t mean you are immune to something that was originally created...
Cluttered Closets May Harbor Tax Deductions
Spring is a perfect time to clean out your closets and your garage. Do you have gently used clothing and household items that aren’t being used? Donate them to local charitable organizations! The  Virginia Society of CPAs (VSCPA) advises...
What You Need to Know About Estate Taxes
If you are handling the disposition of an estate, you are probably already aware that there was an unexpected reprieve from taxes on the estates of those who died in 2010. But if you’re involved in future estate planning for a loved one or...
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