Did you know it's actually the giver of the gift that is potentially subject to gift tax?--and not the recipient? It seems the opposite would be true (I mean, we're all used to the government taking a cut of what we receive, right?). But if you give money OR property to someone as a gift, [...]
Why the rule exists Sometimes two parties want to exchange similar properties with each other. This may especially be the case with real estate properties. Rather than execute a buy/sell of these properties between between themselves, which would involve a taxable gain or loss immediately, there may be the potential to simply trade the properties, [...]
Whether you already contribute to a retirement fund, or you are thinking about it, below is an overview. Remember you have until your tax return due date 04/17/18, or extended due date 10/15/18, to make a contribution for 2017 (and to take a deduction on your 2017 tax return). Your individual circumstances can effect the [...]
There are multiple tax return types besides just the individual tax return, and there are different due dates and filing requirements as well– If you have a corporation, you must file a corporate tax return (which is different from an individual tax return). Corporate tax returns are due the 15th of the third month after the [...]
It used to be the rule you could exclude the gain on the sale of your home if you reinvested in a new home within 2 years. But this is no longer the case--in fact, it's a much better rule now. Now there is a capital gains exclusion of up to [...]
You have a busy schedule, and it's hard to find time to meet. That's why E. Daniel Miller, CPA, PC makes tax preparation easy for you-- We provide a secure online folder just for you, and you can upload your tax documents to it of any kind. It doesn't have to be formal; you can [...]
We make it easy! Tax time can be stressful, and we are here for you! We are knowledgeable, responsive, and accessible! Contact us any time, and we will respond within 24 hours. Reaching us is easy by phone, email, text, Facebook, LinkedIn, and Google+. Below is our detailed contact information. The tax code remains complex, and it takes [...]
Just a quick reminder that corporate and individual tax returns have different due dates! - Corporate tax returns are due March 15th . - Individual tax returns are due by April 15th Please feel free to contact us if you have any questions concerning corporate tax returns and your obligations. Whether you HAVE to file [...]
Why the rule exists There are circumstances that arise in which you may want to exchange property in your possession for similar property belonging to someone else. Rather than execute a buy/sell of the properties between yourselves involving gain/loss immediately, there may be the potential to simply trade the properties between yourselves deferring the outcome. [...]
First off, what is a 529 plan? A 529 plan is an education savings account to which parents--or whomever--can EDM - Bills 01 - Image courtesy of David Costillo Dominici at FreeDigitalPhoto.netcontribute money to cover the future college costs of a child, grandchild, etc--regardless of age (newborn or older). Congress created this qualified tuition program [...]