Larry Simpson

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Plan now for your 2013 income tax filing

Income tax filing occurs January thru April 15 every year. Income tax PLANNING must happen all year. There are simple things that can be done to make April 15 less stressful. Every year, millions of workers have far more withheld from their pay than what is required. This becomes an interest free loan these workers …

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CFO PROGRAM

*(CASH FLOW OPTIMIZATION)* Tax “season” is over, it’s time no w for small business owners to review their balance sheets and find opportunities to improve the life blood of their business; cash flow.* A business owner should understand the business situation. This seems like a simple statement, however*cash flow is THE essential aspect of any …

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Additional Medicare Tax for High Income Taxpayers

Beginning in 2013, an additional Medicare tax will apply for individuals with wage income, other compensation, and/or self-employment income that exceed certain threshold amounts. The additional Medicare tax is calculated as 0.9% of the total of wages, other compensation, and self-employment income that is in excess of the taxpayer’s threshold amount. For those taxpayers that …

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Where’s My Refund?

Now that tax season is in full swing, you might be wondering Where’s My Refund? You are able to check your refund status at IRS.gov, but you will need some information before you go looking for your refund. 1.) When should you check your refund status? You should not check any earlier than 24 hours …

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Tax Tips for “The Season of Giving”

As the year winds down, are you in a generous mood wanting to contribute to a charity? If so, keep in mind some “tips” that will impact your tax return! 1) Contribute to an IRS Qualified Charity. If you are unsure, ask the organization about its tax-exempt status. Remember, giving gifts to individuals CANNOT be …

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