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10Jul2014

Mid-Year Tax Planning Checklist

All too often, taxpayers wait until after the close of the tax year to worry about their taxes and miss opportunities that could reduce their tax liability or financially assist them. Mid-year is the perfect time for tax planning. The following are some events that can affect your tax return; you may need to take
  • 10 Jul, 2014
  • Haley Spain
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08Jul2014

How to Get the Best of Health FSA Carryovers and HSA Contributions

Health savings accounts (HSAs) and health flexible spending accounts (health FSAs) are two types of tax-advantaged medical savings accounts that individuals can use to pay for qualifying medical expenses. But the two accounts don’t necessarily mix, according to recentIRS Chief Counsel Advice (CCA) 201413005. Specifically, you can’t contribute to both types of accounts in the same
  • 8 Jul, 2014
  • Haley Spain
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07Jul2014

Documentation Is Key to Car and Truck Expenses

When it comes to vehicle expense tax deductions (and costs related to other “listed” property), as well as travel and entertainment expenses, the law is clear and strict on required documentation. And, there is almost little wiggle room. Facts of the Case Lee Baker worked as a self-employed truck driver. He owned a 1995 Mack Truck tractor
  • 7 Jul, 2014
  • Haley Spain
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