Tampa CPA and Tax Services IRA Contribution

It’s Not Too Late to Make a 2013 Contribution to an IRA

Tax-advantaged retirement plans allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. But annual contributions are limited by tax law, and any unused limit can’t be carried forward to make larger contributions in future years. So it’s a good idea to...
Tax Return in St Petersburg Florida

Your 2013 Return May Be Your Last Chance For 2 Depreciation-Related Breaks

If you purchased qualifying assets by Dec. 31, 2013, you may be able to take advantage of these depreciation-related breaks on your 2013 tax return: 1. Bonus depreciation. This additional first-year depreciation allowance is, generally, 50%. Among the assets that qualify are new...
2013 Tax Credits for Education

2013 Higher Education Breaks May Save Your Family Taxes

Tax credits can be especially valuable because they reduce taxes dollar-for-dollar; deductions reduce only the amount of income that’s taxed. A couple of credits are available for higher education expenses: The American Opportunity credit — up to $2,500 per year per student for...
Financial Planning and Financial Services and Certified Public Accountants - Dividends and Taxes

Don’t Overlook Reinvested Dividends

One of the most common mistakes investors make is forgetting to increase their basis in mutual funds to reflect reinvested dividends. Many mutual fund investors automatically reinvest dividends in additional shares of the fund. These reinvestments increase tax basis in the fund,...