Tax Notifications and Updates for 2014

Posted on: January 22, 2014

This article discusses Tax Notifications and Updates for 2014:          Postponement of Filing Date    Taxpayers are still feeling the effects of the federal government shutdown which lasted for 16 days in October. According to the IRS, January 31st is the earliest date that the agency will begin processing individual tax returns, a postponement that was necessary in order to complete all the system updates which were affected by the shutdown. Taxpayers can still submit their returns electronically as soon as they are ready and the e-filer will hold them until processing begins. However, the IRS encourages anyone who … [Read more…]

Unemployment Benefits Set To Expire

Posted on: January 4, 2014

  It seems that unemployment benefits may be set to expire. When Congress passed a budget deal last week, they failed to extend the program that provides federal unemployment benefits to the long term unemployed. As a result, unemployment benefits for anyone depending on federal unemployment assistance will stop this week. Federal benefits normally start when state benefits run out and can extend the overall benefit period by almost a year. Although the federal benefit checks are usually less than the state checks, they have provided extended relief to many who have not been able to find employment during the … [Read more…]

Happy New Year From Business Tax Preparation!

Posted on: January 3, 2014

Wishing you a Happy New Year from Business Tax Preparation!  

Unemployment Falls to New Low

Posted on: December 17, 2013

  In November, the United States economy added 203,000 jobs, beating the economists’ prediction by 20,000. At 7%, the unemployment rate is at the lowest level since November 2008. This news is inspiring for the 11 million Americans who remain unemployed. The big gains this month came from the two ends of the wage spectrum – jobs that pay low wages and those that pay higher salaries. For example, while restaurants and retailers continued to create jobs, business and professional services created even more. According to Deloitte’s Chief Financial Officer, Frank Friedman, “This was a strong, good quality report showing … [Read more…]

U.S Property Taxes: Highs and Lows!

Posted on: December 11, 2013

According to a new residential property tax study from the Tax Policy Center, some of the lowest property taxes in America are found in certain counties in Alabama and Louisiana. Between 2007 and 2011, when data for the survey was collected, 60% of the counties in the country reported average property taxes of between $500 and $1500 a year.  During that same period of time, the study found 24 counties with annual property tax bills below $250 per month, mostly in Alabama and Louisiana. The results of the study also revealed that parts of Michigan, Nebraska, Ohio and North Dakota … [Read more…]