Monthly Archives: January 2016

Roll with the Changes – Amending a Tax Return

Did you file a return incorrectly?
Did you forget to include a W-2? Or did you forget some major deductions?
Or do you just not feel comfortable with your preparer?
No problem. Just amend your return!
You have up to 3 years from the filing due date (the extended filing due date, if extended) to file an amended […]

By |January 27th, 2016|Taxes|0 Comments

KPR Fast Facts: Living outside the US

If you are a US resident living outside of the US temporarily, earning income, several rules can apply to you. Your facts and circumstances, and intent, determine the taxation rules that apply.

In some cases, where you are earning income as a US resident, you are entitled to a substantial foreign income exclusion.

This can be done […]

By |January 26th, 2016|Taxes|0 Comments

KPR Fast Facts: New Mileage rates

Mileage rates change annually.
Auto expenses can be deducted, based upon business usage- consult with your professional to find out if this applies to you.

Current rates are as follows for 2015

Business miles 57.5c
Charitable miles 14c
Medical & Moving Miles 23c

Preliminary rates are as follows for 2016

Business Miles 54c
Charitable miles 14c
Medical & Moving miles 19c

By |January 25th, 2016|Fast Facts, Taxes|0 Comments

KPR Fast Facts: NEW ACA/Obamacare Forms

YES, More Forms!
There are new forms that may appear in your mailbox, as part of the Obamacare/Affordable Care Act of 2015. You may receive either a form 1095-A, 1095-B or 1095-C, depending on who is providing your health insurance.

The difference between these forms is generally where you get your coverage.

A forms are issued by the […]

By |January 24th, 2016|Uncategorized|0 Comments

Incorporate: Now or Later?

A stroke of genius- saving money if you are self employed.
If you start your own business, it makes sense to do some planning in advance. If you are successful, there is a way to avoid heavy taxes, including self employment tax. But you must act within the calendar year to be successful.

Left to your own […]

By |January 24th, 2016|Incorporating, Taxes|0 Comments

Leverage Hardship to Avoid Obamacare Tax Penalties

The law of the land, beginning in 2014, is that EVERY individual is required to carry minimal healthcare insurance coverage without exception… Or ARE there exceptions?

YES! There are…

These are just some of the ways you can avoid having to be covered under the new Obamacare tax requirements. The following 11 ways are legally considered to […]

By |January 18th, 2016|Obamacare Tax Penalty, Taxes|0 Comments

Scam Alert: 5 Things the IRS will NEVER do

There has been an incredible surge in phone contacts from scammers claiming to represent the IRS and making demands of taxpayers. Taxpayers are falling for these scams in abundance, last year netting 23 million dollars to scammers who insist they are from government agencies. The following list represent signals that you are being scammed.

5 Things […]

By |January 4th, 2016|Scams|0 Comments