By JoeRoot October 17, 2014
Linda M. Teachout CPA, PLLC Provides excellent services. I would highly recommend her and the Accounting Services staff. They are excellent! ...read more
By samet December 14, 2013
Hi, I am looking apogee 5500 laser epilasion tools in Seattle, if it is possible can you help me? my e-mail:sametsakar@yahoo.com ...read more
By sieglerwillis February 23, 2013
About 3-4 years back when I retired, I took everything I got out of my 401K. I was thinking that once I received the money the tax was deducted. I was wrong. I was wrong to assume the IRS wouldn’t come after my government check. They garnished me for over 12 months and I finally called these attorneys for assistance. I am happy I did. I can finally relax in my retiring days. ...read more
With Christmas almost here it is time to start thinking taxes. After the 31st of December there is very little you can do tax wise about 2009. Sell your dogs (losing stocks) before the 31st to use the capital loss. Make year end charitable contributions, not only for the warm fuzzy of helping your fellow human being, but for the fair market value tax deduction. Remember your kids donations are YOUR donations if you claim your kids as dependents. This year if you are thinking about buying a BRAND NEW CAR that is a never been owned before car the sales tax is deductable even if you don't itemize. If you DO itemize consider buying extra stuff for your job now so you have the possible biggest bang on the 09 return. Lots of folks seem to be job hunting nowadays....if you are one of them don't forget those expenses may be deductable (great time to have that job interview in Memphis). We are available to consult with you on these topics and many more. Just give us a call, make an appointment, we can save you money. Will Russell, EA President Rite-Line Tax Service ...read more
By Rite Line Tax Service Inc December 16, 2009
Highlights of Tax Changes Here are some highlights of recent tax changes that businesses and individuals should be aware of. The Economic Stimulus Payments areTax Free Economic stimulus payments sent out this past summer are not taxable and are not to be reported on 2008 tax returns. The Stimulus Payment, however, does affect whether a taxpayer can claim a Recovery Rebate Credit and how much is received. Alternative Minimum Tax Exemption Increased for One Year Congress raised the 2008 alternative minimum tax exemption to: [1] $69,950 for married couple filing jointly, as well as qualifying widows/widowers, an increase from $66,250 in 2007; [2] $34,975 for married filing separately, increased from $33,125; [3] $46,200 for single persons and head of household, increased from $44,350 Certain Tax Break Renewals Some tax breaks which expired at the end of 2007 have been renewed for 2008 and 2009. These include: [1] State&local; sales tax deductions; [2] Educator expense deduction; [3] Tuition&fees deduction; [4] First-time home buyer in the District of Columbia. Also, the residential energy-efficient property credit has been extended through 2016. This includes solar electric, solar water heating and fuel cell property to qualify for this credit. Beginning in 2008, small wind energy and geothermal heat pump will also qualify. The non-business energy property credit which includes insulation, exterior windows, exterior doors, furnaces, water heaters and other energy-saving improvements to a main home will not be available in 2008, but will return for 2009. Standard Deductions Increased for Many Approximately two-thirds of taxpayers take the standard deduction rather than itemizing deductions. For such taxpayers the standard deduction is: [1] $10,900 for married filing jointly, as well as qualifying widows/widowers; [2] $5,450 for single & married filing separately; [3] $8,000 for head of household. Taxpayers who are blind and seniors have higher amounts. Something new this year is that certain taxpayers can now claim an additional standard deduction based on state or local real estate taxes paid. Also new for 2008, taxpayers may increase their standard deduction if they experienced a loss within a federally declared disaster area. Homebuyer Credit Qualified taxpayers purchasing a home for the first time (i.e., haven't owned a home within the past three years) may qualify for a first-time homebuyers credit. This is a credit for up to $7,500 which will in essence be akin to a 15 year interest-free loan This can be claimed on homes purchased between 04/09/2008 and 06/30/2009. Repayment will be in the form of an additional tax. There are income and other restrictions. IRA Contribution Limits For 2009 more individuals will be allowed to make tax-deductible contributions to a traditional IRA. The deduction is phased out for singles and heads of household who are covered by an employer-sponsored retirement plan and have modified adjusted gross incomes from $53,000 up to $63,000. Couples filing jointly where the spouse who makes the IRA contribution is covered by an employer-sponsored retirement plan, the phase-out range is between $85,000 to $105,000$103,000. A contributor to an IRA not covered by an employer-sponsored retirement plan who is married to someone who is, the deduction is phased out if the combined income is between $159,000 and $169,000. The phase-out range for employer-sponsored retirement plans remains unchanged. The elective contribution deferral limit for employees who participate in 401(k), 403(b) and many 457 plans also remains unchanged. In 2009, however, these will rise to $16,500. Catch-up contribution limits for taxpayers between 50 through 70.5 years are unchanged, but will rise to $5,500 in 2009. The AGI phase-out range for taxpayers who contribute to a Roth IRA is $159,000 to $169,000 for married filers, as well as qualifying widows/widowers. Singles and heads of household have a phase-out range between $101,000 and $116,000. Standard Mileage Rates for 2008 The standard mileage rate for business use of a vehicle is 50.5 cents per mile from 01/01/2008 - 06/30/2008. From 07/01/2008 the rate is 58.5 cents. The standard mileage rate for medical use of a vehicle is 19 cents per mile from 01/01/2008 - 06/30/2008. From 07/01/2008 the rate is 27 cents. The standard mileage rate for charitable use of a vehicle remains as 14 cents per mile. Exemptions Personal and dependency exemption is now $3,500. Any taxpayers who can be claimed on another taxpayer's form as a dependent may not claim a personal exemption. This exemption is still phased out for higher-earning taxpayers, but at less rates than previous years. Earned Income The maximum earned income tax credit this year is: [1] $4,824 for taxpayers with two or more qualifying children; [2] $2,917 for taxpayers with one qualifying child; [3] $438 for qualifying taxpayers with no children. Income thresholds for the Earned Income Credit are: [1] $41,646 for taxpayers with two or more qualifying children; [2] $36,995 for taxpayers with one qualifying child; [3] $15,880 for taxpayers with no children. Self-Employment Tax For taxpayers receiving Social Security Retirement / Disability benefits, Conservation Reserve Program payments are now exempt from the 15.3-percent social security self-employment tax. Schedule SE and its instructions andPublication 225, Farmer̢۪s Tax Guide, have the details. Many farmers and other self-employed taxpayers this year may choose an optional methods for computing their self-employment tax. These optional methods allow taxpayers with a net loss or small amounts of business income a way to obtain up to four credits of Social Security coverage. The income threshold for the farm and non-farm optional method has been increased this year and are to be indexed for inflation hereafter. We hope this may help many taxpayers with questions. Call us should you have additional questions. ...read more
By Calvin & Associates / Charles Conti Company March 10, 2009
MEDICAL INSURANCE - SEATTLE, WA - NUTU FINANCIAL SERVICES, INC. - MEDICAL INSURANCE SEATTLE, WA As a broker we can direct you to the right products currently offered by a wide range of providers. We are not confined to one single provider of product. We are able to tailor benefits and programs that will best suit the individual needs by not being confined to a single companies list of products and services. Call us for more information. Nutu Financial Services, Inc. 701 Fifth Avenue, Columbia Tower Ste. 4300Seattle, WA 98104Phone 206.792.7899MEDICAL INSURANCE SEATTLE WA ...read more
By Health and Medical Insurance Seattle - Medical - Health INSURANCE - Health and Medical Insurance Seattle - INVESTMENT PORTFOLIOS FOR COMPANIES AND INDIVIDUALS Nutu Financial Services, Inc. February 07, 2009
Many people give money to family members as a gift in their time of need or if they come into a substantial amount of money. Giving money to a family member can sometimes be taxed; however, there are ways to avoid this this and give money to family members free of tax. ...read more
Many people have opted to learn to file their taxes themselves. This is a great way to save money, and it puts people in control of their own tax return. The process can be confusing, but there are enough resources to learn the correct method. ...read more
