Author Archives: JLM & Associates/Management & Tax Services

1. Report worldwide income. 2. File required tax forms. 3. Consider the automatic extension. 4. Review the foreign earned income exclusion. 5. Don’t overlook credits and deductions. 6. Get tax help outside the U.S. If you have questions or would … Continue reading →

Personal Exemptions Allowances:  The annualized allowance for each tax payer and dependent is $4,000.   The reason for the odd number is due to the fact that the annual rate changed as of October 1, 2012.  Additional exemption allowances were … Continue reading →

Personal Exemption Allowances:   Personal and Dependent amounts are $4,050 Each. Capital Gains and Qualified Dividends:  If you are in the 10 OR 15% tax bracket,  the tax rate is 0%.   For other income tax brackets, the tax rate … Continue reading →

Outsourcing payroll duties to third-party service providers can streamline business operations, but the IRS reminds employers that they are ultimately responsible for paying federal tax liabilities. Recent prosecutions of individuals and companies who – acting under the guise of a … Continue reading →

I had a client come to me with an envelope from the IRS and it was unopened.   They had received the envelope a couple of months before. Mail from the IRS or the State, is usually time dated and you … Continue reading →

Think about the impact of major life decisions on your taxes. Are you expecting? Divorcing? Buying a new house? Retiring? Major life decisions could potentially impact your federal income tax picture. If you’re planning to make a big change, ask us for advice. … Continue reading →