Additional Forms May Be Required for 2013 Filing
If either or both of the surtaxes that took effect in January 2013 apply to you, be prepared to see additional forms included with your federal income tax return this […]
Exec Compensation & Medicare Tax
Will your exec comp be subject to expanded Medicare taxes? Maybe. The following types of executive compensation could be subject to the health care act’s 0.9% additional Medicare tax: Fair […]
Why You Should Max Out Your 2013 401(k) Contribution
Contributing the maximum you’re allowed to an employer-sponsored defined contribution plan, such as a 401(k), 403(b) or 457 plan, is likely a smart move: Contributions are typically pretax, reducing your […]
Investment Income Subject to New 3.8% Tax?
Under the health care act, starting in 2013, taxpayers with modified adjusted gross income (MAGI) over $200,000 per year ($250,000 for joint filers and $125,000 for married filing separately) may […]
Don’t Skimp on S Corporation Salaries
S corporation owners often take modest salaries as a tax-saving strategy. By distributing most of the corporation’s profits in the form of dividends rather than wages, the company and its […]
Tax Consequences to Consider Before Putting Your Home on the Market
When you sell your principal residence, you can exclude up to $250,000 ($500,000 for joint filers) of gain if you meet certain tests. Gain that qualifies for exclusion also is […]