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Our useful Tax e-Newsletter, which we email periodically, contains important tax news and advice.  It provides tax saving ideas for both individuals, businesses and the self-employed.  Note: We are still emailing our Tax e-Newsletter but have not posted them to this page.  If you access any of the newsletters below, keep the date that it was published in mind.  Look in the upper right of the article for up-to-date information regarding the topic.

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The information presented in the Tax e-Newsletter is only of a general nature, may omit many details and special rules, is current only as of its published date, and accordingly, cannot be regarded as legal or tax advice. Please contact your tax advisor for more information on the subject and how it pertains to your specific situation.


November 2008 - Divorce tax issues - This newsletter provides you with information which could be helpful for individuals facing a divorce or legal separation. Unfortunately, in addition to the difficult personal issues the process entails, several tax concerns need to be addressed to ensure that tax costs are kept to a minimum and that important tax-related decisions are properly made  More...

May 2008 - Estimated tax rules for individuals - I had lots of questions this year regarding why it is necessary to make estimated tax payments and the applicable rules for paying the minimum amount of estimated tax without triggering the penalty for underpayment of estimated tax. More...

December 2007 - The Colorado Child Care Contribution Credit - What a deal! - In March of 2004, the Colorado Legislature extended the Child Care Contribution Credit through December 31, 2009. The State of Colorado has chosen to encourage taxpayers to contribute to programs that promote child care in Colorado.  More...

November 2006 - New "kiddie tax" rules - For parents thinking about trying to save taxes by transferring assets into their children's names, Congress has just thrown up another roadblock. In the recently enacted Tax Increase Prevention and Reconciliation Act, Congress raised the age at which the unearned income of minor children is taxed at the parents' tax rate from under age 14 to under age 18. More...

October 2006 - Tax aspects of a parent entering a nursing home  - Recently, a client asked me whether amounts paid for long-term medical care including amounts paid to the nursing home are deductible, whether insurance premiums covering the cost of long-term care including nursing home expenses (for the part of the year before your parent enters the nursing home) are deductible, and whether the gain on the sale of her parent's home will qualify for the $250,000 exclusion. More...

September 2006 - Internal Controls - How are you managing your business finances? Many business owners are discovering that their assets are not as well protected as they thought. More...

August 2006 - Tax Reporting for Disqualifying Dispositions of ESPP Shares  - I get many questions about the tax ramifications of  disqualifying qualified employee stock purchase plan (ESPP) transactions.  First, let’s define “disqualifying disposition.”  The amount of compensation income you report depends on whether your disposition is a disqualifying dispositionMore...

July 2006 - The tax consequences of stock options  - Some employers are still granting stock options to employees as part of their compensation packages. From a tax standpoint, there are two kinds of options—statutory and nonstatutory. “Incentive stock options,” or ISOs, as they are commonly known, are statutory options, because they are specifically provided for in the Internal Revenue Code and are subject to numerous qualification requirements.  More...

June 2006 - How the Tax Increase Prevention and Reconciliation Act affects individuals  - As you probably know, the President signed the Tax Increase Prevention and Reconciliation Act into law on May 17, 2006. This new law carries important tax changes for individuals. Most apply this year but others kick in several years down the road, and while most changes (such as those affecting AMT and capital gains) are tax-savers, others (such as the revised “kiddie tax” rules) could negatively impact you and your family. Here's an overview of what you need to know right now about this new law.  More...

January 2006 - How long must I keep tax records for my individual tax return? -  The answer depends on a number of factors.  First, it depends on the accuracy of your return.  Generally, the IRS statute of limitations expires three years after filing, so you must retain all documents used to file the return for at least that long.  More...

November 2005 - Updated, larger tax incentives for hybrid vehicles - For hybrid cars purchased through December 31, 2005, hybrid car buyers are allowed a $2,000 federal income tax deduction.  This deduction was slated to diminish to $500 in 2006.  But President Bush signed the Energy Policy Act of 2005 on August 8, 2005 which allows even larger tax incentives for new hybrid vehicles purchased beginning January 1, 2006.  More...

October 2005 - Putting your kids on the payroll - As the owner of a business, you should be aware that you can save family income and payroll taxes by putting junior family members on the payroll. You may be able to turn high-taxed income into tax-free or low-taxed income, achieve social security tax savings (depending on how your business is organized) and even make retirement plan contributions for your child.  More...

September 2005 - Are your business meals and entertainment expenses deductible? - This type of expense requires you to jump through several extra hoops to qualify as deductible and is subject to limitations.  More...

August 2005 - Home Office Deductions - If you're self-employed and work out of an office in your home, and if you satisfy the strict rules that govern those deductions (discussed below), you will be entitled to favorable “home office” deductions...  More...

July 2005 - Independent Contractor v. Employee - It's critical for a company periodically to review the status of its workers and see if they are properly classified. A company must withhold federal and state income tax, social security taxes, and medicare taxes on wages it pays workers who are employees.  More...

June 2005 - Standard Mileage Rate Simplifies Auto Records and Deductions - There are two IRS-authorized methods for computing car expenses for local transportation or travel away from home: the standard mileage rate method (40.5 cents per mile for 2005), and the actual cost method.  More...
 

February 2005 - Smart use of dependency exemptions - Generally, you can claim a tax deduction of $3,100 (for 2004) for each child who qualifies as a dependent.  However, as children grow older and either start working or leave for college, the issue of who is entitled to the dependency exemption often arises.  More...

January 2005 - Health Savings Accounts (HSAs) - Designed somewhat like IRAs, these new accounts can be used to build tax-sheltered nest eggs that can pay out-of-pocket medical expenses with tax-free dollars.  More...

December 2004 - Tightened Rules For Donated Vehicles - Starting next year, charitable donations of motor vehicles will fall under strict new rules if the claimed deduction exceeds $500. Your write-off will now depend on how the donated vehicle is used by the charitable organization.  More...