Tag Archives: money

IRS Has $153.3 Million in Undelivered Tax Refunds

This Wednesday the IRS said it has $153.3 million in undelivered tax refund checks waiting to be sent to over 99,000 taxpayers across the country.  The IRS stated that mailing address errors were the main problem with the undelivered refunds. … Continue reading

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IRS Releases 2011 Standard Mileage Rates

The IRS recently released the 2011 standard mileage rates below: -51 cents per mile for business miles driven -19 cents per mile driven for medical or moving purposes -14 cents per mile driven in service of charitable organizations -EAE

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Idea of the Week #6

If you are considering converting to a Roth IRA before the end of the year call us today and let us help you by preparing a detailed report to assist in your decision making.  Remember conversions done before the end … Continue reading

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Proposed Extension of Bush Era Tax Cuts

As reported by the Wall Street Journal in this morning’s paper below is a brief synopsis of the proposed tax cuts in the tax bill currently being decided on by Congress: All taxpayers (1)  Two-year extension of current tax rates … Continue reading

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Deduct Medical Premiums for SE Tax

Individuals who are self-employed may deduct their health insurance premiums in the calculation of self employment income on 2010 tax returns. Self-employment income is taxed at 15.3% so this will be a major benefit to self-employed individuals. -EAE

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Idea of the Week #4

Substantiation of certain business expenses is a requirement in order to have proof if ever requested by the IRS. Many independent contractors lose valuable expenses (travel for example) because they do not have the proper documentation to support the expense … Continue reading

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Idea of the Week #5

Please be aware of emails from EFTPS! There have been many emails sent out appearing to be from EFTPS.gov regarding online tax payments. In reality these emails contain viruses that can harm you computer and compromise sensitive information such as … Continue reading

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Where Are Your Assets?

Does your spouse know where your assets are should something happen to you (and it might not be upon your death)? It is important your spouse be aware of all of your income sources and where your assets and liabilities … Continue reading

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EAE Tax Bites

The tax bill for small businesses looks like it will be passed very soon. Some of the items which will affect you are as follows: 1. You may expense up to $500,000 of assets placed in service in 2010 and … Continue reading

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Estate & Gift Planning 2010 Style

How do you plan estate tax futures with the uncertainty reflected in our Washington politics? As of now, even though we at Estes Armstrong Earley think some form of the old estate tax rules of 2009 will go forward, we … Continue reading

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CIRCULAR 230 DISCLAIMER: ADVICE, ARTICLES AND COMMENTARY INCLUDED HEREIN DO NOT CONSTITUTE AN OPINION AND ARE NOT INTENDED OR WRITTEN TO BE USED, AND THEY CANNOT BE USED, BY ANY TAXPAYER FOR THE PURPOSE OF AVOIDING PENALTIES THAT MAY BE IMPOSED ON THE TAXPAYER.