Author: Lisa Beamer
May 12, 2020
Episode 232: How Changes To Retirement Plans Make Everybody More Secure
Wendy breaks down the Setting Every Community Up For Retirement Enhancement (SECURE) Act on this episode of unsuitable on Rea Radio.
Oct 1, 2019
Does The IRS Care About Your Fantasy Football Team?
The game may be "fantasy" but the money is real.
Mar 26, 2019
When It Comes To The IRS, It’s All About The Small Victories
The IRS has lowered the penalty relief threshold to 80 percent. Keep reading to learn what this change means to you.
Dec 8, 2015
Need Help Staying Home? There’s A Deduction For That
As your health or the health of someone you care about begins to “slip” you may consider bringing in some additional assistance to help improve functionality and overall well being. Fortunately, you may be able to catch a bit of a break on your tax bill thanks to the personal medical expense deduction. Read on to learn more.
Jan 20, 2015
What’s Your FICO?
Do you know your credit score? This year, more people than ever before will have access to this valuable piece of information, which is significant if you are considering borrowing money. A few days ago Bank of America and JPMorgan Chase and Ally Financial announced that it will begin offering FICO credit scores to consumers … Continued
Jun 4, 2014
Are You A High Roller?
Have you ever found yourself on the lucky side of a casino, a lottery ticket or a riverboat? If so, listen up! You may feel lucky, but don’t forget about the IRS. Every year when we prepare tax returns for clients, we come across the lucky individual who receives a W-2G from their favorite casino, … Continued
Jan 2, 2014
Three Things You Need To Know About the Pease Limitation
A slew of tax provision changes hit taxpayers in 2013. Many of these changes were the result of the American Taxpayer Relief Act of 2012 (ATRA), which either introduced certain tax provisions, or caused them to expire. One particular provision that was delayed by the ATRA was the Pease limitation. But guess what? It’s back … Continued
Apr 12, 2013
Identity Theft Prevention
This time of year, we are meeting with the majority of our clients. As we meet to discuss taxes, it seems that everyone has a story to tell. Unfortunately, identity theft is a common theme in these stories. It’s happened to our clients and their acquaintances more regularly than we’d like to admit. Identify theft … Continued
Apr 12, 2013
Energy Property Credits
With spring starting and the housing market improving, many individuals are starting the process of building a new house or purchasing an existing house with plans to remodel. If you’re thinking of making home improvements, here are some tax credits to keep in mind. Residential Energy Efficient Property Credit The Residential Energy Efficient Property Credit … Continued
Dec 5, 2012
In the ever-changing world of technology, scam artists are using new “phishing” techniques to get confidential information from consumers and businesses alike. Phishing (as in “fishing for information” and “hooking” victims) is a scam where Internet fraudsters send email messages to trick unsuspecting victims into revealing personal and financial information that they then use to … Continued
Oct 25, 2012
Surprise – Self-Employment Taxes
So many self-employed individuals have asked me, “Why are my taxes so high? Individuals with their own business, including single member LLC’s, not only pay federal income taxes at their appropriate tax bracket, but they will also be liable for the Social Security and Medicare tax on the earnings of the business. As an employee … Continued
Jun 12, 2012
Do You Drive Your Personal Vehicle For Business?
If you own your own business or are an employee who uses your personal vehicle for business, you are allowed a tax deduction for this use. There are two methods which may be used to calculate the amount of the deduction: Standard Mileage Rate Method The deduction is calculated by multiplying the number of business … Continued
Nov 11, 2009
When Should You Collect Social Security?
Decisions, decisions. When it comes to Social Security benefits, deciding when to begin your benefits is a very big decision. It’s a choice you’ll want to make based on a number of points, including when you quit working, how much you have saved, how healthy you are, your marital status, the amount your spouse is … Continued
Nov 12, 2008
Have You Fed the Pig Lately?
Are you concerned about how you will afford your child’s college education with shrinking balances in your savings accounts? Do you need direction on how to assist your aging parents with their financial needs? Do you want to find ways to spend less each month? Helpful and understandable information on these and so many other … Continued
Oct 1, 2008
Thinking About Business Year End Gift Limits
Now that it’s autumn, many business owners are thinking ahead to year-end issues. Besides the numbers and year-end planning, one of the many things that might be on your mind is the holidays. Being the generous business owner that you are, you might be thinking about how you are going to reward your employees for … Continued
Sep 24, 2008
Stay Updated on Pension Regulations
Because pension regulations can be ever-changing, plan sponsors can quickly find it difficult to keep current with the laws and regulations. Here is a quick and free way to become better informed. All plan sponsors should consider enrolling through the online registration at www.plansponsor.com. By signing up online, you will receive a monthly magazine that discusses … Continued
Jul 18, 2007
Ok, here’s the bad news – many of us either already have had or will have the experience of getting something stolen from us personally or from our business. But, here is the good news – the IRS realizes this and allows for a deduction when this happens to you. According to the IRS guidelines … Continued
Jul 11, 2007
Do You Offer Your Employees a Section 125 Plan?
If you don’t currently offer your employees a Section 125 Plan, have you considered the benefits of starting one? Generally speaking, a Section 125 Plan allows your employees to withhold an amount from their paycheck that is not subject to the federal income tax, Social Security tax or Medicare tax. Most often, Section 125 Plans … Continued
Jul 4, 2007
Want to Save Taxes?
Hiring a junior family member can result in significant tax savings for your business. Putting your children on the payroll will allow you to shift potentially highly taxed income to a lower tax rate. It can even be tax-free in some situations. This tax strategy works because dependent children are entitled to a deduction against … Continued