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Posts Tagged ‘2013 Tax Laws’

How to Maximize Your Tax Deduction After a Disaster Strikes

If your home, vehicle, or other personal property is damaged or destroyed by a sudden, unexpected casualty, an itemized tax deduction may help ease the financial burden. Fire, flood, tornado. Violent weather can wreak emotional and financial havoc. If your home, vehicle, or other personal property is […]

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Use Them or Lose Them: Tax Benefits that will be Gone after 2013

With the massive tax changes made at the beginning of 2013, it is hard to believe that many tax laws are still set to expire at the end of the year unless Congress acts. As the year winds down, now is a good time to review some […]

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Employer Health Insurance Requirement Postponed

The health care reform law passed in 2010 included a provision that would require employers of 50 or more full-time employees to provide affordable health insurance to their workers or face steep penalties. That provision was scheduled to take effect January 1, 2014. The Treasury Department has […]

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Clearing Up Some Confusion with the The Affordable Care Act

            The Affordable Care Act (ACA) has led to plenty of confusion. Below is a recent announcement by the U.S. Department of Labor, as referenced on the Small Business Administration Blog. The ACA requires employers to provide their workers with a notice […]

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Simplified Option for Home Office Deduction

  Do you work from home? If so, you may be familiar with the home office deduction, available for taxpayers who use their home for business. Beginning this year, there is a new, simpler option to figure the business use of your home. This simplified option does […]

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Afordable Care Act Employer Mandate Extended Unitl January 1, 2015

  The White House postponed the start date of the employer mandate to January 1, 2015.  This one-year delay will give employers with 50-or-more full-time equivalent employees time to wade through the thousands of pages of regulations issued to date. A few points to remember on the […]

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Social Security Administration Taking Claims from Same-Sex Spouses

On July 12, 2013 the Social Security Administration announced it is taking claims from individuals who believe they may be eligible for Social Security benefits. The announcement followed the Supreme Court decision in Windsor v. United States, declaring section 3 of the federal Defense of Marriage Act (DOMA) unconstitutional. […]

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Tips for Taxpayers Who Travel for Charity Work

Do you plan to travel while doing charity work this summer? Some travel expenses may help lower your taxes if you itemize deductions when you file next year. Here are five tax tips the IRS wants you to know about travel while serving a charity. 1. You must […]

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IRS Promises Swift Action On Guidance After Supreme Court Strikes Down DOMA

As you know from our previous blog posts, Lefstein-Suchoff CPA & Associates makes it a priority to keep you informed and up to date on all tax changes.  As a result of the U.S. Supreme Court’s decision, there may be significant tax changes. The U.S. Supreme Court’s […]

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Foreign Bank Account Report Filing Due Soon

The IRS and the Treasury Department are getting increasingly interested in U.S. citizens who maintain foreign bank, savings, and investment accounts. If you have any foreign investments, there’s an approaching reporting requirement that you should be aware of. You are required to file “Treasury Department Form 90-22.1,” […]

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