Tax Tip: What You Should Know about the AMT

12/22/15

Even if you’ve never paid the Alternative Minimum Tax before, you should not ignore this tax. Your taxes may have changed so that this may be the year that you need to pay AMT. You may have to pay this tax if your income is above a certain amount. AMT attempts to ensure that taxpayers who claim...

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Keep Track of Miscellaneous Deductions

12/06/15

Miscellaneous deductions can cut taxes. These may include certain expenses you paid for in your work if you are an employee. You must itemize deductions when you file to claim these costs. So if you usually claim the standard deduction, think about itemizing instead. You might pay less tax if you...

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For Small Businesses: IRS Raises Tangible Property Expensing Threshold

12/06/15

The Internal Revenue Service simplified the paperwork and recordkeeping requirements for small businesses by raising from $500 to $2,500 the safe harbor threshold for deducting certain capital items. The change affects businesses that do not maintain an applicable financial statement (audited...

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Where is the Economy Heading in 2016? RMA Orange County Presents 2016 Economic Update

12/06/15

The Risk Management Association, Orange County Chapter is pleased to present a 2016 Annual Economic Forecast by Dr. Christopher Thornberg, founding partner of Beacon Economics, LLC, on Thursday, January 28, 2016, 11:30 a.m. – 1:30 p.m. at The Pacific Club, 4110 MacArthur Blvd., Newport Beach....

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