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Tip of the Month for August 2013

For Many Small Business Owners, the Time is Right to Get a Loan According to data released in July by the Small Business Administration’s Office of Advocacy, small-business lending activity is on the increase. The number of loans is on an upswing, but the size of the amounts loaned is smaller. The agency’s yearly review […]

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August 2013, Newsletter

Good Information, Good Decisions

Are you getting the right information at the right time?

In todays economy

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Tax and Financial News for August 2013

Tax Breaks Provide Savings for Investors This is the last installment of our series on tax breaks for investors. We will look into three more provisions that might provide tax advantages and help you build wealth. Capital-Gains Exclusion Qualified small business stock can be 100 percent exempt from capital gains taxes if the right requirements […]

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Mid-Year Tax Planning Can Lead to Big Savings

Well, it’s that time of year again – August. It’s time to have a serious talk about taxes. Does that seem strange to you? Well, it really shouldn’t. The fact is, while you may think of March and April as tax season, that’s really just tax compliance season. Tax savings season is right now. And if […]

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August 2013 Tax Compliance Calendar

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for individuals, businesses and other taxpayers for the month of August 2013. August 2 Employers. Semi-weekly depositors must deposit employment taxes for payroll dates July 27–30. August […]

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Key Provisions Under the Affordable Care Act for Employers with Up to 50 Employees

Implementation of the Affordable Care Act occurs in stages, with many of the reforms and requirements taking effect in 2013 and 2014.  While many of the requirements, mandates and media coverage of the Act are directed towards employers with over 50 employees, there are also many significant provisions for smaller employers with up to 50 […]

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July 2013, Newsletter

Employer Mandate for Healthcare Reform Delayed Until 2015 In a decision announced on July 2, the Obama administration has decided to postpone the employer mandate for companies with 50 or more employees until 2015. The mandate was previously set to go into effect on January 1, 2014.

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How Do I? Get a tax break on my vacation home

Vacation homes offer owners tax breaks similar-but not identical-to those for primary residences. Vacation homes also offer owners the opportunity to earn tax-advantaged and even tax-free income. This combination of current income and tax breaks, combined with the potential for long-term appreciation, can make a second home an attractive investment. Homeowners can deduct mortgage interest […]

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FAQ: What can I deduct doing volunteer work for a charity?

For many individuals, volunteering for a charitable organization is a very emotionally rewarding experience. In some cases, your volunteer activities may also qualify for certain federal tax breaks. Although individuals cannot deduct the value of their labor on behalf of a charitable organization, they may be eligible for other tax-related benefits. Before claiming any charity-related […]

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IRS ruling highlights benefits of like-kind exchange, deferred tax arrangements

Gain or loss is not recognized when property held for productive use in a trade or business or for investment is exchanged for like-kind property. Instead, the taxpayer’s basis and holding period in the property transferred carries over to the property acquired in the exchange. Deferring taxable gain, always a good strategy, makes more sense […]

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