Monthly Archives: February 2012

If you took advantage of the escalating gold and silver prices and made any sales of gold, silver, gems, jewelry, or the like during 2011, you are required to report the sales on your tax return. Whether or not the … Continue reading →

Schedule C is the form that unincorporated sole proprietor businesses use to report their income and expenses as part of their individual tax returns. Schedule Cs have been center stage in recent IRS “tax gap” estimates. The tax gap is … Continue reading →

Candidates seeking political offices aren’t the only individuals who are “nominees.” For tax purposes, if you receive, in your name, income that actually belongs to someone else, you are also a nominee. Being a nominee means you must file with … Continue reading →

It’s not too late to make an IRA and/or SEP contribution or undo a Roth IRA conversion for 2011. Generally, after the close of the year you can no longer take steps to alter the outcome of your tax return. … Continue reading →

This new filing requirement “Specified foreign financial asset” does not replace a taxpayer’s obligations to file a Report of FBAR –“Foreign Bank and Financial Accounts”. The FBAR is used to help theUnited Statesgovernment identify persons who may be using foreign … Continue reading →

Now that tax season is upon us, so are the e-mail scammers pretending to be the IRS. Most of these scams fraudulently use the IRS name, logo, and/or website header as a lure to make the communication appear more authentic … Continue reading →

  February 1 – Tax Appointment If you don’t already have an appointment scheduled with this office, you should call to make an appointment that is convenient for you. February 10 – Report Tips to Employer If you are an … Continue reading →