Business Tax Adjustments for 2013
The “Tax Holiday” is over! Well we did not perish as we slid over the fiscal cliff, but there are certain tax consequences that we should be aware of for the 2013 year. I want to talk about two things that affect business owners in order for you to plan more easily…
Get Tax Credit for your Donations
One of the things that I love most about Buffalo is the generosity of my neighbors. Although the WNY area is considered to have one of the lowest incomes in the nation, the people of Buffalo and its environs are on the top of the list when it comes to generosity. I…
Use your Tax Refund to purchase US Savings Bonds!
By designating a portion of your tax refund (up to a maximum of $5000) to buy U.S. Savings Bonds, you can build long-term savings and assets. The purchase of savings bonds is one way to start or increase your overall savings. Simply complete a Form 8888, Allocation of…
Are you an Employee or an Independent Contractor?
The rule of thumb in determining if you are an employee or an independent contractor (Self Employed) is based on the business relationship (primarily looking at the “right to control” or independence) that exists between you and the firm. Evidence of the degree of…
FMV Tax Favorite Christmas Present
FMV Tax Professionals would like to thank Joyce and Richard Delong at Insty-Prints for the best Christmas present this season… a very nice article about us in their newsletter. See a portion of the article below. FMV Tax Professionals Despite being a tax…
Energy Efficient Home Tax Credits
If you made your home more energy efficient in 2011, you may be eligible for a non-refundable personal tax credit. Improvements such as insulation, energy exterior doors and windows, water heaters, furnaces and air conditioners can be worth up to $500, of which only…
Charitable Contributions May Lower Tax Bill
Did you make charitable contributions to a qualified organization in 2011?? Doing so may help lower your tax bill. Here are some tips to help ensure your contributions pay off on your tax return. To claim a tax deduction: you must give to a qualified…
Protect Your Personal Information
Protect Your Personal Information: The IRS does NOT initiate taxpayer communications through Email. Generally, the IRS does not send unsolicited e-mails to taxpayers. Further, the IRS does not discuss tax account information with taxpayers via e-mail or use e-mail to…
FMV Tax: Here to Help!
FMV Tax Professionals is a fully comprehensive tax preparation firm. We will get your tax returns prepared fast, accurately and with personalized attention. We are here all year long to follow up with any tax questions you have. We do taxes for individuals, businesses…