Source: http://www.cricpa.com/category/services/individual-tax/
Timestamp: 2017-02-23 04:45:49
Document Index: 263398376

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INDIVIDUAL TAX Archives - CRI Carr Riggs Ingram | Regional Accounting Firm
“Yours, Mine, or Ours?” Part 3: Four Income Tax Considerations of a Divorce	“Yours, Mine, or Ours?” Part 3: Four Income Tax Considerations of a DivorceIn our “Yours, Mine, or Ours?” series, we have explored the issues of separate property and marital assets as they relate to Bob and Helen, who are divorcing after more than three decades of marriage. In the final installment of our saga, Helen and her CPA, Ruth, meet to review four key income tax considerations [...]
Olivia Mitchell	2017-02-22T18:34:32+00:00	February 22nd, 2017|INDIVIDUAL TAX|Read More
“Yours, Mine, or Ours?” Part 2: Identifying and Valuing Marital Property	“Yours, Mine, or Ours?” Part 2: Identifying and Valuing Marital PropertyThe first part of our “Yours, Mine, or Ours?” series introduced Bob and Helen, a divorcing couple living in Texas. In the first meeting with her attorney, Helen discovered that the couple owns assets in several categories, each of which will be treated differently in the divorce proceedings. This second part follows Helen as she [...]
Olivia Mitchell	2017-02-22T18:34:14+00:00	February 22nd, 2017|INDIVIDUAL TAX|Read More
Extensions and Amendments: What Increases Your IRS Audit Risk Contrary to popular belief, tax extensions may be more likely to make the IRS smile than frown. Watch as Matt Zasada explains why filing an extension might be less risky than rushing to meet a deadline. Rachel Morse	2017-02-21T14:04:42+00:00	January 12th, 2017|INDIVIDUAL TAX, VIDEO|Read More
“Yours, Mine, or Ours?” Part 1: Determining Community and Separate Property in a Divorce	“Yours, Mine, or Ours?” Part 1: Determining Community and Separate Property in a DivorceIt is often estimated that approximately half of all U.S. marriages end in divorce. While some may consider this statistic to be common knowledge, what is less well-known is how divorcing couples should go about dividing their assets and liabilities. Thus, “Yours, Mine, or Ours?” is a three-part saga that explores the story of Bob [...]
Olivia Mitchell	2017-02-22T17:01:40+00:00	December 13th, 2016|INDIVIDUAL TAX|Read More
Why the Election Outcome Could Bring an Avalanche of Tax Law Changes	Why the Election Outcome Could Bring an Avalanche of Tax Law ChangesThe election of Donald Trump as president of the United States, along with Republicans retaining control of both chambers of Congress, will likely result in an overhaul of the U.S. Tax Code. Based on Trump’s tax reform plan released earlier this year, tax law changes may include a reduction in tax rates for some individual [...]
Olivia Mitchell	2016-11-11T09:10:53+00:00	November 10th, 2016|BUSINESS TAX, INDIVIDUAL TAX, NOVEMBER 2016|Read More
The PATH Act: Providing A “Cornucopia” of Tax Savings	The PATH Act: Providing A “Cornucopia” of Tax SavingsIt seems like retailers just put up their back-to-school sale displays, which are already being replaced with Thanksgiving decorations. Before planning your Black Friday shopping strategies, consider a gift from Uncle Sam that will likely bear fruit for many tax years to come. The Protecting Americans from Tax Hikes (PATH) Act, which was signed into [...]
Kara Allen	2016-12-30T14:40:33+00:00	October 24th, 2016|INDIVIDUAL TAX, NOVEMBER 2016|Read More
Why Your Tax Vote Counts This Presidential Election	Why Your Tax Vote Counts This Presidential ElectionThe President of the United States leads our country on many fronts – international trade, immigration, and education to name a few. The President also dramatically influences the economy, especially through tax law. Those influences can have a major impact on us and on future generations. One example of the ability of a president to [...]
Kara Allen	2016-10-14T17:43:49+00:00	August 7th, 2016|INDIVIDUAL TAX, SEPTEMBER 2016|Read More
Busting 3 Common Individual Tax Return Myths	Busting 3 Common Individual Tax Return MythsNobody wants to be the target of an IRS audit. Fear of an audit leads taxpayers to believe in myths about what may or may not trigger the wrath of the IRS. Unfortunately, these misconceptions could potentially steer taxpayers toward greater audit risk and a higher tax bill. Below are three widespread individual tax return [...]
Olivia Mitchell	2016-11-14T16:05:43+00:00	July 19th, 2016|AUGUST 2016, INDIVIDUAL TAX|Read More
Avoid the Trap Set by AMT Triggers	Avoid the Trap Set by AMT TriggersThe Ambush - A Separate Tax Computation in the Form of AMT In addition to the normal tax calculation taxpayers make, there is a lesser known taxing system called the alternative minimum tax (AMT), which can increase your overall tax bill. Congress wanted to make sure that certain taxpayers weren’t able to avoid tax under [...]
Rachel Morse	2016-09-12T16:22:39+00:00	June 28th, 2016|INDIVIDUAL TAX|Read More
Recent Flooding Flows Deadline Extension to Houston Residents	Recent Flooding Flows Deadline Extension to Houston ResidentsThe Houston area has been designated a federal disaster area due to the flooding that began on April 17, 2016. Given this designation, the Treasury Department has offered tax relief to residents in specified Houston counties. The deadlines for certain federal tax payments and filings have been extended until September 1, 2016. Individual Taxpayers Payments [...]
Olivia Mitchell	2016-05-11T12:48:55+00:00	May 11th, 2016|BUSINESS TAX, INDIVIDUAL TAX|Read More
Three Strikes That Generate the Most Individual Tax Notices from the IRS	Three Strikes That Generate the Most Individual Tax Notices from the IRSBaseball season is in full swing in April of each year—around the same time as tax return filing deadlines. It also happens to be the season for the IRS starting its mailings of the millions of notices it issues every year. Of course, the last thing most of us want is to spend time responding [...]
Olivia Mitchell	2016-03-08T11:15:03+00:00	February 23rd, 2016|INDIVIDUAL TAX, MARCH2016|Read More
Charitable Contribution Documentation: Just Do It With an increase in charitable giving, the IRS has increased its focus on proper acknowledgement of donations and that charitable contribution documentation; specifically, cancelled checks and credit card statements are no longer acceptable receipts for tax purposes. Watch as Debbie Alexander and George Hawkins discuss adequate charitable contribution documentation for tax purposes and [...]
CRI	2016-07-27T09:40:49+00:00	February 2nd, 2016|INDIVIDUAL TAX, VIDEO|Read More
Navigating AMT and Your Tax Liability	Navigating AMT and Your Tax LiabilityThe alternative minimum tax (AMT) is a means that Congress adopted for ensuring that those who they believe should be paying taxes are paying taxes. It works by looking at deductions differently than Form 1040, which changes the amount of taxable income. This taxable income is then balanced by the exemption—ultimately determining whether the taxpayer must pay [...]
CRI	2016-03-04T22:45:46+00:00	October 25th, 2015|INDIVIDUAL TAX|Read More
Erase Outstanding Real Estate Debt with Cancellation of Debt Income	Erase Outstanding Real Estate Debt with Cancellation of Debt IncomeIs your investment, rental, residential or development property worth far less today than the outstanding debt you have on it? Depending on real estate market conditions, commercial lenders may forgive some or all of owed debt on a relinquished property. If this happens, then you may have to include the cancelled debt amount in income [...]
CRI	2016-03-04T22:49:48+00:00	October 25th, 2015|INDIVIDUAL TAX|Read More
8 IRS Changes Currently on the Radar	8 IRS Changes Currently on the RadarIRS headlines in recent months have encompassed a spectrum of issues from poor customer service to their upcoming areas of focus. The CRI team has pinged ahead for potential hazards so that we can position you accordingly. Read on for a quick update to get your bearings on the eight IRS changes that have made [...]
CRI	2016-03-04T22:55:18+00:00	October 25th, 2015|BUSINESS TAX, INDIVIDUAL TAX|Read More
3 Year-End Tax Tips Pumpkin spice season is upon us, and next thing you know we'll be frantically racing through the mall to complete our Christmas shopping lists. As you prepare for the holiday frenzy, don't forget to add "call your CPA" to your to-do list. Why? There are several planning strategies to execute year-end tax tips [...]
CRI	2016-07-28T11:12:49+00:00	October 5th, 2015|BUSINESS TAX, INDIVIDUAL TAX, VIDEO|Read More
Charitable Donation Documentation: 6 Answers to Know	Charitable Donation Documentation: 6 Answers to KnowWell, they say that it is better to give than to receive, so how about choosing both simultaneously—now? For most of us, the tax benefits that are part and parcel of charitable donations can be a crucial component of our decision to give. And it’s always important to remember that there are creative ways to contribute; [...]
CRI	2016-03-06T20:59:06+00:00	September 25th, 2015|INDIVIDUAL TAX|Read More
Grow Tax Savings by Bunching Itemized Tax Deductions with These 5 Simple Steps	Grow Tax Savings by Bunching Itemized Tax Deductions with These 5 Simple StepsWe all know that money doesn’t grow on trees, but we are also aware that we can strategically maximize our investments and savings. One strategy to maximize tax savings is by bunching itemized tax deductions. But how do you plant the seeds to take advantage of this strategy? In order to use any itemized deductions, the [...]
CRI	2016-03-07T16:01:29+00:00	August 1st, 2015|INDIVIDUAL TAX|Read More
Hire Your Kid for Dependent Child Tax Benefits. Seriously.	Hire Your Kid for Dependent Child Tax Benefits. Seriously.As a parent, you’re already the “boss” of your dependent children. But did you know that you can reap some significant dependent child tax benefits from hiring your child to work under you as an actual employee? And that’s not all. Your child benefits too – gaining valuable work experience, developing a strong work ethic, [...]
Rachel Morse	2016-04-14T20:44:17+00:00	July 8th, 2015|INDIVIDUAL TAX|Read More