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Tax advice articles and tax strategies for individuals, employees, and small business owners. |
Paperless record keeping of financial and tax records |
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20 February 2010 |
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Many people receive or can download bank statements and other financial documents in an electronic format, typically portable document format or pdf. This method is an efficient way to secure financial records, important tax records such as W-2’s, 1099's, tax returns and other paper documents can be scanned into an electronic format. Copper Canyon Tax and Financial Services can provide you with a pdf copy of your tax return.
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Have you received a notice from the IRS? |
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01 January 2010 |
Have you received a notice from the IRS? What should you do?
If you received a notice of any kind from the IRS, open it, read it, and do something about it.
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Roth IRAs, is this a good place to put your money? |
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14 December 2009 |
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Roth IRAs can be more beneficial than other retirement accounts because qualified distributions are not taxable, and you don't have to take required minimum distributions when you reach the age of 70½.
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Excercising an Incentive Stock Option (ISO)? |
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30 November 2009 |
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In general, when you buy stock by exercising an incentive stock option (ISO) and don’t sell that stock in the same year, you could be subject to AMT. For regular tax purposes, no income is recognized when an ISO is exercised.
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0-Percent Capital Gains Rate |
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23 November 2009 |
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If you have owned stock with a low basis for more than a year and think the stock will continue to go up in value, now may be the time to sell it if all of the gain on the sale falls within the 10- or 15-percent income tax brackets.
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What To Do if Your Identity Has Been Stolen |
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24 September 2009 |
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If you're a victim of identity theft, the Federal Trade Commission (FTC), the nation's consumer protection agency, recommends that you take the following four steps as soon as possible, and keep records of your conversations and copies of all correspondence.
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Check Your Credit Report For Free |
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24 September 2009 |
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There is no need to pay a fee to obtain your credit report. Order a free credit report annually from each of the major credit bureaus: Equifax, Experian, and TransUnion.
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24 September 2009 |
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The battle to keep credit card offers out of your mailbox is not a lost cause. Most of those are "pre-approved," meaning they get information on your creditworthiness before sending the pitch.
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Does Filing My Tax Return Early Make Sense? |
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24 September 2009 |
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Although individual income tax returns don't have to be filed until April 15, taxpayers who file early get their refunds a lot sooner. The IRS begins accepting returns in January but does not starting processing returns until February. Determining whether to file early depends on various personal and financial considerations.
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24 September 2009 |
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Federal income is a pay-as-you-go system. Unless the total tax shown on the taxpayer’s return minus the amount paid through withholding will be less than $1000.00, the taxpayer generally must make quarterly estimated tax payments.
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