There are a few changes that may affect individuals and small business owner in this upcoming tax season. The following checklist outlines these changes and provides a short description of what that change means. Click anywhere on the checklist to get a closer view. Of all these changes, the one that will hurt our pockets immediately is the elimination of the Making Work Pay Credit. That credit is no longer available for 2011, in the [...]

Have you ever wondered how your tax preparer comes up with the end result of the taxes owed or refund due on your tax return? Well, one very important factor is the Standard Deduction or Itemized Deductions. All taxpayers have the option of either taking the standard deduction or itemizing their receipts on their tax return. If you itemize it’s because you paid out real estate taxes, property taxes, medical & dental expenses, and a [...]

Se acerca ese tiempo horrible del año, la temporada de impuestos!! Hemos tenido mucha duda con esta temporada de impuestos porque muchos créditos y leyes de impuestos que estaban en vigencia durante la época de Bush se expiraban en el 2010 y aunque algunos créditos fueron extendidos, muchos de ellos no fueron. Como una profesional en preparación de impuestos, siento que es mi deber educar al publico en tales cambios, y por lo tanto, durante [...]

It’s getting close to that dreadful time of year, tax season!! There has been a lot of doubt with this upcoming tax season because a lot of the tax credits and laws that were in place during the Bush era were due to expire in 2010 and although some were extended, many were not. As a tax professional I feel it’s my duty to educate the public on such changes, therefore, during this week I’m [...]

I’m staying at The Kahler Grand Hotel in Rochester, MN for business and the first thing you see when you enter the lobby is this huge, larger than life-sized gingerbread house. I’m talking about big. It takes up most of the lobby space!! The dimensions of the house is 8 1/2 feet wide, 12 feet long and 16 feet tall at the peak of the chimney. That’s tall!!!!!!! It has over 3,600 gingerbread bricks on [...]