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Tax Accounting




Last year there were new tax law changes. 2012 didn’t see a ton of tax law changes, but there are several you need to be aware of. Let’s dive right in, shall we? *Source: Feuerhelm Langer, Ltd., a St. Paul CPA firm Write-offs. If you leased or financed used or new machinery or equipment during 2012, […]

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Virtually everything you possess and use for personal or investment purposes is a capital asset.  Capital assets include your home, household furnishings and stocks and bonds held in a personal account. When a capital asset is sold, the difference between the amount you paid for the asset and the amount you sold it for is […]

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Social Security numbers, initially created by the Social Security Administration in November 1935, the numbers were issued to help administer Roosevelt’s New Deal Social Security program, otherwise known as the Social Security Act. The purpose of the Act – coming out of the Great Depression – was to provide benefits to retirees, the unemployed, certain […]

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Have you been considering bartering lately because of the tightness of money? If so, have you given any thought to the correct tax treatment of bartered transactions? Although the Internal Revenue Service has a “Bartering Tax Center” on its website, after a cursory reading of the half dozen webpages devoted to its tax treatment, you […]

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From Roth account conversions to new requirements in  capital gain and loss reporting, there are several tax changes for the 2011 filing coming up. Here is a rundown of  ten changes that can be of possible advantage to you this tax cycle.  If you have any questions about these or other tax changes, call us. We’d be […]

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Should You Prepare Your Own Taxes? Should you fix your own car or plumbing? It seems you can’t go anywhere without seeing or hearing advertisements for the easiest, most cost effective and secure way to file your Federal Income Tax return. But how do you make the decision what way is best for you? Should […]

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