2012 Tax Tips

* Best Tax Tips * Our deficit is now up to 14 trillion dollars and our country is spending double what it brings in from income tax revenue- taxes have no where to go but up. Shelter what you can now by using vehicles such as: Roth IRAs Employer plans Fixed annuities as a substitute [...]

Tax Business Do’s and Dont’s

Tax Business Do’s and Dont’s by Mary Malazita As a CPA, I handle all of our business mowners that are incorporated as corporations and partnerships; however I do not meet with everyone who is self-employed and files a Schedule C.  As a sole proprietor, there are many ways that you can minimize your tax liability.  [...]

Are You Getting a Tax Refund or Writing a Check?

Are You Getting a Tax Refund or Writing a Check? Posted on February 2, 2011   Do you know if you will be getting a refund or have to write a check for your 2010 tax return? As a working professional responsible for bills, savings, and other’s it is very beneficial to know if you will [...]

10 Common Tax Write Offs

10 Common Tax Write Offs Posted on February 4, 2011 Remembering those important deductions can seriously help you come tax time.  Here’s a list of 10 Common Tax Write Offs that you shouldn’t forget. Educational Expenses – These are eligible in the case of career advancement or job improvement.  Student Loans & Home Loan Interest Casualty [...]

Dinner & Taxes in Phoenixville, PA

Dinner & Taxes in Phoenixville, PA Posted on February 11, 2011 That’s right, we said it “Dinner & Taxes”… probably not how you will spend Valentine’s Day on Monday, February 14th., but we can hope!  Need a reason to head to Phoenixville or make your way into town? Take our advice on dinner  and taxes in Phoenixville, PA! Phoenix Tax [...]

TurboTax vs. CPA Firms

TurboTax vs. CPA Firms Originally Posted on February 15, 2011   It’s a question that plagues all of us as Tax time approaches.  Which method is better?  What are some Pros and Cons?  Certainly both have their individual benefits.  Let’s make some considerations on both ends, as we delve into the choice to use one over [...]

2010 Homebuyers Beware

2010 Homebuyers Beware Posted on February 21, 2011 Buying a Home is an exciting prospect and an important decision, but like all important decisions it should be measured with gainful knowledge for informed decision making.  An educated buyer can avoid the pitfalls from predatory lending practices that promise short term gains.  Remember important dates, know your [...]

Avoiding the IRS? Is it Possible?

Avoiding the IRS? Is it Possible? Posted on February 23, 2011 It’s not a good idea.  Don’t risk it.  You’ve see the number of recognizable celebrities such as Red Foxx, and Wesley Snipes with thousands if not millions owed to the IRS.  No one can fly under the radar.  It’s not worth the risks involved. As [...]

Family Matters: The Dependent

Family Matters: The Dependent Posted on March 1, 2011 Dependants are described by the Internal Revenue Service as “…a qualifying child or a qualifying relative.” and by this definition there can only be two categories of qualifying individuals that rank for the dependency exemption described by the IRS: children and/or any relative of qualifying exemption.  [...]

Emanicpation Day Pushes Tax Deadline

Emanicpation Day Pushes Tax Deadline Posted on March 23, 2011 In history class, we read about the Emancipation Proclamation.   As adults we are reminded of that history class as it is now honored as a holiday. This holiday will be observed on April 15, 2011 which is pushing back the tax deadline until April 18th, 2011. A sigh [...]