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Dear Tax Payer, Recently the IRS release several small business related tax relief revenue procedures for 2014 and 2015. Please read the article below and consult with your tax advisor or give us a call at 630-841-9675 if you wish to discuss any of these in detail. Sincerely, Dean Holland, CPA President Recent Small Business…
DetailsDear Tax Payer, An improved economy, strengthened real estate market in many areas, and a favorable interest rate environment has led to a resurgence of interest in vacation or second homes. These properties offer a chance to provide the family with a place to rest and relax at a reduced cost when compared to expensive…
DetailsDear Tax Payer, An improved economy, a strengthened real estate market in many areas, and a favorable interest rate environment has led to a resurgence of interest in vacation or second homes. These properties offer a chance to provide the family with a place to rest and relax at a reduced cost when compared to…
DetailsDear Client, On Dec. 16, 2014, Congress passed the “Tax Increase Prevention Act of 2014” (TIPA, or “the Act”), which the President recently signed into law. As explained in this Special Study, the Act extends through 2014 a host of depreciation and expensing provisions for businesses that had expired at the end of 2013, including…
DetailsDear Client, On Dec. 16, 2014, Congress passed the “Tax Increase Prevention Act of 2014,” (TIPA, or “the Act”), which the President recently signed into law. As explained in this Special Study, the Act extends a host of individual tax provisions, including the above-the-line deductions for higher education expenses and educators’ expenses, deductions for state…
DetailsDear Client, On Dec. 16, 2014, Congress passed the “Tax Increase Prevention Act of 2014” (TIPA, or “the Act”), which the President has recently signed into law. As explained in this Special Study, the Act extends a host of tax breaks for businesses, including the research credit, the new markets tax credit, the employer wage…
DetailsDear Client, Year-end tax planning is especially challenging this year because Congress has yet to act on a host of tax breaks that expired at the end of 2013. Some of these tax breaks may be retroactively reinstated and extended, but Congress may not decide the fate of these tax breaks until the very end…
DetailsDear Tax Payer, If you are turning 70 1/2 in 2015 and have IRA’s or qualified retirement plans, the article below is a must read. Once again, please feel free to contact our office to discuss your personal tax situation. Sincerely, Dean R. Holland, CPA President, Holland & Company CPAs Should Taxpayers Attaining Age 70…
DetailsDear Tax Payer, If you are faced with retirement and/or separation of employment prior to your normal retirement age (65 or 66 for most of us) and have a situation where you must acquire health insurance prior to being eligible for medicare and have a 401 (k) rollover opportunity, then the article below may be of interest…
DetailsDear Tax Payer, As the end of 2014 approaches, so does your last chance to utilize your IRA accounts for an interest-free and tax-free loan to help fund a property investment or other opportunity where short-term funding is required. The article below provides more details how to best utilize IRAs. Sincerely, Dean R. Holland, CPA…
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