14 March 2013
Refunds totaling just over $917 million may be waiting for an estimated 984,400 taxpayers who did not file a federal income tax return for 2009, the Internal Revenue Service announced today. However, to collect the money, a return for 2009 must be filed with the IRS no later than Monday, April 15, 2013.

19 January 2013

• Standard deduction for 2012 is $5,950 ($11,900 for married couples filing jointly, $8,700 for head of household)
• Personal exemption is $3,800
• Business mileage is 55.0 cents per mile; volunteer mileage is 14.0 cents per mile; 23.0 cents per mile for medical purposes

15 January 2013
The Internal Revenue Service today announced a simplified option that many owners of home-based businesses and some home-based workers may use to figure their deductions for the business use of their homes. The new deduction is for the 2013 tax year and is capped at $1,500.  Click the title for more information. 

11 January 2013
Lots to be said and written about this one.  Here are some of the basics:  1) a new tax rate of 39.6 percent has been added for individuals whose income exceeds $400,000 ($450,000 for married taxpayers filing a joint return) 2) The standard deduction rises to $6,100 ($12,200 for married couples filing jointly), up from $5,950 ($11,900 for married couples filing jointly) for tax year 2012 3) Changes to the Alternative Minimum Tax, Earned Income Credit (EIC) and Estate Tax.

Contact Karen or Shelli for More Information

8 January 2013

The IRS has pushed back the start of electronic filing to January 30, 2013.  For more information, click the title.

January 2013
Lots of change in this one that affects anyone with employees.  Social security tax rate increases from 4.2% to 6.2%.  Social security wage base limit increases to $113,700.  Then there is the additional medicare tax withholding - too complicated to summarize here.  For more info, click the title or contact Karen or Shelli.

22 November 2012
On page 20 of this edition of the Laconia Sun, read about Budget Tax Service and More joining five other new businesses on Gilford East Drive. 

21 November 2012
Does your business use the standard mileage rates set by the Federal Government?  If so, you should know that the business mileage rate increased by one cent to 56.5 cents per mile.  Other mileage rates changes as well; click the title for more information.