St. Petersburg CPA
& Tax Advisor
Since 1989
& Tax Advisor
Since 1989
727-328-2900
Tax Tips
Tax Tips are not a substitute for legal, accounting, tax, investment or other professional advice. Always consult with your trusted accounting advisor before acting upon any Tax Tip.
FEBRUARY 2010 TAX TIPS
[Previous Tax Tips]
[Previous Tax Tips]
Giving Gifts of Property to Charity
Avoid tax pitfalls on noncash donations
Despite recent changes requiring stricter substantiation of monetary gifts to charity, the tax rules are pretty straightforward when you write out a check or charge a donation by credit card. In general, you can deduct the full amount of your charitable donation in the year in which you make the gift. [continue]
Facing Options on an Inherited IRA
Several choices available to beneficiaries
Did you recently inherit a traditional IRA? The tax rules in this area can be perplexing, especially since you are likely to be emotional over the passing of a loved one. Take a deep breath and consider the options. [continue]
Do You Need Extra Time to File?
Due to your personal circumstances, you may not be able to complete your 2009 federal tax return on time. But fear not: You can still request a filing extension. [continue]
Seize More Control Over Your Business
Six areas for business owners to focus on
Without the proper "controls" in place, a small business can struggle or go under, especially in this tough economy. Although there are no guarantees, the following are basic guidelines to follow in six areas: [continue]
Computer Protection: Call a Traffic Cop
Install network firewall to filter Internet data
Security is increasingly becoming a major component of running a small business. This need has been complicated by technological advances in recent years. In particular, you cannot run the risk that unscrupulous computer hackers might "steal" your company's proprietary information. [continue]
Facts and Figures
Timely points of particular interest
*Tax Formula--The tax law does not allow medical deductions for expenses that benefit an individual's general health [continue]
TAX ADVICE DISCLAIMER: In accordance with IRS Circular 230, any tax advice included in this communication, including attachments, is not intended or written to be used, and cannot be used by you or any other person or entity, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions, nor may any such advice be used to promote, market or recommend to another party any transaction or matter addressed within this communication. If you would like such advice, please contact us.
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