http://kccompany.com/ Take a look at our recent blog posts and client newsletter articles. en-us Tue, 01 May 2012 09:00:00 -0500 Tue, 01 May 2012 09:00:00 -0500 http://www.kccompany.com/newsletter.php#2 If you're cringing because you haven't filed a 2011 tax return yet, don't worry. It's not too late, and it's not as hard as you may think. Tue, 01 May 2012 09:00:00 -0500 http://www.kccompany.com/newsletter.php#2 http://www.kccompany.com/newsletter.php#4 Would you like to legally deduct every dime you spend on vacation this year? The five strategies outlined in this article will show you how. Tue, 01 May 2012 09:00:00 -0500 http://www.kccompany.com/newsletter.php#4 http://www.kccompany.com/newsletter.php#1 When you hire someone to work around the house or baby-sit your children, do you need to pay tax for them? Keep reading to find out. Tue, 01 May 2012 09:00:00 -0500 http://www.kccompany.com/newsletter.php#1 http://www.kccompany.com/newsletter.php#3 Tue, 01 May 2012 09:00:00 -0500 http://www.kccompany.com/newsletter.php#3 http://www.kccompany.com/blog.php?id=27 You may need to pay estimated taxes to the IRS during the year if you have income that is not subject to withholding. This depends on what you do for a living and the types of income you receive. Wed, 04 Apr 2012 09:00:00 -0500 http://www.kccompany.com/blog.php?id=27 http://www.kccompany.com/blog.php?id=26 CSome employees may be able to deduct certain work-related expenses. The following facts from the IRS can help you determine which expenses are deductible as an employee business expense. You must be itemizing deductions on IRS Schedule A to qualify. Tue, 20 Mar 2012 09:00:00 -0500 http://www.kccompany.com/blog.php?id=26 http://www.kccompany.com/blog.php?id=25 Parents may not realize that there are tax rules that may affect their child's investment income. The IRS offers the following four facts to help parents determine whether their childâ??s investment income will be taxed at the parentsâ?? rate or the child's rate. Fri, 16 Mar 2012 09:00:00 -0500 http://www.kccompany.com/blog.php?id=25 http://www.kccompany.com/blog.php?id=24 Each year, millions of taxpayers choose whether to take the standard deduction or to itemize their deductions. The following seven facts from the IRS can help you choose the method that gives you the lowest tax. Mon, 05 Mar 2012 09:00:00 -0600 http://www.kccompany.com/blog.php?id=24 http://www.kccompany.com/blog.php?id=23 A tax credit is a dollar-for-dollar reduction of taxes owed. Some tax credits are refundable meaning if you are eligible and claim one, you can get the rest of it in the form of a tax refund even after your tax liability has been reduced to zero. Here are four refundable tax credits you should consider to increase your refund on your 2011 federal income tax return: Fri, 02 Mar 2012 09:00:00 -0600 http://www.kccompany.com/blog.php?id=23 http://www.kccompany.com/blog.php?id=22 Did you know that almost everything you own and use for personal or investment purposes is a capital asset? Capital assets include a home, household furnishings and stocks and bonds held in a personal account. When you sell a capital asset, the difference between the amount you paid for the asset and its sales price is a capital gain or capital loss. Wed, 22 Feb 2012 09:00:00 -0600 http://www.kccompany.com/blog.php?id=22 http://www.kccompany.com/blog.php?id=21 Taxpayers may sometimes find themselves in situations when they need to withdraw money from their retirement plan early. What they may not realize is that that transaction may mean a tax impact when they file their return. Here are 10 facts from the IRS about the tax implications of an early distribution from your retirement plan. Wed, 22 Feb 2012 09:00:00 -0600 http://www.kccompany.com/blog.php?id=21 http://www.kccompany.com/blog.php?id=20 If you, your spouse or dependents had significant medical or dental costs in 2011, you may be able to deduct those expenses when you file your tax return. Here are eight things the IRS wants you to know about medical and dental expenses and other benefits. Tue, 14 Feb 2012 09:00:00 -0600 http://www.kccompany.com/blog.php?id=20 http://www.kccompany.com/blog.php?id=19 Before you file your 2011 federal income tax return in 2012, you should be aware of a few important tax changes that took effect in 2011. Check www.IRS.gov before you file for updates on any new legislation that may affect your tax return. Thu, 09 Feb 2012 09:00:00 -0600 http://www.kccompany.com/blog.php?id=19 http://www.kccompany.com/blog.php?id=18 Many people may not realize the Social Security benefits they received in 2011 may be taxable. All Social Security recipients should receive a Form SSA-1099 from the Social Security Administration which shows the total amount of their benefits. You can use this information to help you determine if your benefits are taxable. Here are seven tips from the IRS to help you Wed, 08 Feb 2012 09:00:00 -0600 http://www.kccompany.com/blog.php?id=18 http://www.kccompany.com/blog.php?id=17 Here are six key points the IRS would like you to know about self-employment and self- employment taxes. Wed, 25 Jan 2012 09:00:00 -0600 http://www.kccompany.com/blog.php?id=17 http://www.kccompany.com/blog.php?id=16 IRS e-file: Itâ??s safe. Itâ??s easy. Itâ??s time. Most taxpayersâ??nearly 80 percent-- file electronically. If you havenâ??t tried it, now is the time! The IRS has processed more than 1 billion individual tax returns safely and securely since the nationwide debut of electronic filing in 1990. In fact, last year, 112 million people â?? 78 percent of all individual taxpayers â?? used IRS e-file to electronically transmit their tax returns to the IRS. The number of people who use a paper tax return or who mail a tax return dwindles each year â?? and for good reason . Tue, 17 Jan 2012 09:00:00 -0600 http://www.kccompany.com/blog.php?id=16 http://www.kccompany.com/blog.php?id=15 Even though each individual tax return is different, some tax rules affect every person who may have to file a federal income tax return. These rules include dependents and exemptions. The IRS has six important facts about dependents and exemptions that will help you file your 2011 tax return. Wed, 11 Jan 2012 09:00:00 -0600 http://www.kccompany.com/blog.php?id=15 http://www.kccompany.com/blog.php?id=14 The income tax filing season has begun and important tax documents should be arriving in your mailbox. Even though your return is not due until April, you can make tax time easier on yourself with an early start. Here are the Internal Revenue Serviceâ??s top 10 tips to ensure a smooth tax-filing process. Tue, 03 Jan 2012 09:00:00 -0600 http://www.kccompany.com/blog.php?id=14 http://www.kccompany.com/blog.php?id=13 The IRS wants to remind all taxpayers that with the New Year fast approaching, there is still time for you to take steps that can lower your 2011 taxes. However, you usually need to take action no later than Dec. 31 in order to claim certain tax benefits. Wed, 21 Dec 2011 09:00:00 -0600 http://www.kccompany.com/blog.php?id=13 http://www.kccompany.com/blog.php?id=12 If you make a donation to a charity this year, you may be able to take a deduction for it on your 2011 tax return. Here are the top nine things the IRS wants every taxpayer to know before deducting charitable donations. Mon, 22 Aug 2011 09:00:00 -0500 http://www.kccompany.com/blog.php?id=12 http://www.kccompany.com/blog.php?id=11 The Internal Revenue Service has some important information to share with individuals who have sold or are about to sell their home. Mon, 08 Aug 2011 09:00:00 -0500 http://www.kccompany.com/blog.php?id=11 http://www.kccompany.com/blog.php?id=10 If you have too little federal tax withheld from your pay, you could end up owing a lot of money when you file your taxes. If you withhold too much, you will get a large refund next year, but that means you gave up the use of your money for several months during the year. Mon, 18 Jul 2011 09:00:00 -0500 http://www.kccompany.com/blog.php?id=10 http://www.kccompany.com/blog.php?id=9 Along with the lazy, hazy days of summer come some extra expenses, including summer day camp. But, the IRS has some good news for parents: those added expenses may help you qualify for a tax credit. Wed, 06 Jul 2011 09:00:00 -0500 http://www.kccompany.com/blog.php?id=9 http://www.kccompany.com/blog.php?id=8 This year, you have a few extra days to make contributions to your traditional Individual Retirement Arrangements. ThatÃ?¢??s because Emancipation Day, a legal holiday in the District of Columbia, will be observed on Friday, April 15, 2011, which moves the due date for filing your tax return and making contributions to your 2010 IRA to Monday, April 18, 2011. Mon, 28 Mar 2011 09:00:00 -0500 http://www.kccompany.com/blog.php?id=8 http://www.kccompany.com/blog.php?id=7 Here is some information from the IRS about a special tax deduction for the self-employed.You may be able to deduct premiums paid for medical and dental insurance and qualified long-term care insurance for you, your spouse, and your dependents. Mon, 14 Mar 2011 09:00:00 -0500 http://www.kccompany.com/blog.php?id=7 http://www.kccompany.com/blog.php?id=6 If you paid someone to care for your child, spouse, or dependent last year, you may be able to claim the Child and Dependent Care Credit on your federal income tax return. Tue, 08 Mar 2011 09:00:00 -0600 http://www.kccompany.com/blog.php?id=6 http://www.kccompany.com/blog.php?id=5 You may be eligible for a tax credit if you make eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement. Sat, 26 Feb 2011 09:00:00 -0600 http://www.kccompany.com/blog.php?id=5 http://www.kccompany.com/blog.php?id=4 Ten facts from the IRS about gains and losses and how they can affect your Federal income tax return. Fri, 18 Feb 2011 09:00:00 -0600 http://www.kccompany.com/blog.php?id=4 http://www.kccompany.com/blog.php?id=3 Several Tax Breaks Extended for 2010 Mon, 14 Feb 2011 09:00:00 -0600 http://www.kccompany.com/blog.php?id=3