Which Tax Extensions Will Affect Your 2014 Return?
Are You Ready for Your 2014 Taxes? Although many people might answer yes to that question, the fact is taxpayers can only do so much as long as Congress is dragging its feet on several expired tax extenders. The fact that these extenders are still sitting in limbo is nothing new. It happens almost every year, but time is running out to vote on them, which can be frustrating for taxpayers.
Congress extended several laws from 2013 into 2014, which was helpful to a lot of people. Now those same lawmakers need to decide which laws will stay and which laws will go. According to the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act Committee Report several tax provisions are under review for extension. They include:
- Tax-free distributions for charitable purposes from an individual retirement plan
- Mortgage debt forgiveness
- Deduction for state and local general sales taxes
- Mortgage interest premiums deduction
- Credit for energy efficient improvements of existing home
- Deduction for higher education expenses
- Expense deductions for elementary and secondary school teachers
How Congress decides to vote on these important deductions and credits could have a big impact on many taxpayers’ returns. Meantime, the fact that these are still in limbo makes it difficult to plan for the rest of the year. However, at GROCO we can help you get ready for the tax season no matter what. Just give us a call at 1-877-CPA-2006 or click here to contact us online.
Beware of Cryptocurrency Frauds
Does it seem like a new cryptocurrency is born each day? Digital coins are popping up continuously, with each hoping to be the next Bitcoin. While most cryptocurrencies will likely never reach the value of Bitcoin, some of them have no intention to. That’s because scammers are becoming more prevalent all the time in the cryptocurrency market.If you haven’t been paying attention, several agencies are starting to sound alarms. According to recent reports, The U.S. Commodity Futures Trading
When Is a Good Time to Get Into the Stock Market Game?
Anyone who has ever studied or even followed the stock market knows that market ebbs and flows. There will always be ups, and there will always be downs. That’s simply the nature of investing. If it were easy to predict then everyone would be successful and wildly wealthy.Last year saw amazing gains in the stock market, as a whole. However, this year, things have been heading in the other direction. Just last month the market saw some big dips, including a one-day loss on the Dow Jones of more
Five Tips for Staying Ahead of the Avalanche
I was talking to a coworker the other day about work. He responded that he felt swamped and work was descending upon him like an avalanche. Besides the over the top hyperboles, there are many that I have talked to that feel overwhelmed by their work and that’s not good.Stress can have negative effects on the body, mind, and spirit. Stress in one aspect of your life will often lead to more stress in other parts of your life. One real life example is Tiger Woods. It was very sad watching all parts
Selling globally: How to get started
Selling globally: How to get started For many businesses, selling their products or services globally is a natural next step in their growth. But while the prospect of billions of new potential customers is attractive, going global can be a daunting proposition. Here are a few tips on how to get started. Tap your network. …