Providing personalized tax, accounting and consulting services to Evergreen, Conifer and the greater metro area since 1992


Bequeathing an IRA

Properly designating your IRA beneficiary can be an important part of your estate plan. Otherwise your heirs may have to pay more income and estate tax than necessary. Read full post...


Home Sale Exclusion for Those in Nursing Homes

Most people are aware that taxpayers who have owned and used a home as their principal residence for at least two of the five years prior to the sale of the home can exclude up to $250,000 ($500,000 if married) of the gain on the sale.  But the IRS has relaxed the rules for those homeowners who can’t care for themselves and have moved to a nursing home. The length of use requirement is lowered to one out of five years preceding the sale in order to be able to take the exclusion. Read full post...


5 Easy Ways to Protect Yourself from Phone Scammers

Phone calls from telephone scammers claiming to be from the IRS are on the rise. While they may sound convincing, there are clear signs that they are not legitimate. The Internal Revenue Service released an alert with these telltale signs of a scam. The IRS will never:  Read full post...


New Form 1023-EZ Now Makes It Easier for Small Not-for-Profits to Apply for Tax- Exempt Status

At just two pages, this new application is far simpler than the regular 26-page Form 1023, but it does have certain requirements. Groups wishing to use the new Form 1023- EZ: Read full post...


FinCEN Form 114

FinCEN Form 114 is required of all U.S. Persons* with interests in or signature authority on foreign financial accounts with total value exceeding $10,000 at any time in 2013. This form supersedes the form TD F 90-22.1 (FBAR). Go to www.finCEN.gov/forms to access both the electronic filing site and instructions. Read full post...


Need an Automatic Extension of Time to File Your Returns?

Remember it is not an automatic extension of time to pay the tax that is due. The fed and all the states require that you estimate and pay the 2013 tax that is due when you file the extension. If payment of at least 90% of the actual final liability is not made with the return late payment penalties will be assessed, usually at a .5% per month rate. Interest expense will also be assessed on any payment made after the due date (even if the 90% penalty-free threshold is met). Read full post...



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