Tagged: income tax


2017 IRS Mileage Rates

Here Are The IRS 2017 Standard Business, Medical and Moving Mileage Rates

Posted: June 20, 2017

IRS Standard Mileage Rates For 2017 The Internal Revenue Service has recently issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or… Read more »

2016: IRS Warns & Updates Taxpayers of Numerous Tax Scams Nationwide: All Taxpayers, Tax and Financial Advisers Need To Read This

Posted: December 15, 2016

2016 Tax Scam Alert As tax season approaches, the Internal Revenue Service, in IR-2016-164,  has just reminded taxpayers to be on the lookout for an array of evolving tax scams related to identity theft and refund fraud. Every tax season, there is an increase in schemes that target innocent taxpayers by email, by phone and… Read more »

2016 IRS Launches New Online Tool to Assist Taxpayers with Basic Tax Account Information

2016 IRS Launches New Online Tool to Assist Taxpayers with Basic Tax Account Information: Do You Want To Know About Your IRS Account Balance?

Posted: December 06, 2016

IRS Online Tool The Internal Revenue Service announced on December 1, 2016 (IR-2016-155) the launch of an online application that will assist taxpayers with straightforward balance inquiries in a safe, easy and convenient way. This new and secure tool, available on IRS.gov allows taxpayers to view their IRS account balance, which will include the amount… Read more »

2016 Standard Mileage Rates for Business, Medical and Moving

2016 Standard Mileage Rates for Business, Medical and Moving

Posted: December 18, 2015

2016 Standard Mileage Rates for Business, Medical and Moving The Internal Revenue Service on December 18, 2015 issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2016, the standard mileage rates for the use of a… Read more »

2015 Tax Law Changes and FBAR Filing Deadlines & Other Noteworthy Compliance Provisions: The Good, The Bad & The Ugly

2015 Tax Law Changes Tax and FBAR Filing Deadlines & Other Noteworthy Compliance Provisions: The Good, The Bad & The Ugly

Posted: August 09, 2015

Overview of 2015 Tax Law Changes On Friday, July 31, 2015, President Barack Obama signed HR 3236, the “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015” (the “Act”). Not sure how this name relates to taxes but in any event the following tax law changes and provisions became law under this Act:… Read more »

year-end-tax-planning-for-business

2014 Year-End Tax Planning Guide For Businesses: Discover 9 Proven Tax Planning Strategies

Posted: December 26, 2014

Overview of 2014 Year-End Tax Planning The arrival of year-end presents special opportunities for most small businesses to take steps in lowering their tax liability. The starting point is to run projections to determine the income and tax bracket for this year and what it may be next year. Once this is known, decisions can… Read more »

Year-End Tax Planning

2014 Year End Tax Planning Tips: Instantly Discover What You Can Do Now To Start Saving Taxes Before Year End With Proven Tax Attorney Strategies

Posted: November 29, 2014

Overview of Year-End Tax Planning: As the year-end quickly approaches, there is still time to do year-end tax planning to generate significant tax savings. As many of you know, changes to the tax laws in 2013 made many tax rates (subject to cost of living adjustments) and certain tax breaks permanent. The President has signed… Read more »

Weddings: Quick and Easy Tax Guide For Those Getting Married and Newlyweds

Weddings: Quick and Easy Tax Guide For Those Getting Married and Newlyweds

Posted: July 14, 2014

Tax Planning For Those Getting Married and Newlyweds The excitement, joy and anticipation of getting married can be almost overwhelming. With the planning that goes into the wedding it is easy to overlook the tax implications of marriage. Although taxes are probably not high on your wedding plan checklist, it is important to be aware… Read more »

Gifting Family Home Is A Bad Tax Idea

The Biggest (Tax) Loser: Misguided Gifts of Real Estate By Uninformed Do It Your-Selfers, Realtors & Attorneys

Posted: January 10, 2014

The Really Bad Idea of Transferring Real Estate When You Are Older Can Result in Needless Income Taxes Being Paid By the Family With the increase of the federal estate tax exemption to $11,700,000 in 2021, most taxpayers are not subject to federal estate taxes. The focus for many now has shifted to the income… Read more »

Small Businesses: 8 Great Year-End Tax Planning Tips and Tricks: A Must Read

Small Businesses: 8 Great Year-End Tax Planning Tips and Tricks: A Must Read

Posted: December 22, 2013

Year-End Tax Planning For Businesses The arrival of year-end presents special opportunities for most small businesses to take steps in lowering their tax liability. The starting point is to run projections to determine the income and tax bracket for this year and what it may be next year. Once this is known, decisions can be… Read more »

Fraud Alert: Latest Reprehensible Tax and Financial Scam: Phony Charitable Contributions To Aid Typhoon Victims

Fraud Alert: Latest Reprehensible Tax and Financial Scam: Phony Charitable Contributions To Aid Typhoon Victims

Posted: November 19, 2013

Fraud Alert: Typhoon Haiyan The Internal Revenue Service has just issued a consumer alert about possible scams taking place in the wake of Typhoon Haiyan.  As most of us know, on Nov. 8, 2013, this typhoon known as Yolanda in the Philippines – made landfall in the central Philippines, bringing strong winds and heavy rains… Read more »

2013: Renewed Warning: IRS Tax Scam Alert and What To Do To Protect Yourself: Scary and Disturbing Tactics By Phony IRS Agents

Posted: November 02, 2013

2013 IRS TAX SCAM ALERT: PHONY IRS AGENTS The IRS just renewed its October, 2013 warning about a pervasive phone scam that continues to target people across the nation, including recent immigrants. The Treasury Inspector General for Tax Administration called it the largest scam of its kind. As of March 20, this tax division reported… Read more »

2013 Year End Tax Planning Strategies:

2013 Year End Tax Planning Strategies: Learn What Can Be Done Now To Save Taxes and Prevent Costly Mistakes

Posted: October 08, 2013

2013 Tax Planning Overview As the year-end quickly approaches, there is still time to do some year-end tax planning. This 2013 tax year will be tough on many taxpayers due to recent tax law changes and the uncertain future of tax reform. Basically, taxpayers will have to deal with the following recent tax law changes:… Read more »

Estate Planning: Now What? A Must Read For Everyone

Posted: January 13, 2013

Estate Planning Strategies We now know what the federal estate tax laws will be this year and in the future.  Our federal government has stated that these estate tax rules are now permanent after a decade of uncertainty.  (A cynic may say that these federal tax laws are permanent until our federal government says they… Read more »

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From their offices in Philadelphia, PA, the law firm of Steven J. Fromm & Associates, P.C. provides a full range of estate planning, probate and estate administration, tax, business and corporate legal services to clients throughout eastern Pennsylvania and the Delaware Valley, the Lehigh Valley Area, the Five-County Area, Bucks County, Delaware County, Montgomery County, Chester County, Philadelphia County, Berks County, Lehigh County, Lancaster County, York County, Harrisburg, Norristown, Doylestown, Media, West Chester, Allentown, Lancaster, and Reading.