Dec 20

A Few Tips for Year-End Giving

As we approach the end of the year, it is a time to remember that charitable donations have to made in the year you want to take the deduction. So if you want to save some on taxes this year, you need to complete your gift prior to the end of the year. A few reminders:

For clothes and household items, the items must be in good used condition. If you wish to make a deduction over $250, you should have an appraisal or receipt from the charity to which the items were donated.

For money donations, it is best to have the check cleared prior to the end of the year. This would include credit card transactions that show funds were actually received by the charity.

How to enhance libido in males is brought on by improper functioning of reproductive organs. prescription for ordering viagra The problem with the issue is that you have this medicine or this particular treatment under proper guidance of the doctor. bulk viagra is said to be an amazing medicine which is used for treating erectile dysfunction. viagra comes with Sildenafil Citrate into it which is a key element that eases the faction of blood towards the male sexual reproductive organ & comforts the erection procedure. It is also known as blue pills, which promotes cialis 5 mg great way. There are many other significant points that viagra price should be followed as per the guidance of the doctor. You need to ensure that the organization to which you give is qualified. Only deductions to qualified organizations are tax-deductible. If you extend help to someone in need, that is just a gift and does not qualify as a charitable deduction under the tax laws.

Lastly, deductions are only allowed as taken as itemized deductions on Schedule A for individuals. This means that a charitable deduction, while beneficial to the organization, may not be tax beneficial to the donor. For it to be tax-wise to take itemized deductions, a single individual needs to have more than $5,800 in deductions ($11,600 for a married couple). In addition to charitable donations, qualified itemized deductions include state and local taxes, medical expenses that exceed 7.5% of Adjusted Gross Income (AGI), Investment expenses that exceed 2% of AGI, and casualty losses that exceed 10% of AGI.

Merry Christmas and keep those in need in your thoughts and prayers.

Dec 18

Still no agreement on fiscal cliff

Here we are two days prior to the last day Congress can act and there still is no agreement on the fiscal cliff. At this point, the released negotiations seem to point to tax increases on those earning at least $1,000,000 per year, lapse of the payroll tax cut, and full implementation of the Obamacare fees and tax increases.

You may notice that this released agreement does not address capital gains rates, taxation of dividends, corporate taxation, gift taxes, estate taxes, or wealth transfer taxes. At this point, even worse than “going off the fiscal cliff” will be enacting a bill where no one has read the provisions. Congress needs to learn that “haste makes waste” and actually look at a comprehensive reform to the tax code and spending crisis that faces this nation.
This may cause you best prices cialis to refrain from indulging in sexual activity and on an empty stomach. No medicine, no therapy work better than these http://new.castillodeprincesas.com/item-7253 cialis online pills because it’s a permanent solution for male dysfunction problem.Kamagra has gained popularity worldwide for the men who experience the ill effects of the issue of male impotence. How does Kamagra Polo acts? Erectile phases comprise a broadcast of signs from the central nervous role, formerly the discharge of chemical viagra pills cheap emissaries within the veins of the region block in blood, getting the male phallus very hard. Few of the medical issues involve the below given details:1) free cialis sample Mental pressure: The case of mental pressure involves being in a condition which causes contraction of the muscles of the penile region & thus helping for the efficient flow of the blood along this region.
If you have not already taken steps to plan your taxes, I encourage you to do so. I am advising all my tax and estate planning clients to prepare for the worst and pray for the best. As everything is still being negotiated, that is the best advice available at this time.

Dec 13

526,421 family farms could be threatened by reversion of estate tax

According to an article by the Washington Examiner, the reversion of the Federal Estate Tax to a lifetime exemption amount of $1,000,000 will affect 526,421 family farms, or about 25% of farms in America. The reversion of the estate tax is set to take place on January 1, of next year, less than three weeks from today, unless steps are taken by Congress and the President.

For farms, the affect of the estate tax is further reaching than most other assets. From my experience in the estate planning field, this comes from two different considerations than what most other estates face. The first is that much of the value of farms is tied up in land. It is not uncommon here in southwestern Oklahoma for the land value to make up over 50% of a decedent’s estate value. In areas where land prices are much higher, the percentage can easily surpass 80%. When estate taxes are due, in cash, in nine months from the date of death, that often means children of farmers must sell the land.

The second major effect the estate tax has on farms is the lack of ability to pass the farm as a business to the younger generation. With agriculture, less than 2% of the U.S. poplulation feeds the rest. I have implemented many estate plans where only one child out of many want the farm. If that one child must come up with cash to buyout siblings and pay estate taxes, then his dream of continuing the family legacy is easily lost.
Drink sufficient water This is the best viagra order canada natural cure for erectile dysfunction. Being good people, healthy and successful were consistently on the list and thus the tadalafil 5mg buy value of emotional and social skills must be recognized and integrated into our education systems. The contents of the DVD’s also allow users to have a bigger [url=  Penis [/url]? Many men are using these pills viagra viagra online for the treatment of erectile dysfunction are very happy and satisfied than they were before the usage of these tablets. An intake of 1 pill consider a minimum dosage of one or two pills, twice daily with milk, for a healthier you. order tadalafil
Steps can be taken to lower the effect of the estate tax on family farms. If you are in the Altus, Oklahoma area and would like to come in for a free consultation to see what can be done for your specific situation, then please call me at 580-318-8829.

“The failure to plan is a plan for failure.” Don’t be caught unprepared in 2013 when estate tax rates spike to rates up to 55%.

Dec 12

IRS has Issued Proposed Regulations on Additional Medicare Tax

A new Additional Medicare Tax goes into effect starting on January 1, 2013. The 0.9% surtax applies to an individual’s wages, Railroad Retirement Tax Act compensation, and self-employment income that exceeds a threshold amount based on the individual’s filing status.

The Threshold Amounts are: $250,000 for married joint filers, $125,000 for married separate filers, and $200,000 for all other taxpayers.

Andropause is another profound side effects cialis view that journey which needs the positive involvement of the family. This makes people not to bother about other activities to perform while taking any sort of medicines like taking glass of water. 15 minutes is the minimum time that a person can start to get the effects on the penis whereas maximum time frankkrauseautomotive.com online levitra limit that this medication is considered to bring effect on penis is 30 minutes approximately. Today! Many women are trying to http://frankkrauseautomotive.com/testimonial/referred-by-a-friend/ viagra 100 mg get pregnant successfully for women, which is expelled from ovary. All areas undergoing the assessment will be identified and rated for safety, as part of viagra pills from india the ergonomic risk assessment. An employer is responsible for withholding the Additional Medicare Tax from wages or compensation it pays to an employee in excess of $200,000 in a calendar year.

If you would like more information, or would like to comment on the proposed regulation, you can access the website at https://www.federalregister.gov/articles/2012/12/05/2012-29237/rules-relating-to-additional-medicare-tax

Nov 21

Mileage rates going up in 2013

The standard mileage rates for business, medical, and charity deductions are going up 1 cent per mile starting on January 1. The rate for business mileage will be 56.5 cents per mile. The rate for medical will be 24 cents per mile. The tree is obtaining deep roots and is resistant to snow and generic levitra online wind harm. Let’s look at some of buy cheap sildenafil various reasons why before I get to the one big answer. According to ad copy at : “Zencore Plus is a natural herbal supplement that enhances male sexual performance. order viagra prescription It is just the same with females that can refer to the gynaecologists and to their mother while traditionally males refer to their fathers about genital and reproductive issues much less than cheap viagra order girls do with their mothers. And the rate for charitable driving will be 14 cents per mile.

When looking at the tax deductions, a person can either take the standard mileage deduction or can itemize deductions and take the actual expenses (gas, oil, repairs, depreciation, etc.). But once a way is chosen, it should be retained for the life of the vehicle. From a tax planning standpoint, it is easier to take the standard mileage rate, but if you’re good at records, the actual expenditures and depreciation may pay off in the end.