Monthly Archives: October 2014

How Do I? Apply the Pease limitation

Higher-income individuals whose adjusted gross income (AGI) exceeds specified thresholds must reduce their itemized deductions that are otherwise allowed on their return. This reduction in itemized deductions did not apply to tax years 2010-2012, but has been reinstated, beginning in 2013. The provision does not apply to estates and trusts....
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Evaluating Your Internal Business Capabilities

Every business has internal elements that must be analyzed when you’re doing strategic planning.  You need to know how every area is operating now, so that you understand where you’re starting when you’re building your plan. There are two main categories of these internal elements.   Strategic (vision, strategy, structure)...
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Careful planning required for new ACA requirements on 2014 returns

The Affordable Care Act—enacted nearly five years ago—phased in many new requirements affecting individuals and employers. One of the most far-reaching requirements, the individual mandate, took effect this year and will be reported on 2014 income tax returns filed in 2015. The IRS is bracing for an avalanche of questions...
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Brainstorming Your Strategic Options

Strategic planning is a critical process for any business that intends to grow and increase profits. But it can be a big process that is overwhelming for you, when you’re already extremely busy. So we’ve put together a few steps that are easy enough to do, and can help you...
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