OneSource Professional Services Group

05/07/2013

Good information for planning ahead.

The IRS has released the inflation adjusted amounts for the annual contribution limitation for health savings accounts (HSAs) and the minimum and maximum annual deductible amounts for calendar year 2014.

05/02/2013

Excellent news -- Bikeshare is coming to Montgomery County!

05/02/2013

iPhone Backups -- Losing all that data is easily preventable.

Getting into a regular habit of backing up your phone at least once a week if not more is extremely important. Losing all that data is an easily preventable issue.

04/18/2013

A good reminder from CNN Money:

As Americans rush to donate to victims of Monday's Boston Marathon bombing, watchdog groups are warning of potential online scammers looking to profit from the tragedy.

04/18/2013

Good Info on Solutions for Tax Identity Theft and Tax Fraud

The AICPA suggested solutions at a hearing today of the Senate Finance Committee about what Congress could do to curb tax identity theft and tax fraud and offered tax reform recommendations focused on simplifying tax laws for families and businesses.

11/12/2012

Taxpayers can contribute up to $17,500 to their 401(k) plans in 2013.

The IRS released cost of living adjustments that will affect the dollar amount limitations for contributions to pension plans and other retirement items for 2013.

11/08/2012

Read this if you rent out your vacation home.

Generally, you will need to report income and expenses from the rental of your vacation home on your federal income tax return. But if you rent your home for only a short time each year, you may not have to report the rental income.

08/22/2012

Don’t assume that Congress will extend the Bush-era tax cuts that are set to expire at the end of 2012.Start preparing a plan now that you can put into action before year end if, in fact, the tax cuts do expire.

08/14/2012

Earlier this year, Citibank surprised many of its customers by issuing Forms 1099-MISC, Miscellaneous Income, to report the value of frequent flyer miles the customers had received in exchange for opening new accounts as part of an ongoing promotion.

08/14/2012

It is usually more beneficial for the family tax situation if the parents are able to claim the college student as a dependent on their tax return, since most students have little or no tax liability. Be aware that there are tests that must be met in order to qualify as a dependent when the student ...

08/13/2012

The Total Tax Insights calculator makes it easier to learn something every taxpayer should know: what you’re paying in taxes. The approximate figure of your tax bill generated with more than 20 taxes to consider may surprise you. But it also may help you think differently about a lot of things – fro...

08/10/2012

Children often aren’t getting much of an education about money from their parents, a survey commissioned by the AICPA shows. Three in 10 parents never talk to their children about money or have discussed money with their children just one time.