Need to Know

In an effort to keep you up to date on current tax and financial developments we will present a timely summary of the latest information that we believe will have the greatest impact to you and your business.

If you have any ideas for future updates, we would like to hear from you.

New Key Numbers for 2013

All the numbers you need in one place including maximum retirement contributions including IRAs, standard mileage reimbursement, tax rates, estate and gift tax thresholds and more. Print this reference chart for use throughout the year.

New Taxes on the "Wealthy" for 2013

As you probably already know, taxes will be going up for wealthy taxpayers in 2013. While the American Taxpayer Relief Act increases the top tax rates on individuals with taxable income in excess of $400,000 ($450,000 for married taxpayers), there are also tax provisions in the Affordable Care Act, (Obamacare) that effect individuals with AGI (adjusted gross income) in excess of $200,000 ($250,000 for married taxpayers). Read article for details.

Bill Averts Fiscal Cliff Crisis: American Taxpayer Relief Act - January 2, 2013

The American Taxpayer Relief Act prevents many of the tax hikes that were scheduled to go into effect this year and retains many favorable tax breaks that were scheduled to expire. However, it also increases income taxes for some high-income individuals and slightly increases transfer tax rates. Read article for details.

Affordable Care Act (Health Care Act)

The July 2012 Supreme Court ruling upholding what's collectively referred to as the Affordable Care Act (ACA) or Health Care Act, often referred to as the Obamacare, has resulted in a number of changes to the US tax code. As such there are a number of tax implications for individuals and businesses. With that in mind, let's take a closer look at what it might mean for you. Learn more ...

Businesses

Individuals

Divorce, tax aspects
Gifts, are they taxable?
Higher Education, saving and paying for
Home office, telecommuters
Home office non-telecommuters
IRAs: Lifetime required minimum distributions from traditional IRAs for clients age 70 and above
Kiddie Tax Age Limit Change
Life Insurance Trust, do you need one?
Philadelphia Real Estate Tax Update
Ponzi schemes - deduction for losses
Retention of Tax Records
Secure your privacy by monitoring your credit status: Get a Free Copy of Your Credit Report
Social Security Benefits, when to start benefits
Refinancing your mortgage - is it time?

Bassman, Laserow, Adelman & Weiss, PC
630 Sentry Parkway East, Suite 200
Blue Bell, PA 19422
voice: 215-628-0420
fax: 215-628-3461
email: Bassman, Laserow
print: driving directions