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In 2013, What Are The Tax Laws Regarding Long Term Capital Gains?
User Photo William Keats
Tax Professional Level: Master Tax Advisor

The capital gains tax rate is increased to 20% for 2013. The prior year was 15%. As far as the home is concerned, if you sell or plan to sell this year, and you file a joint return, the first $500,000 of profit...   Read More
If One Spouse Is A First Time Home Buyer And The Other Spouse Is A Second Time Home Buyer, Can We Take A First Time Home Buyer Credit?
User Photo John Dundon, II EA
Tax Professional Level: Tax Wizard

It depends on how long ago the 'other spouse' sold the first house but generally no.   Read More
I Live In Michigan But Travel For Work To Other States. Sometimes I Am In The Same Region For Over A Year. If I Were To Rent An Apartment...
User Photo John Dundon, II EA
Tax Professional Level: Tax Wizard

This is a loaded question for sure. Your primary residence is in Michigan. You are self employed and travel outside of Michigan regularly and consistently - sometimes to the same area - should you rent an...   Read More
It Is My Understanding That The IRS Is Giving Relief From Late Payment Tax Penalties To Individuals And Businesses That Request A Tax...
User Photo Trenna Morris
Tax Professional Level: Tax Enthusiast

Penalty Relief for Delayed 2012 Forms can be found at this web address: http://www.irs.gov/pub/irs-drop/n-13-24.pdf Here is the list of delayed 2012 forms: EXHIBIT 1 – Delayed 2012 forms (available in...   Read More
Is It Possible To Track The Status Of An IRS Amended Tax Return?
User Photo Kathryn Morgan
Tax Professional Level: Master Tax Advisor

It is now. The IRS just opened a new page that allows you to check the status of your amended return. Here is a link; http://www.irs.gov/Filing/Individuals/Amended-Returns-(Form-1040-X)/Wheres-My-Amended-Return-1.   Read More
I Just Received A Notice From My Health Insurance Company On The Affordable Care Act (ACA) Which Calls For Taxes To Be Paid By Health Care...
User Photo Trenna Morris
Tax Professional Level: Tax Enthusiast

The Health Coverage Tax Credit (HCTC) is available for you, if you meet the general requirements that will help save you money through out the year by paying 27.5% of your health coverage premiums for you. You must...   Read More
I`ve Been Informed The Current CSL (Compulsory Superannuation Levy) Has Increase This Year Already Is That Correct? Can Someone Clarify...
User Photo Anthony Campisi
Tax Professional Level: Tax Enthusiast

My understanding is that on July 1, 2013, the first of the proposed incremental increases to Superannuation will come into effect. The change will lift the Superannuation Guarantee charge rate to 9.25% for the 2013/...   Read More
Is The Upper Age Limit For Super Contributions Changing This Financial Year?
User Photo Anthony Campisi
Tax Professional Level: Tax Enthusiast

From July 1, 2013, the upper age limit for Superannuation contributions will be abolished. Therefore employers will be required to contribute to the complying super funds of eligible mature age employees aged 70...   Read More
What Tips Can You Provide That Will Help Me Prevent Identity Theft During Tax Time?
User Photo Kelly Estep
Tax Professional Level: Tax Enthusiast

if your using an online tax service from home...do some research on the company, if you pick one, make sure it's a secure site....If you go to a tax pro...again, check with the BBB if you have a question, or go to...   Read More


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