Tax Pro Plus
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Los Angeles, CA 90064
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- What to Do If You Are Missing a W-2
- Have you received all of your W-2s? These documents are essential for completing individual tax returns. You should receive a Form W-2, Wage and Tax Statement, from all of your employers each year. Employers have until January 31st to provide or send you a 2012 W-2 earnings statement, either electronically or in paper form. If you have not received your W-2, follow these steps:
- Direct Deposit Puts Your Money in Your Pocket...Faster
- Don’t wait around for a paper check. Have your federal (and state, if applicable) tax refund deposited directly into your bank account. Selecting Direct Deposit is a secure and convenient way to get your money into your pocket more rapidly.
- Prepared for the New Surtax?
- As part of Obama Care, we have a new tax beginning in 2013. The official name of this tax is the “Unearned Income Medicare Contribution Tax,” and even though the name implies it is a contribution, don't get the idea you deduct it as a charitable contribution. It is, in actuality, a surtax levied on the net investment income of higher-income taxpayers.
- Ready For a Take-Home Pay Cut?
- For two years, employees have enjoyed a 2% reduction in the FICA payroll tax. That will all come to an abrupt end beginning with their first payroll check in 2013 when the FICA rate returns to 6.2% (up from 4.2% in 2011 and 2012). Self-employed individuals will have a corresponding increase in their SE tax.
- Not Too Late to Make a Tax-Free IRA Distribution to Charity for 2012
- If you are 70.5 years of age or older and are considering making a donation to a charity, you should know that, as part of the last-minute tax changes, Congress retroactively extended the option of making the contribution from your IRA account for 2012 and for 2013 as well.