Monthly Archives: January 2015

Tax-Free Transfers to Charity

  Tax-Free Transfers to Charity Renewed For IRA Owners 70½ or Older; Rollovers This Month Can Still Count For 2014 IRA owners age 70½ or older have until Wednesday, Dec. 31 to make a direct transfer of part or all

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Standard Mileage Rates for 2015

Standard Mileage Rates for 2015   Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 57.5 cents per mile for business miles driven, up from 56 cents

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Taxpayer Bill of Rights

Taxpayer Bill of Rights Every taxpayer has a set of fundamental rights. You should be aware of these rights when you interact with the Internal Revenue Service. The “Taxpayer Bill of Rights” takes the many existing rights in the tax

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The Affordable Care act

The Affordable Care act and What it Means for Individuals and Familes The most important ACA tax provision for individuals and families is the premium tax credit, which took effect on January 1, 2014. Individuals without coverage and those who

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Rules for Charitable Contributions and Donations

Rules for Charitable Contributions and Donations Rules for Charitable Contributions of Clothing and Household Items Household items include furniture, furnishings, electronics, appliances and linens. Clothing and household items donated to charity generally must be in good used condition or better

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College Tax Credit for 2014 and Beyond

College Tax Credit for 2014 and Beyond In general, the American opportunity tax credit and lifetime learning credit are available to taxpayers who pay qualifying expenses for an eligible student. Eligible students include the taxpayer and his or her spouse

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The IRS Tax Season: On Time

The IRS Tax Season Will Start On Schedule The IRS will begin accepting tax returns electronically on Jan. 20. Paper tax returns will begin processing at the same time. The decision follows Congress renewing a number of “extender” provisions of

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The Affordable Care Act & Workforce Size

The Affordable Care Act and Workforce Size The Affordable Care Act (ACA) contains several tax provisions that affect employers. Under the ACA, an employer’s workforce size is significant because this information determines which provisions apply. The IRS is conducting an

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Welcome to the Nardi & Sharma, LLC Blog!

Welcome to the Nardi & Sharma, LLC Blog! On this blog you will find the latest information on tax changes, tax procedures, and links to informative tax publications provided by the IRS. Enjoy! – Nardi & Sharma, LLC

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