Monthly Archives: November 2013

Tax Bites: Smart timing of income and expenses can save or defer tax

By projecting your business’s income and expenses for 2013 and 2014, you can determine how to time them to save — or at least defer — tax. If you’ll be in the same or lower tax bracket in 2014, consider: … Continue reading

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Tax Bites: Gift tax annual exclusion still a good idea

Recently, the IRS released the 2014 annually adjusted amount for the unified gift and estate tax exemption and the generation-skipping transfer (GST) tax exemption: $5.34 million (up from $5.25 million in 2013). But even with the rising exemptions, making annual … Continue reading

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IRS Announces 2014 Inflation Adjustments

The Internal Revenue Service recently announced annual inflation adjustments for tax year 2014 for more than 40 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2013-35 provides details about these annual adjustments. The tax items … Continue reading

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