Exempt Military Pay

Jun 14, 2014 | Larry | Amended tax return, exempt state income, military, National Guard, Reserves, State taxing authority, Taxes

Several states exempt active duty military pay from state taxes. Included are National Guard/Reserve units that have been deployed to active duty, as well as some National Guard active duty for training. If this applies to you, and you did not take t

Depreciation

May 9, 2014 | Larry | Amended tax return, depreciation, IRS

Depreciation is a valuable tax deduction. It is oftentimes not taken due to taxpayer misconceptions, including the belief that the taxpayer will be heavily taxed on the depreciation when the asset is sold. Any additional tax represents a small percen

Ten Facts about Amended Tax Returns-IRS Tax Tip

May 2, 2014 | Larry | Amended tax return, business expenses, credits, deductions, interest, IRS, State taxing authority, Taxes

Issue Number: IRS Tax Tip 2014-51 Inside This Issue Do you have an uneasy feeling that you overpaid taxes in a previous year? If your gut feeling rings true, it is possible to file an amended tax return. You generally have