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Dear Valued Client,

In this edition of our client newsletter we cover the importance of adjusting your payroll withholding, understanding the fine points of capital gains and losses, some big write-offs for businesses and much more.

Our goal is to provide you an unparalleled level of client service. If you see something that you want to talk about, please contact us to explore the possibilities. We rely on satisfied clients as the primary source of new business, and your referrals are both welcomed and most sincerely appreciated!



TaxSquad - Laurence Weinhoff, EA

Was Your Refund Too High or Did You Owe Taxes? You Probably Need to Adjust Your W-4


If you are a wage earner and that is your primary source of income and you received a very large refund—or worse, if you owed money—then your employer is not withholding the correct amount of tax (but it probably isn’t your employer’s fault). Sure, you like a big refund, but you have to remember you are only getting your own money back that was over-withheld in the first place. Why not bank it and have access to it all year long instead of providing Uncle Sam with an interest-free loan?
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Are You Caring for a Disabled Family Member? Read This.


Many taxpayers prefer to care for ill or disabled family members in their homes as opposed to placing them in nursing homes, but doing this can be expensive, time-consuming, and exhausting. The government also recognizes home care as a means of reducing the government’s costs in terms of caring for individuals who otherwise would be institutionalized (because they require the type of care that is normally provided in a hospital, nursing facility, or intermediate care facility).
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What Are the Tax Implications of Paying or Receiving Alimony?


Recently divorced individuals may pay or receive alimony. If this is your situation, here are some tips for how to correctly treat the payments on your tax return.
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Understanding the Fine Points of Capital Gains and Losses


There is a category of income resulting from the sale of capital assets that receives special treatment for tax purposes.
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Tax Benefits for Members of the Clergy


Members of the clergy may qualify for two unique tax benefits: a tax-free parsonage allowance and exemption from self-employment tax on their ministerial earnings. Here are the details for both.
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Big Business Write-Offs Available


With the enactment of the Protecting Americans from Tax Hikes (PATH) Act, Congress made two significant business-friendly changes in the tax law, extending bonus depreciation and making the Section 179 deduction’s higher expensing amount permanent. This article examines these changes so that you can take full advantage of them in your trade or business.
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Disclaimer: The tax advice included in this newsletter is an overview of some complex tax rules and is not intended as a thorough in-depth analysis of the tax issues discussed. Do not act on the information included in this newsletter without first determining how these issues apply to your particular set of circumstances and if there are any special tax laws or regulations that might apply to your situation.
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