Archive | Tax Planning & Tips

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Final Goodbye for 2013

Many considered Dec. 31, 2013, the final date for year-end tax planning, but there are numerous planning actions that you can take in 2014 retroactive to 2013. Here’s a quick and easy guide to help you with your planning. Retirement Plans • Conventional and Roth IRA contributions for 2013 can be made until the April […]

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small biz

Tax Tips for Small Business Owners

Saville, Dodgen & Company would like to remind small-business owners about five tax regulations and credits that they should evaluate before the end of the year. 1. The Small Business Tax Credit. Certain small business owners who offer health coverage to employees can apply for the small-business tax credit to help offset the cost of […]

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small business

Tax Breaks for Small Business Startups

Senators Robert Menendez, D-N.J. and Pat Toomey, R-Pa., have introduced bipartisan legislation to help entrepreneurs start and grow a small business and comply with complex tax rules. The Start Up Jobs and Innovation Act aims to make it easier for businesses to expand by permanently allowing companies to deduct the first $500,000 in equipment purchases.  […]

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Tax Planning Guide 2013

Planning & Preparing As a friend of Saville, we hope to provide you with helpful explanations of the current federal tax rules, tax tables, and worksheets you can use to make a preliminary estimate of your 2013 taxable income. Click here to see the 2013 Tax Planning Guide. As always, if you have any questions […]

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tax mistakes

Top 10 Tax Mistakes by Investors

Investing is a complex undertaking. The supply of investment alternatives is seemingly endless. Evaluating various alternatives can be quite difficult and very time consuming. And unless held in check, the actual decision-making process is fraught with human emotions that often lead investors to make counterproductive investment choices. Add to this the myriad tax rules and […]

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Tax Relief

Modified e-File System Reduce Taxpayer Burden

IRS e-File System Improvements Should Reduce Taxpayer Burden. The enhancements that the Internal Revenue Service is making to its Modenized e-File computer system promise to improve the system’s reliability and reduce delays in processing tax returns next filing season, according to a new report. The report, from the Treasury Inspector General for Tax Administration, noted that […]

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Tax Form

Tax Refund Amounts Fell During Delayed Tax Season

Tax Refund Amounts Fell During Delayed Tax Season Changes to the tax laws at the beginning of the year resulted in a delayed tax season in which the average tax refund declined slightly, according to a new government report. The report, released Thursday by the Treasury Inspector General for Tax Administration, found that the average […]

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Tax Mistakes

The Biggest Small Business Tax Mistakes

A survey of professional tax preparers reveals the most costly tax mistakes made by entrepreneurs and small business owners. Income taxes and small business ownership go hand in hand. Since you can’t avoid paying the IRS, your best bet is to execute strategies and implement small business tax tips to reduce your tax liability and […]

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Tax Penalty Forms

IRS Grants Taxpayers Late-Payment Penalty Relief Due to Delayed Forms

Late-Payment Penalty Relief The Internal Revenue Service is giving relief from late-payment tax penalties to individuals and businesses that request a tax-filing extension because they are attaching to their returns any of the forms that couldn’t be filed until after January. The relief applies to the late-payment penalty, normally 0.5 percent per month, charged on […]

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