2016 Tax Organizer

Get Organized to Avoid Stress

Are you ready for tax time?  If not, there are steps you can take now to alleviate some of the stress related to filing your return.  Plan to get organized early by creating a tax folder for all your tax documents such as W-2s, 1099s, bank statements, and receipts for things like medical bills and charitable donations.  […]

WARNING: Don’t Count on Disaster-Relief from LDR

Last Minute Press Release Leaves Taxpayers Uneasy

  On May 11, 2016 (five days ahead of filing deadline), the Louisiana Department of Revenue (LDR) issued a press release reminding the public of Monday’s deadline for filing individual returns and paying taxes.  The press release also addresses the extended deadline for taxpayers residing in federally declared “disaster areas” of Louisiana.  According to the […]

Medical & Dental Expenses

  For purposes of itemizing your deductions, the Internal Revenue Service (IRS) defines medical expenses as the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatments affecting any part or function of the body.  Medical care expenses must be primarily to alleviate or prevent a physical or mental defect […]

Published Article: Student Loan Debt – Taxation & Restructuring Options

On May 2, 2016, my article on student loan debt taxation and restructuring was published by BIZ.Magazine.  The article, Student Loan Debt: Taxation & Restructuring Options, is featured in the May 2016 edition of the local publication (on page 6), and it is posted online at www.bizmagsb.com.  Here is a link to the article on BIZ.Magazine’s website. Feel […]

Unreimbursed Employee Business Expenses

Did you purchase goods or services to aid the business that you worked for during the year? If so, did your employer reimburse you for this out-of-pocket expense?  If not, you may be eligible to deduct these costs (hereinafter referred to as Unreimbursed Employee Expenses) as an itemized deduction on your income tax return.  Read […]

Employee Business Expenses

Tax Deadline Postponed for North Louisiana Taxpayers

Following President Obama’s disaster declaration for the state of Louisiana, the Internal Revenue Service (IRS) announced that affected taxpayers in Louisiana will receive tax relief. So, what does this mean for taxpayers of North Louisiana?  Glad you asked… North Louisiana residents are receiving additional time to file tax returns and pay taxes.  In addition, North Louisiana […]

2015 Year-End Estate Tax Planning

In 2015, the federal estate tax exemption is $5.43 million.  With little planning, a married couple can pass up to $10.86 million worth of assets to heirs, so no estate tax will be due.  Those numbers will increase in the future with inflation. With such a large exemption, you may think that estate tax planning […]

Reduce Your Tax Burden by Deducting Taxes Paid

  When filing individual income tax returns, you have the option to itemize deductions or take the standard deduction. For 2015, the standard deduction amounts are as follows: Filing Status Standard Deduction Amount   Single $   6,300   Married Filing Jointly $ 12,600   Head of Household $   9,250   While taking the standard deduction […]