Tips for Taxpayers Who Missed the Tax Deadline

If you missed the April 15 tax filing deadline, don’t panic.  Loggins Kern & McCombs can assist with all aspects of your tax preparation needs.  Here are a few tips: [Read more…]

IRS Direct Pay Option

Direct Pay ButtonThe Internal Revenue Service offers a web-based system — IRS Direct Pay — on IRS.gov, which lets taxpayers pay their tax bills or make estimated tax payments directly from checking or savings accounts without any fees or pre-registration. [Read more…]

5 Tips to Help You Pay Your Tax Bill

If you get a tax bill from the IRS, don’t ignore it. A delay may cost you more in the long run. The longer you wait the more interest and penalties you may have to pay. Here are five tips to help you avoid those extra charges: [Read more…]

New IRS Regulations – Required Form 3115

Form-3115-ThumbnailIn September of 2013, the IRS issued final regulations that help to distinguish capital expenditures from supplies, repairs, maintenance, and other deductible expenses.  Although the final regulations are more taxpayer-favorable than the temporary regulations, they still require a significant investment in time and talent to assure compliance. Virtually every business must comply with these new rules for its first tax year beginning on or after January 1, 2014, but they may be applied to tax years beginning on or after January 1, 2012. [Read more…]

Employee or Contractor?

Contractor Employee or Contractor?  1099 or W-2?  Not sure?  The deadline for these forms is at the end of the month, and you don’t want a penalty for classifying a worker incorrectly.  Here’s a neat wizard from Intuit that guides you through ten short questions to help you decide. [Read more…]

Form 1099 FAQ

Form 1099Form 1099 is something that most people have heard of, seen or even received.  Even those people are not 100% sure about what are they, who gets them, who needs to send them, and why? [Read more…]

Tax Season Hours Begin at LKM

IRS - It's Tax SeasonLoggins Kern & McCombs began extended tax season hours today. [Read more…]

Congress Passes Extender Package

Flag-&-Gavel-ThumbnailCongress has approved the Tax Increase Prevention Act of 2014.  This new law retroactively extends “tax extenders” which had expired at the end of 2013.  This allows taxpayers to claim the popular but temporary incentives on their 2014 returns which will be filed in 2015.  These incentives affect individual and business returns in the following areas: [Read more…]

Save Twice with the Saver’s Credit

12.26_SaveIf you are a low-to-moderate income taxpayer, you can take steps to save two ways for the same amount. With the saver’s credit you can save for your retirement and save on your taxes with a special tax credit. Here are six tips you should know about this credit: [Read more…]

Year-End Gifts to Charity

Charity - canstockphoto16357066As a reminder for individuals and businesses making year-end gifts to charity, we wanted to make you aware that several important tax law provisions have taken effect in recent years. Some of the changes taxpayers should keep in mind include: [Read more…]