Ken Berry, Esq., is a nationally-known writer and editor specializing in tax and financial planning matters. During a career of more than 35 years, he has served as managing editor of a publisher of content-based marketing tools and vice president of an online continuing education company in the financial services industry. As a freelance writer, Ken has authored thousands of articles for a wide variety of newsletters, magazines and other periodicals, emphasizing a sense of wit and clarity.
April 7, 2014
What will happen to the “tax extenders” that have been virtually ignored by Congress the last few months? At long last, there seems to be some movement on several fronts concerning these tax law provisions that are traditionally extended for just one or two years.
April 6, 2014
The IRS has been struggling in its efforts to close an estimated $385 billion “tax gap” between the amount that taxpayers owe and the amount they’ve actually paid. Now, to add another crushing weight, it has to ramp up Obamacare activities despite recent budget cutbacks.
April 4, 2014
Despite reports of a formal extension circulating in the media, March 31 was the last day that individuals could sign up for health insurance coverage for 2014 under the Obamacare mandate without risking a hefty financial penalty. Or was it?
April 2, 2014
It’s even more difficult than before for most taxpayers to qualify for medical expense deductions now that the “floor” has been raised to 10 percent of adjusted gross income (AGI) from 7.5 percent of AGI.
March 28, 2014
With about two weeks to go in tax filing season, the procrastinators are finally starting to contact your office. Usually, they’ve postponed the inevitable because they fear they’ll be entitled to only a miniscule refund or they will have to ante up to Uncle Sam.
March 28, 2014
One could say that the automatic tax filing extension is the taxpayer’s best friend – besides being a bosom buddy to tax return preparers – as the tax filing season rushes to a close. And this BFF may be able to do more for you than you think. However, just like most good friends, it’s…
March 28, 2014
Despite recent claims that the deadline for signing up for Obamacare would not be postponed beyond the initial March 31 deadline – the day before April Fool’s Day – the White House has finally caved into the pressure. According to a report in the Washington Post on March 25, the Obama administration is extending the…
March 26, 2014
The government seems to have worked out most of the kinks in www.healthcare.gov, the online site used to sign up for Obamacare. But it has yet to address another glitch that surfaced almost two years ago: Language in the law that prevents married taxpayers who file separate tax returns from qualifying for special tax subsidies.
March 20, 2014
Many federal income tax breaks are reserved for low-income families – the earned income tax credit (EITC) instantly comes to mind – but that doesn’t mean that wealthier individuals can’t get their fair share of the pie.
March 18, 2014
State income taxes are often overlooked by the general public, but professional tax return preparers should not make the same mistake. Nevertheless, it is easy to miss tax benefits or liabilities associated with state income taxes, especially as they relate to federal Form 1040.
March 17, 2014
New legislation passed by the House tying the “doc fix” to Obamacare is expected to meet its demise on the Senate floor. Thus, a once-promising solution to a long-term problem is likely to turn into another victim of bipartisan politics.
March 10, 2014
The Obama administration is relying on various federal agencies and organizations to help implement the complex rules under the Patient Protection and Affordable Care Act (PPACA), the comprehensive health care legislation otherwise known as “Obamacare.” Naturally, the IRS is expected to play a major role, including enforcement of the penalties for failing to obtain minimum…
