Net Returns, LLC

02/02/2017

02/02/2017

Do you want to raise your credit score in 2017? Key points: 1) Your balance should be no more than 30% of the available balance. 2) Ignore the minimum payment due. Try to pay the balance in full or close to it. 3) Pay on time or before it's actually due. Want to read more: See below article from the Rich Dad Library.

One of your top goals for 2017 should be to increase your credit score. Before you can have good credit you need to understand what credit is. Credit is a ... Read More

12/13/2016

2017 Standard Mileage Rates for Business, Medical and Moving Announced

WASHINGTON — The Internal Revenue Service today issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

53.5 cents per mile for business miles driven, down from 54 cents for 2016
17 cents per mile driven for medical or moving purposes, down from 19 cents for 2016
14 cents per mile driven in service of charitable organizations
The business mileage rate decreased half a cent per mile and the medical and moving expense rates each dropped 2 cents per mile from 2016. The charitable rate is set by statute and remains unchanged. The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

12/05/2016

It's almost that time again.

Steps to take before the New Year for a better tax return in 2017

02/22/2016

Don't mess with old people!

02/09/2016

Just In case anyone was planning on filing early, IRS stopped accepting e-files temporarily.

The IRS stopped accepting electronically filed tax returns Wednesday because of problems with some of its computer systems.

01/17/2016

If you sold a home in about the past four years, the state could owe you hundreds or even thousands of dollars.

09/23/2015

Tax deductible donations for Oklahoma Dream Court.

OKC DreamCourt Team: Welcome to the home of OKC DreamCourt Team fundraising page! Our individual team members have combined digital forces to create this awesome fundraising team to raise the funds necessary for a 6-hoop DreamCourt to be built in SW OKC.  The sit

09/14/2015

Many people don't realize that expenses related to finding a new job are tax-deductible in many cases. - Matthew Frankel - Investment planning

06/02/2015

04/24/2015

03/09/2015

Tax returns and payments for Corporation (and S-Corp) due date is a week from today, Monday March 16th.

02/02/2015

Your IRA contribution deadline is April 15, 2015 for the 2014 tax year. For 2014, you can contribute a maximum of $5,500 to your traditional IRA. If over 50, you can contribute up to $6,500.

01/21/2015

Obama Care Brings NEW tax forms. Set up your tax appointment today. Openings starting Feb. 1st!

The Affordable Care Act is changing the way some people file their tax returns for 2014. For the first time, people without government-approved health insurance will be paying a penalty via their 1040...

01/13/2015

Why Burger King wanted to move its headquarters to Canada.

There are distinct differences in the way a small startup pays taxes versus a large corporation.

01/08/2015

Deadline approaching: the fourth and final quarterly tax estimate for 2014 is due January 15, 2015.

12/19/2014

TAX BREAKS ANNOUNCED. http://money.cnn.com/2014/12/16/pf/taxes/tax-breaks-passed/

12/15/2014

In 2015, taxpayers may contribute up to $18,000 to their 401(k) plans; those 50 and older may contribute an additional $6,000.

12/15/2014

Ideas for your use it or lose it FSA account, although $500 can still be carried forward. Plan accordingly for next year.

Although you might be able to carry over part of your Flexible Spending Account balance, some of that money is still use-it-or-lose-it. If you're looking for some ideas of where to spend your FSA, Vox has some interesting suggestions.

12/12/2014

If you are newly self-employed, be aware of the requirement to pay quarterly income and self-employment tax estimates.

12/11/2014

The new 2015 Standard Mileage Rates announced.

Drive for business, medical, moving or charity? The IRS has just announced the 2015 standard mileage rates. Even though gas prices are going down, business mileage rates are heading up.

12/11/2014

If your small business owes no income tax for 2014, you can carry your health insurance tax credit back or forward to other years.

11/28/2014

How does Santa's accountant value his sleigh? Net Present Value.

11/26/2014

E- Filing for Michigan Sales & Use tax - questions answered.

Receive all the latest updates and news articles throughout the MICPA website.

11/21/2014

Get charitable donation tax deductions in exchange for your vacation, sick or personal leave. The IRS sent out a notice that you can donate your vacation, sick or personal leave time to victims of the Ebola outbreak. You ask your employer to cash out the leave and then donate the funds to Ebola victims. The payout will not be considered income and the donation is tax deductible. This is not a bad idea for those who do not use all their leave and may lose it if it is not used by the end of 2014.

The Internal Revenue Service today issued two items of guidance in response to the need for charitable and other relief due to the Ebola outbreak in Guinea, Liberia and Sierra Leone. One provides special relief intended to support leave-based donation programs to aid victims who have suffered from t…

11/21/2014

Remember to be cautious of tax scams -- Phone scam involving person claiming to be from IRS calling to collect unpaid taxes being reported in GR, via Mlive

A scammer made calls to Kent County residents on Nov. 17 and Nov. 19, police say

11/18/2014

Do your employees feel Important? This could be a your best motivator!

11/18/2014

Let's go back to the 90% top tax rates, after all fewer than 3% will ever hit this rate.

America has been doing income taxes wrong for more than 50 years. All Americans, including the rich, would be better off if top tax rates went back to Eisenhower-era levels when the top federal income tax rate was 91 percent, a new paper concludes...

10/21/2014

Personal exemption. The personal exemption amount for 2015 will be $4,000 (up from $3,950 for 2014).

The personal exemption will phase out for taxpayers based upon the following AGI amounts:

Joint return or $309,900 (up from $305,050 for 2014)
surviving spouse

Single (other than $258,250 (up from $254,200 for 2014)
head of household
or surviving spouse)

Head of household $284,050 (up from $279,650 for 2014)

Married filing separate $154,950 (up from $152,525 for 2014)