NOTIFY THE IRS WHEN YOU MOVE

If you're one of the millions of taxpayers who've moved recently, don't forget to notify the IRS of your address change. Use "Form 8822, Change of Address," or send written notification to the IRS center where you file your return. Include your full name, old and new addresses, social security number, and signature. If you filed a joint return, include this information for both taxpayers. Keeping the IRS informed of your current address will ensure that you receive notices and refunds without delay.

RETIREMENT TAX RULES

Three important birthdays affect your retirement plan: 

* At age 50, you can make extra "catch-up" contributions to your IRA and 401(k) savings. For 2013, these are $1,000 and $5,500, respectively. 

* After age 59½, you're eligible to make penalty-free withdrawals from your IRAs.   

* Beginning no later than the year after you reach age 70½, you're required to take minimum distributions from your traditional IRAs each year. 

Need more details? Contact our office at (518) 798-3330.

SUMMERTIME BUSINESS TIP

Check the tax savings of combining business and pleasure on the same trip this summer. Within the U.S., if the primary purpose of the trip is business and you add on a side trip or an extra few days for pleasure, you can deduct all the travel costs to and from your business destination and all other business-related costs. You can't deduct costs related to the pleasure portion.

CUSTOMER SERVICE TIP: HOW TO KEEP YOUR CUSTOMERS COMING BACK

Every successful business relies on a core group of customers who keep coming back on a regular basis. Sure, you're always trying to find new customers and expand your market. But chances are that it's the "regulars" who provide the bulk of your revenues. It's important not to forget this group.

WHAT INVESTMENT EXPENSES ARE DEDUCTIBLE?

Whether you're a stock market bull or bear, you have investment expenses - and you may be wondering if they're deductible on your federal income tax return.

AVOID GROWING PAINS IN YOUR BUSINESS

One way to kill your business is to grow it too fast. Many profitable small businesses have expanded at the wrong time and at the wrong level of increased costs. The result is that they never again make a profit. How does this happen?

IDENTIFY TYPES OF INCOME TO END UP WITH LOWER 2013 TAXES

Act now to identify ways to minimize your 2013 taxes. Start by estimating your 2013 income, sorting it into categories such as wages, investments, passive income, retirement plan distributions, and active business income. Different tax rules apply to different kinds of income, and rules differ at various income thresholds. If you act now rather than later in the year, you'll have time to identify and put tax-saving options to work for you.