WE'RE NUMBER I!!!
Thanks to you, our valued clients, Frank C. Kiepura, P.C. is the
number 1 office in the Greater Capital District for the preparation
of electronically filed income tax returns.
As you can see from the enclosure, we prepare more returns than
the number 2 office by a large margin.
It is my personal promise and pledge to you that we will continue
to earn your trust and confidence now and into the future.
1. This year we will, once again, electronically file BOTH your federal and state
returns for FREE!!!
2. ENERGY TAX CREDITS - For existing homes, tax credits are worth 10% of the cost up to a
maximum of $500; i.e. that's $500 in your pocket for exterior windows and doors, skylights,
insulation, furnaces, boilers, and hot water heaters. Heat pumps, solar panels, wind energy systems,
geothennal and fuel cells qualify for 30% credit with no upper limit.
3. Tuition (American Opportunity Credit) up to $2250 per eligible student with a portion being
refundable!! INCLUDES BOOKS AND SUPPLIES!!!
4. Child tax credit refundable portion up to $1,000! for 2011 and earned income tax credit
increased for 20 1 1.
5. Meal & Miles - Mileage rate up to 55.5 cents from 51.0 cents for second half of 2011.
Regardless of which method is used to deduct vehicle expenses, good records must be kept; i.e.
you must keep a log, diary, or calendar and mark business trips taken and mileage for them or
you will lose mileage write-offs if you should be audited. MEAL EXPENSES for travel &
entertainment recorded in same log.
6. Non-cash contributions! Donate clothing to Salvation Army or other charities. Use 114 to 113original value; list clothing items with values on sheets of paper. Get charity to stamp the paperwork when making these donations. We'll deduct on your tax Return. YOU GET A
DEDUCTION WITHOUT WRITING A CHECK or contribute appreciated STOCK instead ofcash. You get full value as a charitable write-off & don't pay on the gain. ALERT!!! Write"'Very Good Used Condition" on your receipt.
7. Self stock before December 31st - losses can be used to offset gains on other sales; they can also
produce an additional $3000 dollar write-off against other income.
8. Pre-pay mortgage, real estate and state and local taxes (prior to 12/3112011)-and get a
deduction on your Federal 201 1 retum. Pre-pay deductible expenses-on or by December 31 (use
credit cards if need be) and deduct on the year's retum.
9. Extensive lists of deductible items by occupation/profession (law enforcement, teachers, sales
persons, firemen, etc.) can be obtained in our ofice.
10. New heavy SUV's (over 6,000 pounds) bought in 2011 entitled to huge tax break (100%
write-off).
11. Kids under 18 working for parents exempt from FICA (social security) tax.
12. Hire unemployed Vet. Get credit up to $9,600.00.
HAPPY HOLIDAYS!
Frank
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