David Auer, Founder and CEO of Auer Tax Group Reminds Taxpayers About Three Areas Often Overlooked
Founder and CEO of Auer Tax Group, author and Premier Tax Expert, David Auer, reminds taxpayers of three often overlooked instances that must be reported on tax returns.
Tulsa, Oklahoma – January 28, 2016 – David Auer, recognized Premier Tax Expert and Founder/CEO of Auer Tax Group posted a new blog on the company website entitled “Consider Children, IRA/Roth Contributions and Gift Tax Returns.”
Auer writes, “Here we are at the start of the 2015 tax season with a little time to catch our breath after the dizzying comings and goings of the holiday season.” He continues adding, “While you are taking a few moments before gearing up for the frenzy of tax time, take a few moments to consider the following areas that often get overlooked at tax time to determine whether any may apply to you.”
Addressing the topic of whether a child needs to file a return, Auer states, “They’ll need to file if wages exceeded $6,300, self-employment income was over $400, or investment income exceeded $1,050.” In addition he writes, “When income includes both wages and investment income, other thresholds apply.”
On the topic of contributing to a Roth or IRA, Roth says, “Since you have until April 18 to make a 2015 contribution (April 19 if you live in Maine or Massachusetts), you can schedule an amount to set aside from each paycheck for the next few months.”
Regarding a gift tax, according to Auer, “You may need to file a return if you gave gifts totaling more than $14,000 to someone other than your spouse.”
The entire blog can be read http://www.premiertaxexpert.com/consider-children-iraroth-contributions-and-gift-tax-returns/
About David Auer
With over 30 years of experience, David Auer is the Founder and CEO of Auer Tax Group, a national tax consulting firm, Blue Ocean Strategies, a business strategic planning group, and The Advanced Planning Group, a collaboration of multidisciplinary advisors focused on tax, estate, asset protection, and business succession strategies for successful business owners, professionals, and high net worth families. He is also a founding member of Financial Gravity Law, a division of Financial Gravity®.
David is a frequent speaker, is recognized as one of America’s Premier Experts®, is on the adjunct faculty of Asset Protection Corporation founded by internationally acclaimed asset protection attorney Robert Lambert, LLM in Taxation, Esq., and is the author or co-author of several books, including 57 Ways to Grow Your Business – Bright Ideas for Serious Entrepreneurs; “You Can Deduct THAT?”; Ignite Your Life with Brian Tracy; and Performance 360 Special Edition with Richard Branson.