Employee Business Expenses

Some sacramento and auburn employees may be able to deduct certain work-related expenses. The following facts from the Islip + Company can help you determine which expenses are deductible as an employee business expense. You must be itemizing deductions on IRS Schedule A to qualify.

Expenses that qualify for an itemized deduction generally include:

• Business travel away from home
• Business use of your car
• Business meals and entertainment 
• Travel
• Use of your home
• Education
• Supplies
• Tools
• Miscellaneous expenses

You must keep records to prove the business expenses you deduct.

If your sacramento or auburn employer reimburses you under an accountable plan, you should not include the payments in your gross income, and you may not deduct any of the reimbursed amounts.

An accountable plan must meet three requirements:

1. You must have paid or incurred expenses that are deductible while performing services as an employee.

2. You must adequately account to your employer for these expenses within a reasonable time period.

3. You must return any excess reimbursement or allowance within a reasonable time period.

If the plan under which you are reimbursed by your employer is non-accountable, the payments you receive should be included in the wages shown on your Form W-2. You must report the income and itemize your deductions to deduct these expenses.

Generally, you report unreimbursed expenses on IRS Form 2106 and attach it to Form 1040. Deductible expenses are then reported on IRS Schedule A, as a miscellaneous itemized deduction subject to a rule that limits your employee business expenses deduction to the amount that exceeds 2 percent of your adjusted gross income.

For more information see sacramento accountants, cpa in sacramento and accountants, cpa in auburn: islip + company, tax return preparation experts with offices in sacramento and auburn california, watching out for our clients taxes and your taxes both IRS tax and FTB tax.  The well informed make better decisions...Let islip + company sacramento accountants be your tax calculator helping you to maximize your tax returns, islip + company will find every legal item and deduct it... the legal minimum tax is the maximum you will pay at islip + company...accountants, cpas in sacramento and accountants, cpas in auburn

IRS Publication 529, Miscellaneous Deductions, which is available on the IRS website at www.irs.gov, or by calling 1-800-TAX-FORM (800-829-3676).

Tax Planning for 2012 individual tax 

A number of new, changed and expired provisions that affect individuals' taxes for 2012. This Alert provides a brief overview of the tax rules for individuals and looks at the changes that impact 2012 taxes.  

Farmers and fishermen. Special estimated tax rules apply to farmers and fishermen.

New items: 

• Reduced asset purchase expensing.

Islip observation: This is big, For tax years beginning after 2012, unless Congress acts to change the rules, expensing will be further reduced to $25,000 with a $200,000 investment-based ceiling.

• No parity for exclusion from income for employer-provided mass transit and parking benefits. The exclusion for qualified parking rises from $230 to $240 due to an inflation adjustment, but falls from $230 to $125 for employer-provided transit and vanpooling benefits.

Islip observation: Not much here, On March 14, the Senate by a vote of 74 to 22 passed S. 1813, the “Moving Ahead for Progress in the 21st Century Act” or MAP-21. Among other things, the bill would increase the 2012 exclusion amount for employer-provided transit and vanpooling benefits from $125 to $240 for months after Dec. 31, 2011.

Changed provisions. In calculating 2012 estimated tax, an individual should consider the following changed provisions:

• Alternative minimum tax (AMT) exemption amount decreased. The AMT exemption amount is decreased to $33,750 ($45,000 if married filing jointly or a qualifying widow(er); $22,500 if married filing separately).

• Certain credits not allowed against the AMT.

Islip observation: ALT min is terrible and a form of double jeopardy,  This credit limit may reduce a taxpayer's personal credits even if he has no AMT liability.

Islip observation: In past years, Congress enacted legislation to “patch” the AMT problem by increasing exemptions and allowing use of more credits against AMT. This year, with concerns over deficits and increased needs for revenue, it is harder to predict whether a patch will be passed. Thus, this year, taxpayers should consider making estimated tax payments as if this relief will not materialize.

• Increased standard deductions.

• Standard mileage rates.

• Personal exemption increased.

• Income limits for excluding education savings bond interest increased. In order to exclude interest, the taxpayer's modified adjusted gross income (MAGI) must be less than $87,850 ($139,250 if married filing jointly or a qualifying widow(er)).

• Lifetime learning credit income limits increased. In order to claim a lifetime learning credit, the taxpayer's MAGI must be less than $62,000 ($124,000 if married filing jointly).

• Adoption credit and exclusion.

• Earned income credit.

• Foreign earned income exclusion.

• Extended health coverage tax credit.

Reminder on Roth IRAs. If the taxpayer rolled over or converted part or all of another retirement plan to a Roth IRA in 2010, or made an in-plan rollover to a designated Roth account after Sept. 27, 2010, and did not elect to include the resulting taxable amount in income for 2010, he should have reported half of that taxable amount on his 2011 return and must report the other half on his 2012 return.

Expired tax benefits. The following tax items expired or have been repealed and are not available for 2012, unless Congress acts to retroactively extend them:

• Credit for non-business energy property. 
• Plug-in electric vehicle credit. 
• Plug-in conversion credit. 
• New energy efficient home credit. 
• Energy efficient appliance credit. 
• Employer wage differential for active duty members of the uniformed services. 
• Work opportunity credit
• Deduction of expenses for schoolteachers. 
• Deduction for mortgage insurance premiums. 
• Deduction for state and local sales taxes instead of state and local income taxes. 
• Tuition and fees deduction. 
• Tax-free distribution from retirement accounts for charitable purposes. 
• Zero percent capital gains rate for DC Zones assets. 
• First-time homebuyer credit.

see sacramento accountants, cpa in sacramento and accountants, cpa in auburn: islip + company, tax return preparation experts with offices in sacramento and auburn california, watching out for our clients taxes and your taxes both IRS tax and FTB tax.  The well informed make better decisions...Let islip + company sacramento accountants be your tax calculator helping you to maximize your tax returns, islip + company will find every legal item and deduct it... the legal minimum tax is the maximum you will pay at islip + company...accountants, cpas in sacramento and accountants, cpas in auburn

Important Tax Rules Affect Your Child’s Investment Income

Sacramento and Auburn Area parents may not realize that there are tax rules that may affect their child’s investment income. The Islip + Company, sacramento accountants offers the following four facts to help parents determine whether their child’s investment income will be taxed at the parents’ rate or the child's rate.

1. Investment income Children with investment income may have part or all of this income taxed at their parents’ tax rate rather than at the child’s rate. Investment income includes interest, dividends, capital gains and other unearned income.

2. Age requirement The child’s tax must be figured using the parents’ rates if the child has investment income of more than $1,900 and meets one of three age requirements for 2011:

• Was under age 18 at the end of the year,
• Was age 18 at the end of the year and did not have earned income that was more than half of his or her support, or
• Was a full-time student over age 18 and under age 24 at the end of the year and did not have earned income that was more than half of his or her support.

3. Form 8615 To figure the child's tax using the parents’ rate for the child’s return, fill out Form 8615, Tax for Certain Children Who Have Investment Income of More Than $1,900, and attach it to the child's federal income tax return.

4. Form 8814 When certain conditions are met, a parent may be able to avoid having to file a tax return for the child by including the child’s income on the parent’s tax return. In this situation, the parent would file Form 8814, Parents' Election To Report Child's Interest and Dividends.

More information can be found by contacting the accountants, in sacramento and in auburn: islip + company, tax return preparation experts with offices in sacramento and auburn california, watching out for our clients taxes and your taxes both IRS tax and FTB tax.  The well informed make better decisions...Let islip + company be your tax calculator helping you to maximize your tax returns, islip + company will find every legal item and deduct it... the legal minimum tax is the maximum you will pay at islip + company...cpas in sacramento and cpas in auburn or by emailing your quick tax question to This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Links:

• Form 8615, Tax for Certain Children Who Have Investment Income of More Than $1,900 and instructions
• Form 8814, Parent's Election to Report Child's Interest and Dividends
• Publication 929, Tax Rules for Children and Dependents

Health Insurance Tax Breaks for the Self-Employed

If you're self-employed and paying for medical, dental or long-term care insurance in the sacramento or auburn area, the sacramento accountants of Islip + company want to remind you about a special tax deduction for some insurance premiums paid for you, your spouse, and your dependents.

Starting in tax year 2011, this deduction is no longer allowed on Schedule SE (Form 1040), but you can still take it on Form 1040, line 29.

You must be one of the following to qualify:

• A self-employed individual with a net profit reported on Schedule C (Form 1040), Profit or Loss From Business, Schedule C-EZ (Form 1040), Net Profit From Business, or Schedule F (Form 1040), Profit or Loss From Farming.
• A partner with net earnings from self-employment reported on Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc., box 14, code A.
• A shareholder owning more than 2 percent of the outstanding stock of an S corporation with wages from the corporation reported on Form W-2, Wage and Tax Statement.

The insurance plan must be established under your business.

• For self-employed individuals filing a Schedule C, C-EZ, or F, the policy can be either in the name of the business or in the name of the individual.
• For partners, the policy can be either in the name of the partnership or in the name of the partner. You can either pay the premiums yourself or your partnership can pay them and report the premium amounts on Schedule K-1 (Form 1065) as guaranteed payments to be included in your gross income. However, if the policy is in your name and you pay the premiums yourself, the partnership must reimburse you and report the premium amounts on Schedule K-1 (Form 1065) as guaranteed payments to be included in your gross income. Otherwise, the insurance plan will not be considered to be established under your business.
• For more-than-2-percent shareholders, the policy can be either in the name of the S corporation or in the name of the shareholder. You can either pay the premiums yourself or your S corporation can pay them and report the premium amounts on Form W-2 as wages to be included in your gross income. However, if the policy is in your name and you pay the premiums yourself, the S corporation must reimburse you and report the premium amounts on Form W-2 as wages to be included in your gross income. Otherwise, the insurance plan will not be considered to be established under your business.

For more information see Islip + company, sacramento and auburn accountants, available by calling 916-488-1900, accountants, cpa in sacramento and accountants, cpa in auburn: islip + company, tax return preparation experts with offices in sacramento and auburn california, watching out for our clients taxes and your taxes both IRS tax and FTB tax.  The well informed make better decisions...Let islip + company sacramento accountants be your tax calculator helping you to maximize your tax returns, islip + company will find every legal item and deduct it... the legal minimum tax is the maximum you will pay at islip + company...accountants, cpas in sacramento and accountants, cpas in auburn.

or email us This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Links:

Publication 535, Business Expenses

Tax Credits Available for Certain Type of Energy Efficient Home Improvements

Islip + Company, CPAs would like you to get some credit for qualified home energy improvements this year. Perhaps you installed solar equipment or recently insulated your sacramento or auburn home? Here are two tax credits that may be available to you:

1. The Non-business Energy Property Credit Sacramento and Auburn homeowners who install energy efficient improvements may qualify for this credit. The 2011 credit is 10 percent of the cost of qualified energy-efficient improvements, up to $500. Qualifying improvements includeadding insulation, energy-efficient exterior windows and doors and certain roofs. The cost of installing these items does not count. You can also claim a credit including installation costs, for certain high-efficiency heating and air conditioning systems, water heaters and stoves that burn biomass fuel. The credit has a lifetime limit of $500, of which only $200 may be used for windows. If you've claimed more than $500 of non-business energy property credits since 2005, you can not claim the credit for 2011. Qualifying improvements must have been placed into service in the taxpayer’s principal residence located in the United States before Jan. 1, 2012.

2. Residential Energy Efficient Property Credit This tax credit helps sacramento and auburn individual taxpayers pay for qualified residential alternative energy equipment, such as solar hot water heaters, solar electricity equipment and wind turbines. The credit, which runs through 2016, is 30 percent of the cost of qualified property. There is no cap on the amount of credit available, except for fuel cell property. Generally, you may include labor costs when figuring the credit and you can carry forward any unused portions of this credit. Qualifying equipment must have been installed on or in connection with your home located in the United States; geothermal heat pumps qualify only when installed on or in connection with your main home located in the United States.

Not all energy-efficient improvements qualify so be sure you have the manufacturer’s tax credit certification statement, which can usually be found on the manufacturer’s website or with the product packaging.

If you're eligible, cpa in sacramento and cpa in auburn: islip + company, tax return preparation experts with offices in sacramento and auburn california, will help  you can claim both of these credits on Form 5695, Residential Energy Credits when you file your 2011 federal income tax return. Also, note these are tax credits and not deductions, so they will generally reduce the amount of tax owed dollar for dollar. Finally, you may claim these credits regardless of whether you itemize deductions on IRS Schedule A.  Islip + Company watching out for our clients taxes and your taxes both IRS tax and FTB tax.  The well informed make better decisions...Let islip + company be your tax calculator helping you to maximize your tax returns, islip + company will find every legal item and deduct it... the legal minimum tax is the maximum you will pay at islip + company...cpas in sacramento and cpas in auburn

You can find out more by contacting This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Link:

Form 5695, Residential Energy Credits

Four Tax Credits that Can Max your Refund

Sacramento and Auburn Tax Return Tip From Islip + Company...A tax credit is a dollar-for-dollar reduction of taxes owed. Some tax credits are refundable meaning if you are eligible and claim one, you can get the rest of it in the form of a tax refund even after your tax liability has been reduced to zero.

Here are four refundable tax credits you should consider to increase your refund on your 2011 federal income tax return:

1. The Earned Income Tax Credit is for people earning less than $49,078 from wages, self-employment or farming. Many local area of workers in Sacramento and Auburn saw their earnings drop in 2011 may qualify for the first time. Income, age and the number of qualifying children determine the amount of the credit, which can be up to $5,751. Workers without children also may qualify. For more information, see IRS Publication 596, Earned Income Credit.

2. The Child and Dependent Care Credit is for expenses paid for the care of your qualifying children under age 13, or for a disabled spouse or dependent, while you work or look for work in sacramento or Auburn. For more information, see IRS Publication 503, Child and Dependent Care Expenses.

3. The Child Tax Credit is for people who have a qualifying child in Sacramento and Auburn. The maximum credit is $1,000 for each qualifying child. You can claim this credit in addition to the Child and Dependent Care Credit. For more information on the Child Tax Credit, see IRS Publication 972, Child Tax Credit.

4. The Retirement Savings Contributions Credit, also known as the Saver’s Credit, is designed to help low-to-moderate income workers in Sacramento and Auburn save for retirement. You may qualify if your income is below a certain limit and you contribute to an IRA or workplace retirement plan, such as a 401(k) plan. The Saver’s Credit is available in addition to any other tax savings that apply. For more information, see IRS Publication 590, Individual Retirement Arrangements (IRAs).

There are many other tax credits that may be available to you depending on your facts and circumstances. Since many qualifications and limitations apply to various tax credits, you should carefully check your tax form instructions. Sacramento cpa and Auburn cpa: islip + company, tax return preparation experts with offices in sacramento and auburn california, watching out for our clients taxes and your taxes both IRS tax and FTB tax.  The well informed make better decisions...Let islip + company be your tax calculator helping you to maximize your tax returns, islip + company will find every legal item and deduct it... the legal minimum tax is the maximum you will pay at islip + company...

Links:

• 1040 Central
• Publication 596, Earned Income Credit (EIC) (PDF 281K)
• Publication 972, Child Tax Credit (PDF 128K)
• Publication 503, Child and Dependent Care Expenses (PDF 167K)
• Saver's Credit  
• Form 1040 Instructions (PDF 1,101K)

YouTube Videos:

Earned Income Tax Credit English | Spanish | ASL

Education Tax Credits Help Pay Higher Education Costs

Two federal tax credits may help residents of Sacramento and Auburn California to offset the costs of higher education for yourself or your dependents.  These are the American Opportunity Credit and the Lifetime Learning Credit.

To qualify for either credit, you must pay postsecondary tuition and fees for yourself, your spouse or your dependent. The credit may be claimed by either the parent or the student, but not both. If the student was claimed as a dependent, the student cannot file for the credit.

For each student, you may claim only one of the credits in a single tax year. You cannot claim the American Opportunity Credit to pay for part of your daughter's tuition charges and then claim the Lifetime Learning Credit for $2,000 more of her school costs.

However, if you pay college expenses for two or more students in the same year, you can choose to take credits on a per-student, per-year basis. You can claim the American Opportunity Credit for your sophomore daughter and the Lifetime Learning Credit for your spouse's graduate school tuition.

Here are some key facts the IRS wants you to know about these valuable education credits:

1. The American Opportunity Credit for Sacramento and Auburn CA residents

• The credit can be up to $2,500 per eligible student.
• It is available for the first four years of postsecondary education.
• Forty percent of the credit is refundable, which means that you may be able to receive up to $1,000, even if you owe no taxes.
• The student must be pursuing an undergraduate degree or other recognized educational credential.
• The student must be enrolled at least half time for at least one academic period.
• Qualified expenses include tuition and fees, coursed related books supplies and equipment.
• The full credit is generally available to eligible taxpayers whose modified adjusted gross income is less than $80,000 or $160,000 for married couples filing a joint return.

2. Lifetime Learning Credit Sacramento and Auburn CA residents

• The credit can be up to $2,000 per eligible student.
• It is available for all years of postsecondary education and for courses to acquire or improve job skills.
• The maximum credited is limited to the amount of tax you must pay on your return.
• The student does not need to be pursuing a degree or other recognized education credential.
• Qualified expenses include tuition and fees, course related books, supplies and equipment.
• The full credit is generally available to eligible taxpayers whose modified adjusted gross income is less than $60,000 or $120,000 for married couples filing a joint return.

If you don't qualify for these education credits, you may qualify for the tuition and fees deduction, which can reduce the amount of your income subject to tax by up to $4,000. However, you cannot claim the tuition and fees tax deduction in the same year that you claim the American Opportunity Tax Credit or the Lifetime Learning Credit. You must choose to either take the credit or the deduction and should consider which is more beneficial for you.

For more information about these tax benefits, see IRS Publication 970, Tax Benefits for Education available at www.irs.gov or by calling the IRS forms and publications order line at 800-TAX-FORM (800-829-3676).

Links:

• The American Recovery and Reinvestment Act of 2009: Information Center
• American Opportunity Credit
• Form 8863, Education Credits

islip + company cpas, sacramento tax preparation experts, auburn tax preparation experts

Six Tips on a Tax Credit for Retirement Savings

If you live in Sacramento and Auburn, California and make eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement, you may be eligible for a tax credit, depending on your age and income.

Here are six things the IRS wants you to know about the Savers Credit:

1. Income limits The Savers Credit, formally known as the Retirement Savings Contributions Credit, applies to individuals with a filing status and 2011 income of:

• Single, married filing separately, or qualifying widow(er), with  income up to $28,250
• Head of Household with income up to $42,375
• Married Filing Jointly, with incomes up to $56,500

2. Eligibility requirements To be eligible for the credit you must be at least 18 years of age, you cannot have been a full-time student during the calendar year and cannot be claimed as a dependent on another person’s return.

3. Credit amount If you make eligible contributions to a qualified IRA, 401(k) and certain other retirement plans, you may be able to take a credit of up to $1,000 ($2,000 if filing jointly). The credit is a percentage of the qualifying contribution amount, with the highest rate for taxpayers with the least income.

4. Distributions When figuring this credit, you generally must subtract distributions you received from your retirement plans from the contributions you made. This rule applies to distributions received in the two years before the year the credit is claimed, the year the credit is claimed, and the period after the end of the credit year but before the due date - including extensions - for filing the return for the credit year.

5. Other tax benefits The Retirement Savings Contributions Credit is in addition to other tax benefits you may receive for retirement contributions. For example, most workers at these income levels may deduct all or part of their contributions to a traditional IRA. Contributions to a regular 401(k) plan are not subject to income tax until withdrawn from the plan.

6. Forms to use To claim the credit use Form 8880, Credit for Qualified Retirement Savings Contributions.

For more information, review IRS Publication 590, Individual Retirement Arrangements (IRAs), Publication 4703, Retirement Savings Contributions Credit, and Form 8880. Publications and forms can be downloaded at www.irs.gov or ordered by calling 800-TAX-FORM (800-829-3676).

Links:

• Form 8880, Credit for Qualified Retirement Savings Contributions (PDF 46K)
• Form 1040, U.S. Individual Income Tax Return (PDF 176K)
• Form 1040A, U.S. Individual Income Tax Return (PDF 136K)
• Publication 590, Individual Retirement Arrangements (IRAs) (PDF 449K)
• Tax Topic 610

islip + company, cpas sacramento tax preparation experts and  also auburn california preparation experts

Ten Things to Know About Capital Gains and Losses

Did you know that almost everything you own and use for personal or investment purposes is a capital asset? Capital assets include a home, household furnishings and stocks and bonds held in a personal account. When you sell a capital asset, the difference between the amount you paid for the asset and its sales price is a capital gain or capital loss.

Here are 10 facts from the IRS about how gains and losses can affect your federal income tax return.

1. Almost everything you own and use for personal purposes, pleasure or investment is a capital asset.

2. When you sell a capital asset, the difference between the amount you sell it for and your basis – which is usually what you paid for it – is a capital gain or a capital loss.

3. You must report all capital gains.

4. You may only deduct capital losses on investment property, not on personal-use property.

5. Capital gains and losses are classified as long-term or short-term. If you hold the property more than one year, your capital gain or loss is long-term. If you hold it one year or less, the gain or loss is short-term.

6. If you have long-term gains in excess of your long-term losses, the difference is normally a net capital gain. Subtract any short-term losses from the net capital gain to calculate the net capital gain you must report.

7. The tax rates that apply to net capital gain are generally lower than the tax rates that apply to other income. For 2011, the maximum capital gains rate for most people is 15 percent. For lower-income individuals, the rate may be 0 percent on some or all of the net capital gain. Rates of 25 or 28 percent may apply to special types of net capital gain.

8. If your capital losses exceed your capital gains, you can deduct the excess on your tax return to reduce other income, such as wages, up to an annual limit of $3,000, or $1,500 if you are married filing separately.

9. If your total net capital loss is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you incurred it in that next year.

10. This year, a new form, Form 8949, Sales and Other Dispositions of Capital Assets, will be used to calculate capital gains and losses. Use Form 8949 to list all capital gain and loss transactions. The subtotals from this form will then be carried over to Schedule D (Form 1040), where gain or loss will be calculated.

For more information about reporting capital gains and losses, see the Schedule D instructions, Publication 550, Investment Income and Expenses or Publication 17, Your Federal Income Tax. All forms and publications are available at www.irs.gov or by calling 800-TAX-FORM (800-829-3676).

Links:

• Publication 17, Your Federal Income Tax (PDF 2015.9K)
• Publication 550, Investment Income and Expenses (PDF 516K)

islip + company, cpas sacramento tax preparation experts and  also auburn california preparation experts

Early Distribution from Retirement Plans May Have a Tax Impact

Sacramento and Auburn CA taxpayers may sometimes find themselves in situations when they need to withdraw money from their retirement plan early. What they may not realize is that that transaction may mean a tax impact when they file their return.

Here are 10 facts from the IRS about the tax implications of an early distribution from your retirement plan.

1. Payments you receive from your Individual Retirement Arrangement before you reach age 59 ½ are generally considered early or premature distributions.

2. Early distributions are usually subject to an additional 10 percent federal and 2.5 percent california tax.

3. Early distributions must also be reported to the IRS and the FTB

4. Distributions you roll over to another IRA or qualified retirement plan are not subject to the additional 10 percent tax. You must complete the rollover within 60 days after the day you received the distribution.

5. The amount you roll over is generally taxed when the new plan makes a distribution to you or your beneficiary.

6. If you made nondeductible contributions to an IRA and later take early distributions from your IRA, the portion of the distribution attributable to those nondeductible contributions is not taxed.

7. If you received an early distribution from a Roth IRA, the distribution attributable to your prior contributions is not taxed.

8. If you received a distribution from any other qualified retirement plan, generally the entire distribution is taxable unless you made after-tax employee contributions to the plan.

9. There are several exceptions to the additional 10 percent early distribution tax, such as when the distributions are used for the purchase of a first home (up to $10,000), for certain medical or educational expenses, or if you are totally and permanently disabled.

10. For more information about early distributions from retirement plans, the additional 10 percent tax and all the exceptions, see IRS Publication 575, Pension and Annuity Income and Publication 590, Individual Retirement Arrangements (IRAs). Both publications are available at www.irs.gov or by calling 800-TAX-FORM (800-829-3676).

Links:

• Publication 575, Pensions and Annuities (PDF 227K)
• Publication 590, Individual Retirement Arrangements (IRAs) (PDF 449K)
• Form 5329, Additional Taxes on Qualified Plans (including IRAs) and Other Tax Favored Accounts   (PDF 72K)

Form 5329 Instructions (PDF 40K)

islip + company, cpas sacramento tax preparation experts and  also auburn california preparation experts