Income Tax, Social Security Tax, etc…
It is important to learn and understand the way your paycheck is being diminished by various taxes. Smart planning during the years leading up to retirement will help you better manage the effects of taxes on your retirement income. And, you’ll know what to expect should your income rise above the taxable threshold.
“When Can Tax Cheats Relax? 20120413WSJ
This article may help in determining how long some records should be retained.
“What’s the easiest Way to Cheat on Your Taxes?” 20120403
This article is interesting.
“Life Insurance: A premium consideration” 20120205K
This article discuss some factors to consider when buying life insurance. I also provides sites to help in the process.
“Top tax sites online: How to Chose” 20120125MW
This article is for those thinking about using an online service or are considering swiching to another service to prepare their individual income tax returns.
Key Numbers for 2012 and 2011
The 2012 key numbers will help in your 2012 planning. The 2011 key numbers will help in the preparartion of you 2011 tax returns.
“How to Dodge Last-Minute Tax Traps” 20111224WSJ
This article has helpful hints about contributions, stock trades and non-charitable gifting
“Age – Related Tax Milestones” 20111215SM
Useful discussion of common tax rules that are age sensitive.
IRA and Retirement Plan Limits for 2012
“Tax Treatment of Employer-Provided Cell Phones“
The IRS notice applies to years after December 31, 2009. Employers should have a written ploicy stating the non compensatory business reasons for providing the cell phone.
“Write Off Your Job Hunt!” 20110924WSJ
This article also provides information and tips for the self-employed and single member Limited Liability Companies
“HSAs: Still Tax-Smart” 20110915SM
Know the limitations and qualifications to maximize the benefits from Health Savings Accounts.
“Congress Passes Tax Patent Reform; Sends Bill to President” 20110908JA
The law should reduce the complexity and cost of complying with tax laws.
Deadline Approaching for Unduing a 2010 Roth Conversion
“Should You Reverse that Roth Conversion?”20110907SM
With the stock market down you should review any 2010 Roth conversions. If it is appropriate to reverse the 2010, the reversal of the Roth conversion must be done before October 17, 2011.
” ‘Carried Interest” in the Cross Hairs.” 20110806WSL
This is one of the frequent changes to the tax code that is being dicussed. Laura Saunders discusses what is involved.
“Flexible savings accounts become even more valuable” 20110718 USAT
Be sure to use the amount you elected before December 31 when they lapse.
IRS increases business, medical and moving mileage as of July 1, 2011 through December 31,2011
“E-File or Else: What’s New for Tax Season” 20110319 WSJ
IRS has stopped sending out tax forms in an attempt to get more people to e-file.
2010 – 2011 Income Tax Key Numbers
“The Savings Game: What to look for in finding a preparer to do tax returns” 20110223 ADS
“Be prepared to ask questions of your income tax preparer”
“IRS Audit Red Flags-The Dirty Dozen“ 2010 December K
A discussion of some red flags that could increase your chances of an IRS audit.
“The IRS Targets Income Tricks” 20110122 WSJ
A discussion of a recent tax case involving “low” salaries are paid to an employee-sole owner shareholder of a “S” corporation. Because the Internal Revenue Code requires that only “Small business corporations can qualify to be “S” corporations. Among the requirements are: such corporations must be a domestic corporation; generally only have shareholders that are individuals, estates and certain trusts; shareholders are not corporations or partnerships; all shareholders are U.S. residents; have only one class of stock; and not have more than 100 shareholders.
“Tax Changes For 2011: A Checklist” 20100108 WSJ
This article notes “…that last year’s 11th-hour tax changes..are temporary”
“Roth Conversion: Good or Bad?” MSA20090814
401(k) borrower can’t benefit from fund losses WSJ 20090613-14
“How the New Wealth Taxes Will Hit You” 20100612 WSJ
