With April 15th now behind us, were you surprised by a large amount owed or a large refund? In some cases large amounts owed or refunded are a result of the withholding choices each employee chooses at the beginning of the year to be withheld from their paychecks. With over half of the year left, [...]
On January 1st, Congress put together a tax deal that allowed most of the Bush-era tax cuts to remain in place. This means that most taxpayers will see little change to their income taxes. However, Congress did allow the payroll tax holiday that was enacted in 2010 to expire, which adds 2% to the amount [...]
Have you made your 2012 Roth IRA contribution? If you have not yet made the maximum contribution, you still have time! Tax payers have until Monday, April 15th of 2013 to make their Roth contributions for the 2012 tax year. If you are within the income limitations to make contributions, a Roth IRA is an [...]
There are a few upcoming deadlines that may apply to you or your retirement accounts. If you have questions about these dates, please feel free to contact us or your tax professional. September 30th: Last day to pay off (or cash out) a beneficiary of an account so that he or she will not be [...]
Are you ready for tax season? Whether you’re doing your own taxes or getting a little help from a tax professional, here are a few tips that are worth thinking about before you file. * We hope these tips are helpful as you’re preparing your tax return. If you have questions, contact your personal tax [...]
There you are awaiting your tax refund, only to find it has already been claimed by someone else. Scammers are ever on the cutting-edge of new ways to swindle you out of your money. One of the newest forms of thievery is the filing of fraudulent tax returns with stolen identities to claim tax refunds. [...]
In the midst of tax season, the American Mustache Institute is proposing a tax benefit for people with facial hair. The Institute is planning a Million Mustache March this April 1st to support the “STACHE ACT,” Stimulus to Allow Critical Hair Expenses. The Act was conceived by Dr. John Yeutter, Ph.D., CFP® and based on [...]
Would you believe that just 10 years ago, Congressional approval ratings hovered around 65%? Today, partly due to the way the debt ceiling debate was handled over the summer and the failure by the SuperCommitte that came out of that discussion, approval ratings have sunk to near single digits for our elected Congress members. But [...]
As mentioned in our previous blog post about the debt ceiling, we said that our long term fiscal problem is heavily influenced by two issues- taxation and health care costs. There is a school of economic theory that says that the level of taxation has a strong inverse relationship with economic growth. In other words, [...]
We all hear about how the US is going broke. Depending on the viewpoint or agenda of the source of what we hear, read or see, the cause of the federal government’s financial problems varies. Unfortunately, there is almost always a lack of actual facts and perspective, so the public is left to try to [...]
We’ve created a few documents that may assist you in sorting and gathering your financial data.
