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7 Income Tax Breaks – Thanks to Your Children
As April 15 inches closer for U.S. tax filers, it’s time to get serious about looking for income tax breaks. This includes tax credits and tax deductions related to your children. Indeed, the fact that you have a family plays heavily in your favor at tax time, with existence of a number of tax breaks. [...]
How Long Should You Keep Your Financial Documents – A Quick Guide
You can significantly reduce your paper clutter — and save your sanity — when you understand which papers to preserve, and which you can toss. Use this handy guide to determine how long to keep certain documents.
6 Things to Know About the 2010 Roth IRA Conversion
As you know, this year is a magical year for the Roth IRA retirement account. It is possible to convert your traditional IRA into a Roth IRA, no matter your income. However, before you jump on the Roth IRA conversion wagon, there are a few things you should consider. Here are 6 things to know about the 2010 Roth IRA conversion.
February’s Financial Checklist
Now that the year is solidly under way, and you might be slowing down in terms of financial resolutions, consider these 5 items that can keep you fiscally fit in February.
5 Income Tax Filing Assumptions that Could Cost You Big
We have a complex tax code that can be quite confusing. Trying to tote up credits and deductions, and working on getting an advantage, can be time consuming work. It is not surprising, therefore, that a number of assumptions about tax filing turn out to be incorrect. And, while some filing assumptions (such as the [...]
5 (plus 1) Tax Moves to Consider for 2010
It is not too early to plan for the 2010 taxes. Here are the 5 moves you can make right now, and 1 bonus, that will help you ensure that Uncle Sam gets only his fair share and nothing more
Do You Really Need to Itemize Your Income Taxes this Time?
I’m an itemizer. By the time everything is added up on Schedule A of my Form 1040, my items usually exceed the standard deduction. So I itemize. But the decision to itemize your 2009 taxes may be a little more difficult this tax time, due to the fact that there have been some interesting changes [...]
5 Tax Strategies to Consider Before the Year Ends
The year is drawing to a close, and many of you are probably trying to figure out what you can do to find an extra tax break or two. You probably know that you can give more to charity or try your best to make the maximum contribution to your eligible retirement plan. But there [...]
Tax-Friendly States for Retirement
Just because you are retired from work, doesn’t mean you are retired from taxes. Where you retire can impact how much you pay in state taxes, sales taxes and property taxes.
Why You Should Hire a Tax Professional
There was a time when I did my own taxes. I was sole proprietorship with very few itemized deductions. Now, though, I’ve got an LLC, several more deductions and retirement investments on top of savings. My finances are still relatively simple, but they require a lot more paperwork these days — and a lot of [...]
