End of Year Bonuses With the end of the year fast approaching, many companies issue bonuses at the end of the year to their employees. Please keep in mind that bonuses to employees are treated as payroll and taxes must be withheld. Also keep in mind that bonuses to...
What is a lame duck and what does it have to do with Congress? We’ll have some political lame ducks this year, and Congress will convene a lame duck session after the November election. A quick reminder about lame ducks: A member of Congress who lost his or her bid...
Identify Shares you are Selling You can often manage the size of your gain or loss when you decide to sell some, but not all, of a particular stock or mutual fund. To do this, you must have kept good records of the date and the price for each share purchase. By...
Make sure you make your RMDs! Reminder: Required minimum distributions (RMDs) must be taken by December 31. RMDs are mandatory withdrawals from certain retirement accounts, generally after you reach age 70½. You must take a withdrawal by December 31 if the rules...
Analyze Your Customers! If your business is like most, you put a lot of effort into attracting new customers. After all, that’s an essential part of growing the business. But sometimes it’s more productive to step back and review your existing customers, and perhaps...
Beware of the Wash Sale Rules If you sell a security before the end of 2012 to take advantage of a capital loss, be aware of the wash sale rules. To make sure the loss is deductible, refrain from buying the same security or a substantially identical security during...
