Consider Bunching Deductions to Save on Taxes Getting the most benefit from tax deductions requires multi-year planning as well as consideration of the alternative minimum tax (AMT). The multi-year part involves “bunching” your expenses. That’s a strategy where you...
Some 2013 Increases/Decreases Some numbers for 2013 I thought you might find interesting. * SOCIAL SECURITY taxable wage limit increases from 2012 limit of $110,100 to $113,700 for 2013. Retirees under full retirement age can earn up to $15,120 without losing...
Converting to a Roth IRA If you convert a traditional IRA to a Roth, there’s a price to pay. Converted amounts attributable to tax-deductible contributions, plus all of the earnings, are taxable at ordinary income rates. To lessen the tax hit, you may choose to...
Tax Planning is Important According to a recent report from the Treasury Department, the IRS is stepping up its audit efforts with a focus towards tax evasion. Many of these situations can be avoided by simply sitting down with your accountant before the end of the...
Do you know of anyone who has started up a business this year? Did you know that, according to the SBA, over half of start up companies fail in the 1st 3 yrs because of a lack of knowledge and planning. We have the experience and knowledge to help startups with the...
Time is Running Out for 2012! Time is running out to make tax-saving moves for 2012. Here’s a sampling of ideas to consider. * Maximize the contributions to your employer’s tax-deferred retirement savings plan, thereby saving taxes immediately and deferring taxes on...
