Finance RSS Feed

Tax Changes for 2011

Chuck Chuckuemeka — Tue, 06 Dec 2011 19:29:00 EST

Whether you file as an individual, a corporation, a small business owner, or are self-employed, as the end of the year draws near, you're probably thinking ahead to tax season and filing your taxes.

Most tax provisions of course, remain the same (IRA contribution limits for example), but a few such as personal exemptions have been adjusted for inflation and others have been extended due to legislation and are set to expire at the end of 2012.

Changes in Tax Brackets and Benefits for 2010

Chuck Chuckuemeka — Tue, 19 Jan 2010 18:03:00 EST

For 2010, personal exemptions and standard deductions will change only slightly to reflect inflation adjustments. Many levels will remain consistent with 2009.

IRS Helps Financially Distressed Taxpayers

Chuck Chuckuemeka — Wed, 04 Mar 2009 12:48:00 EST

The Internal Revenue Service has announced a number of new steps to help financially distressed taxpayers maximize their refunds and speed payments while providing additional help to people struggling to meet their tax obligations.

Tax Tips: Delay Home Energy Efficiency Improvements

Chuck Chuckuemeka — Sun, 07 Dec 2008 05:52:00 EST

If possible, delay energy efficient home improvement projects into 2009 to receive a tax credit. In October 2008, President Bush signed the 'Emergency Economic Stabilization Act of 2008'. This law extends the tax credit for energy-efficient existing home improvements for 2009.

Keys to Providing Health Insurance Benefits

Chuck Chuckuemeka — Fri, 31 Oct 2008 05:17:00 EST

Employee benefits play an increasingly important role in the lives of employees and their families, and have a significant financial and administrative impact on a business. Most companies operate in an environment in which an educated work force has come to expect a comprehensive benefits program.

Employee Relocation in a Tightening Real Estate Market

Chuck Chuckuemeka — Wed, 01 Oct 2008 05:11:00 EST

Many companies are asking �What to do about an employee�s home when he or she is moved to a new job location? This is an increasing tough and costly question with the real estate market tightening throughout much of the country.

Financial Tips for September

Chuck Chuckuemeka — Tue, 09 Sep 2008 01:20:00 EST

Below are these month's financial tips.

Credit Reports-- What You Should Know

Chuck Chuckuemeka — Tue, 19 Aug 2008 15:28:00 EST

How do lenders determine who is approved for a credit card, mortgage, or car loan? Why are some individuals flooded with credit card offers while others get turned down routinely?

Household Employees and Withholding Taxes

Chuck Chuckuemeka — Thu, 03 Jul 2008 17:36:00 EST

If you employ someone to work for you around your house, it is important to consider the tax implications of this arrangement. While many people disregard the need to pay taxes on household employees, they do so at the risk of stiff tax penalties. As you will see, these rules are quite complex, even for such a relatively minor employee, and a mistake can bring on tax headaches.

Spring Cleaning: Tax Records You Can Throw Away

Chuck Chuckuemeka — Fri, 02 May 2008 03:50:00 EST

Spring is a great time to clean out that growing mountain of tax and financial papers that clutters your home and office. Here's what you need to keep and what you canthrow out without fearing the wrath of the IRS.

Getting The Most From Auto Expenses

Chuck Chuckuemeka — Tue, 01 Apr 2008 01:18:00 EST

If you use a car for business, you have two choices for claiming deductions:

Tips for Deducting Charitable Contributions

Chuck Chuckuemeka — Wed, 06 Feb 2008 15:41:00 EST

When preparing to file your federal tax return, don't forget your contributions to charitable organizations. Your donations could add up to a sizeable tax deduction if you itemize on IRS Form 1040, Schedule A.

Should You File a Tax Return?

Chuck Chuckuemeka — Fri, 14 Dec 2007 07:59:00 EST

You must file a tax return if your income is above a certain level. The amount varies depending on filing status, age and the type of income you receive.

The IRS uses the following income thresholds to determine whether you must file a federal income tax return for 2007.

Back-to-School Tax Breaks

Chuck Chuckuemeka — Tue, 02 Oct 2007 17:26:00 EST

The start of the school year is a good time to remind parents, students and teachers to save all receipts related to tax-advantaged education expenses. Good recordkeeping is essential and helps to avoid missing a deduction or credit at tax time.

IRS Audits on the Rise

Chuck Chuckuemeka — Fri, 31 Aug 2007 19:00:00 EST

The IRS announced that it made strong progress in a number of key enforcement categories during FY 2006. The IRS collected a record $48.7 billion in enforcement revenues during FY 2006.

Saving For College with 529 Plans

Chuck Chuckuemeka — Wed, 01 Aug 2007 14:46:00 EST

As another school year ends, college tuition payments are now another year closer. Parents often wonder when they should start saving and how much.

�Use It or Lose it" Health Plan Alternatives

Chuck Chuckuemeka — Mon, 02 Jul 2007 10:54:00 EST

Employees often grumble about their "use it or lose it" health plans. In this article we'll give you some alternatives to consider.

Homeowner Records: What to Keep and How Long

Chuck Chuckuemeka — Thu, 31 May 2007 01:45:00 EST

Keeping full and accurate homeowner records is vital for determining not only your home deductions but also the basis or adjusted basis of your home. These records include your purchase contract and settlement papers if you bought the property or other objective evidence if you acquired it by gift, inheritance, or similar means.

When to Review Your Life Insurance Coverage

Chuck Chuckuemeka — Fri, 04 May 2007 12:10:00 EST

It makes good financial sense to periodically examine your life insurance coverage, in order to make sure the coverage is still sufficient. After all, life insurance is often a family’s most important financial and estate planning tool.

2007 Inflation Adjustments Widen Tax Brackets, Expand Tax Benefits

Chuck Chuckuemeka — Mon, 01 Jan 2007 14:08:00 EST