Category Archives: Taxes

So You’ve Filed Your 2012 Taxes . . .

What should you do with the copies of your returns and the supporting tax documentation once you have filed your taxes?  Generally, the government has three years from the due date of the return, or any extension, to audit your … Continue reading

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IRS Releases 2013 Contribution Limits

The IRS has raised the contribution limits for most 401(k)s, 403(b)s, and 457 plans to $17,500 for 2013, up from $17,000 in 2012.  Further, employees who are over 50 can contribute an additional $5,500 as a catch-up contribution to their … Continue reading

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Two Small Business Tax Credits for Tax Year 2012

The Internal Revenue Service (IRS) is continuing to promote two small business tax credits that are available to certain businesses that satisfy the programs’ criteria.  The first credit is an expanded credit for hiring veterans and the second credit is … Continue reading

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Can’t Contribute Directly To A Roth IRA? Don’t Worry, You Can Still Make Roth Contributions.

Tens of millions of taxpayers have either just filed their 2011 tax returns or have filed for an extension.  Many of these same taxpayers discovered that they were prohibited, for one reason or another, from directly making Roth IRA contributions. … Continue reading

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Like Many Other Deceased Musicians, Whitney Houston’s Estate Stands To Continue Earning Income

Like many other famous musicians, Whitney Houston had many financial difficulties in her life.  However, even after her death, her estate could be earning a considerable amount of annual income for years to come.  While some of the estate’s royalties … Continue reading

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Tax Breaks: Here Today, Gone Tomorrow?

Much has been written and debated about the payroll tax cut extension passed by the U.S. Congress late in 2011.  Much less has been written about all of the other popular credits and deductions that were not extended along with … Continue reading

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Will Your January 2012 Paycheck Be Smaller? UPDATED DECEMBER 28, 2011

UPDATE: Congress, eight days before its scheduled expiration, passed a two-month extension of the payroll tax-cut.  Lawmakers on both sides of the debate will once again pick up the negotiations for a longer-term deal early in 2012. The two percentage … Continue reading

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