When You May Want to File an Optional Tax Return

Posted by Madison on November 30, 2010

There are certain times when you must file a tax return. But believe it or not, there are also times when you might want to file a tax return even though you aren’t required to do so! When to File an Optional Tax Return The IRS specifies that you may want to file a tax […]

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How to Save on Taxes This Year

Posted by Madison on October 12, 2010

It’s time to start talking about tax savings! With 4th quarter here, it is time for a reminder on some tax saving strategies, some of which will expire this year. Saving money on taxes is essentially free money, you just need to remember to claim them when you file! I suggest keeping a running list […]

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Poll: Will the Obama Tax Cuts Pass?

Posted by Madison on September 14, 2010

The clock is ticking for Congress to decide the fate on the Obama tax cuts. Will they pass in time for end of the year tax planning? As of right now, the tax brackets are up in the air, you can estimate what your taxes might look like with the 2011 tax calculator. Our current […]

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Do You Have to Pay Taxes on Unemployment?

Posted by Amanda on September 1, 2010

Losing your job can be psychologically and emotionally draining, as well as can suck the life out of your bank account. Unemployment insurance is typically a few hundred dollars a week, which is a fraction of what you used to make, and equates to a salary considered under the poverty line in the United States. […]

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2011 Tax Calculator for Income Tax Planning

Posted by Madison on August 23, 2010

The 2011 tax calculator is finally here, even though we still don’t know exactly what the current tax brackets will be. The Tax Foundation has a 2011 tax calculator that helps you project your 2011 income taxes based on all the options Congress is considering. 2011 Tax Calculator The 2011 tax calculator has 4 scenarios […]

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How to Take Charge of the Bush Tax Cuts

Posted by Madison on July 13, 2010

When the Bush Tax Cuts Expire in 2010, we’re bracing for higher Tax Rates. In addition, many of the tax cuts that we’ve come to expect over the last decade are changing. I love to plan, so here’s what I’m currently working on: 2010 Planning Moves for Expiration of Bush Tax Cuts Tax Rates. We’re […]

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Home Buyer Tax Credit Extension

Posted by Madison on July 1, 2010

The home buyer tax credit is extended until Sept. 30! For all the new home buyers panicking when they weren’t able to get their closing done by the deadline yesterday, help is on the way. The home buyer tax credit extension will apply to both first time home buyers and existing home owners originally eligible […]

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Increasing Penalties for Health Savings Accounts

Posted by Jill on June 22, 2010

We continue our in-depth look at the health care bill and how it might impact your finances. This afternoon, we’ll cover HSAs and HDHPs. I often trumpet the combination of a High Deductible Health Plan (HDHP) and Health Savings Account (HSA) as an effective way to save money on health insurance and receive a tax […]

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Flexible Spending Accounts, or FSAs, are an excellent way to pay for healthcare expenses using pre-tax money. If you take full advantage of FSAs (find out how much you should put in your FSA), you can save money on eligible expenses ranging from over-the-counter medicine to the cost of transportation to and from your doctor’s […]

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New 1099 Requirements Hiding in Health Care Bill

Posted by Jill on June 21, 2010

Over the last week, we’ve been taking an in-depth look at the health care bill and how it might impact your finances. Today we will cover the new 1099 reporting changes. Much has been written about the impact of health care reform on small businesses. But one hidden provision of the bill that has seemingly […]

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