If you’re planning to make a 2010 Roth conversion, you’re going to be given an interesting choice on your Roth conversion and when to pay tax: pay the taxes now or spread the Roth conversion taxes over two years. Roth Conversion When to Pay Tax? For 2010 Roth conversions, your options of when to pay [...]
What will the 2011 tax rates be? Lots of things could happen with the 2011 tax brackets, but whatever the changes are, they will impact your tax planning this year. 2011 Tax Rate Changes There are many things that could happen with the 2011 tax rates. Congress could let all of the 2001 Bush tax [...]
Are you scrambling to finish filing in time for the tax deadline? Did you remember to file taxes for your kids? Since we opened multiple accounts at ING to get $25 Sign Up Bonuses for our kids, they’re earning interest on their accounts, which reminded me to check into the kids tax filing rules. (Signing [...]
Suffice it to say, over the past two years the IRS has made it more of a priority to recoup the money it is owed by individuals and businesses who are not truthfully reporting their earnings. And who can blame them? With the United States debt growing to over $12.5 trillion dollars, it seems only [...]
We all know that we must pay both income and social security taxes on employment income as well as any contract labor. But the IRS levies income taxes on some other sources of income too – some more surprising than others. If you received a windfall or other unexpected funds in 2010, chances are the [...]
