There are two ways you can file tax returns if you are married: married filing jointly, or married filing separately. Many married couples file joint tax returns each year and experience either a marriage bonus or a marriage penalty for doing so. The penalty occurs if putting two people’s income together increases their earnings and [...]
We recently answered questions about Flexible Spending Accounts. Used correctly, Flexible Spending Accounts (and their closely-related cousins, Health Savings Accounts) are a great way to save on health care costs by paying for them with pre-tax money. If you want to contribute to an FSA, you do so by electing to have a certain amount [...]
It’s open enrollment time! Time to add up your health care expenses and try to guess how much money you should put in your flexible spending account! Let’s take a look at some of the questions I get around flexible spending account (FSA) plans and ease the process of enrolling in your plan this year. [...]
If you were impacted by Hurricane Irene, you may be eligible for disaster area tax relief. The IRS is providing disaster relief to individuals and businesses in certain states and counties in the form of a tax extension to give people a little more time to put their finances in order after the devastation caused [...]
Will the Payroll Tax Cut Be Extended?
Posted byThe 2011 Payroll Tax Cut is set to expire at the end of this year. Based on the current state of our economy, will the payroll tax cut will be extended for another year? Will we see a payroll tax cut 2012? The Payroll Tax Cut The payroll tax cut, also called the payroll tax [...]
