Continued from - Save for College – part 1:
Saving with Coverdell Education Savings Accounts.
You can contribute up to $2,000 in 2012 to a Coverdell Education Savings account (a Section 530 program formerly known as an Education IRA) for a child under 18. These contributions are not tax deductible, but grow tax-free until withdraw [...]
The July 2012 Supreme Court ruling upholding what’s collectively referred to as the “Affordable Care Act” (ACA) or “Health Care Act” has resulted in a number of changes to the US tax code. As such there are a number of tax implications for individuals and businesses. With that in mind, let’s take a cl [...]
If you’re a small business owner with fewer than 25 full-time equivalent employees you may be eligible for the small business health care credit that went into effect in 2010.
What is the credit
The small business health care tax credit, part of the Affordable Care Act enacted in 2010, is specifically targeted to help small busin [...]
On December 17, 2010, The Tax Relief, Unemployment Insurance Re-authorization and Job Creation Act of 2010 was signed into law by the President. The personal income tax provisions in this law provide for an extension of the Bush-era tax cuts which were scheduled to expire at the end of 2010. The 2010 Tax Relief Act temporarily exte [...]
With less than two months remaining in the calendar year, it’s a great time to double check your federal withholding to make sure enough taxes are being taken out of your pay.
The average refund for 2009 was $2,887, up 8 percent from 2008. Even though the Making Work Pay Tax Credit lowered tax withholding rates in 2009 and 2010 fo [...]
Each November, we like to look at the steps you can take to reduce your tax bill. This year, it’s a little ambiguous, because the Bush tax cuts and credits are set to expire at the end of 2010. If they do expire, a lot of folks will experience a significant adjustment to their tax situation.
The “Bush tax cuts” refers [...]
The IRS has provided this very important information. Please note this is directly from:
IRS Tax Tip 2010-21
Five Tips for Avoiding Refund Delays Relating to Your Economic Recovery Payment
The $250 Economic Recovery Payments that were issued in 2009 by the Social Security Administration, Department of Veterans Affairs and Railroad Re [...]
Well not the post I was hoping to get out next, but when you have days. . . . Below is a copy of an e-news release. I am busy trying to get the blog rolls up and complete today or at least for another hour or so. I hope to work on the Quotes tomorrow.
photo credit: MSVG
Seven Facts about the Non-business Energy Property [...]
This post is straight from the IRS Newswire, an IRS e-mail service. – subscribe. No I didn’t write any of this, you can get this information sent to you directly. I copied it here for you to see.
WASHINGTON — With 2009 now half over, the Internal Revenue Service reminds taxpayers to take advantage of the numerous tax breaks made [...]
First time homebuyer Credit doesn’t mean you have to actually be a first-time buyer to qualify. And personally I think credit is the wrong word too.
During the summer President Bush signed the Housing Assistance Act of 2008. It allows first-time buyers (homes) a tax “credit” to the lesser of $7,500.00 ($3,750.00 if married filling separ [...]