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File Taxes for Free – It’s Easy as 1-2-3!

By: Sharman G. Lawson Tax Planning Views: 41445 | Comments: 2 | Votes: 0

Sharman G. Lawson

File Taxes for Free – It’s Easy as 1-2-3! By Sharman G. Lawson   It’s that time of the year that most people dread and wish would go away – It’s tax time!  Have you done your taxes yet?  Did you pay someone to prepare them?  I’m here to tell you that what you don’t know can hurt you.   Have you prepared your taxes yet? Sharman G. More

When is the Dog Deductible?

By: Kerry Freeman EA Tax Planning Views: 36215 | Comments: 2 | Votes: 1

Kerry Freeman EA

  Telling the IRS that your dog ate your return won’t get you off the hook for paying your 2006 federal income taxes, due April 17 this year. And even though she depends on you for all of her support, you are really asking for trouble if you try to claim the pooch as a dependent.   What about those animals that provide a real service to businesses? More

Health Insurance Explained

By: Thomas J. Hartfield Insurance Views: 28625 | Comments: 1 | Votes: 0

Thomas J. Hartfield

By: Thomas J. Hartfield   Health Insurance Explained   Healthcare has changed since the days of family doctors and house calls. Today the rising cost of everything from prescription drugs to diagnostic treatments has us turning to managed care networks for workable health care solutions. Whenever you have a medical need, you’ll have three “point of service” choices. More

Beware of paying for a credit fix: It's a scam

By: Kenneth R. Harney Home Loans Views: 27830 | Comments: 1 | Votes: 1

Kenneth R. Harney

WASHINGTON – Picture this: You're eager to take advantage of today's troubled real estate market and buy a foreclosed house at a fire-sale price. The problem is you don't have much money for a down payment. And your credit files are scuffed up with late payments. But can they really do what they claim? According to a complaint by the FTC filed in U.S. William I. Kenneth R. More

Roth IRA Basics and Benefits

By: Bogie Boric Retirement Planning Views: 26530 | Comments: 1 | Votes: 0

Bogie Boric

The Roth IRA is one of the smartest saving and retirement planning tools available to investors. Unlike the traditional IRA or 401K, contributions to the Roth IRA are not tax deductible, but the benefit of the Roth IRA is the ability to make withdrawals tax-free when you retire.  • Contributions may be made after age 70 ½ as long as you have earned income. More

How Should I Manage My Retirement Plan?

By: Thomas J. Hartfield Financial Planning Views: 22486 | Comments: 1 | Votes: 0

Thomas J. Hartfield

How Should I Manage My Retirement Plan?   Employer-sponsored retirement plans are more valuable than ever. The money in them grows tax deferred until it is withdrawn at retirement. Distributions from a tax-deferred retirement plan, such as a 401(k) plan, are taxed as ordinary income and may be subject to an additional 10-percent federal tax penalty if withdrawn prior to age 59 ½. More

What Tax Deductions Are Still Available to Me?

By: Thomas J. Hartfield Tax Planning Views: 20279 | Comments: 1 | Votes: 0

Thomas J. Hartfield

What Tax Deductions Are Still Available to Me? When Congress changed the tax codes with the Tax Reform Act of 1986, it eliminated many of the deductions that enabled many people to avoid paying income taxes. The revision was very thorough. However, for those taxpayers who itemize, some key deductions remain. Your tax advisor will be able to tell you exactly what’s deductible for you. More

Homeowners get mortgage debt relief

By: Steven Leibold, EA Tax Planning Views: 16048 | Comments: 0 | Votes: 0

Steven Leibold, EA

Congress often rushes to pass legislation just before adjourning for a holiday or recessing for the year, and 2007 was no exception. One of these last-minute bills was the "Mortgage Forgiveness Debt Relief Act of 2007," which President Bush signed into law on December 20. The amount of debt forgiven reduces the tax basis in the home. Steven C. More

Age limit for "kiddie tax" to go up again

By: Steven Leibold, EA Tax Planning Views: 14748 | Comments: 0 | Votes: 0

Steven Leibold, EA

Do your children have savings accounts or other investments held in their own name? If so, the tax on those investments could change. That's because recent tax legislation will expand the "kiddie tax" to cover children up to age 19 starting in 2008. For full-time students, the age limit will be even higher - up to age 24. Prior to 2006, the kiddie tax applied up to age 14. Steven C. More

Viewing an Investment Strategy through a New Pair of Glasses

By: Patrick A. Driscoll Investments Views: 14375 | Comments: 1 | Votes: 0

Patrick A. Driscoll

The following is an article written by Robert Kiyosaki who is the author of the book “Rich Dad Poor Dad”. Robert Kiyosaki has an interesting view on investing that I wanted to share with our readers. Tax season always means a deluge of tax advice. Unfortunately, most of it is futile and lightweight. Try getting excited about living on $250 when you're old. It also needed repairs. More