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Investors might face higher taxes on dividends next year

By: Tax Advisors Tax Planning Views: 4895 | Comments: 0 | Votes: 1

Tax Advisors

If the tax cuts are allowed to expire at the end of the year, stock dividends will be subject to a much higher tax. Right now, the tax on stock dividends typically is a maximum 15%. But if the Bush tax cuts expire and we revert to previous levels, dividends would be subject to an income-tax rate of as much as 39.6%. More

New FHA rules deadlines may jeopardize condo mortgages

By: Kenneth R. Harney Home Loans Views: 4887 | Comments: 0 | Votes: 0

Kenneth R. Harney

Tens of thousands of condominium unit owners around the country may not know it, but their ability to sell or refinance could be jeopardized by a rolling series of federal government deadlines. Beginning next spring, another 23,000 projects - with residential units totaling into the estimated hundreds of thousands - could lose their eligibility as well. The deadline was Tuesday. More

Uncle Sam Wants to Help You with Summer Camp Costs

By: On My Own Two Feet Tax Planning Views: 4876 | Comments: 0 | Votes: 0

On My Own Two Feet

Ask a working parent how they feel about summer and you may be surprised. Thoughts of beaches, barbeques, and balmy days at the ballpark are often overshadowed by something much less exotic – concerns about childcare. If you have children under the age of 13, and you need childcare so that you can work, look for work, or attend school full-time, you are in luck. Shepherd Dr. More

Is Your Social Security Taxable?

By: Tax Advisors Tax Planning Views: 4830 | Comments: 0 | Votes: 1

Tax Advisors

Social Security benefits are taxed depending on your total income from all sources. Here is how to calculate how much of your Social Security benefits is taxable.   Provisional Income   Provisional income is your total worldwide income, including tax-exempt income, plus half of your Social Security benefits. 2. 3. 4. More

Investment Scandals & Scams: What's Next!, Wrap Fee Investment Accounts

By: Steve Selengut Investments Views: 4797 | Comments: 0 | Votes: 0

Steve Selengut

We humans are as creative on the "Dark Side" of commercial activity as we are in developing beneficial new products and services. In the face of huge financial benefits, however, some corporate executives can't resist taking an extra dessert even before their shareholders have finished dinner. So why did the State Insurance departments cave in to the Variable Product lobby? More

Digital Risk’s Veritas System Reinvents the Credit Score

By: Kenneth R. Harney Home Loans Views: 4737 | Comments: 0 | Votes: 2

Kenneth R. Harney

Do you ever get the feeling that your credit score doesn’t adequately portray your true risk as an applicant for a home mortgage? If your FICO score is a subpar 690 but you know that you are a solid candidate for a loan, do you think that lenders’ heavy dependence on credit scores is unfair to you as an individual? You’ve got some company. The jury is out. More

Why It's Worth Paying for a Tax Pro

By: File Your Taxes Online Tax Planning Views: 4677 | Comments: 0 | Votes: 0

File Your Taxes Online

To save money last year, Anthony Fasano tried preparing his new business's first tax return on his own. Then reality sank in. "I realized I really had no understanding of the tax laws from a business standpoint," says Mr. Fasano, founder of Powerful Purpose Associates, an executive-coaching company he runs out of his home in Ridgewood, N.J. "I was just winging it." Mr. Fasano. Hall. Ms. More

Pending lawsuits against 30 banks over overdraft fees.

By: Art Of Saving Personal Finance Views: 4676 | Comments: 0 | Votes: 2

Art Of Saving

Bank customers fighting high overdraft fees got a boost on Tuesday with a win in federal court in California against Wells Fargo, but that case has limited legal impact.   A similar federal court case filed in Florida against 30 banks including Wells Fargo, Bank of America, Citibank and others could mean much more.   In the California decision, U.S. More

Security Breaches Found at Payroll Services Firm

By: Matthew Barrett Payroll Views: 4648 | Comments: 0 | Votes: 0

Matthew Barrett

Security Breaches Found at Payroll Services Firm A payroll service provider is working with federal investigators to uncover the cause of two security breaches that recently compromised the company's systems through phishing e-mails and phantom employees. The breaches caused the provider to shut down its web service twice over the past several weeks. 23 and Oct. 14. 1. 5. More

What is a “Reasonable Salary Compensation?”

By: Steven Leibold, EA Tax Planning Views: 4643 | Comments: 0 | Votes: 0

Steven Leibold, EA

  Who's an Employee of the Corporation? Generally, an officer of a corporation is an employee of the corporation.   Treasury regulations provide an exception for an officer of a corporation who does not perform any services or who performs only minor services and who neither receives nor is entitled to receive, directly or indirectly, any remuneration. More