Are your retirement dollars with your former employer? They shouldn't be!

Deduction Tips for Contributors to Haiti Relief Effort

Haiti Contributions Deductible on 2009 Return - Congress has passed a bill (HR 4462) to permit taxpayers contributing to Haitian relief charities to elect to treat contributions made after Jan. 11, 2010, and before Mar. 1, 2010, as if the contributions had been made on Dec. 31, 2009. If the election is made, Haiti relief donations would be deductible on the 2009 return, not the 2010 return. (Read More)

Direct Deposit Puts Your Money in Your Pocket...Faster

Don’t wait around for a paper check. Have your federal tax and state (if applicable) refund deposited directly into your bank account. Choosing direct deposit is a secure and convenient way to get your money in your pocket faster. (Read More)

To File or Not To File

A frequent question asked is whether or not an individual needs to file a tax return. There are two issues associated with this question. (Read More)

A Little Help for Your Friends

In these troubling financial times, many individuals are struggling to do their own taxes. Some need guidance with their tax and financial issues, while others would like to take advantage of the vast number of new tax benefits available in 2010 and subsequent years. (Read More)

What's Best…Tax-Free or Taxable Interest Income?

A frequent tax strategy question is whether it is better to invest for tax-free or taxable interest. Generally, taxable interest will provide the greater return, but this may not hold true after taking into account taxes on the income. Therefore, the question is really which provides the greater "after-tax" return. (Read More)

Tax Breaks for Charity Volunteers

If you volunteer your time for a charity, you may qualify for some tax breaks. Although no tax deduction is allowed for the value of services performed for a charity, there are deductions permitted for out-of-pocket costs incurred while performing the services. (Read More)

Little-Known - But Important - Credit Card Rules for Merchants

Businesses that accept credit and debit cards must comply with privacy laws that aim to protect customer identity. There are regulations that even the most seasoned of merchants aren't always aware of. It's important for merchants, as well as consumers, to be aware of these little-known credit card rules to protect themselves and their information. (Read More)

Owner-Only Businesses Should Consider a Solo 401(k) Plan

It goes by many names: Solo 401(k), Mini 401(k) and single-participant 401(k). We will use Solo 401(k) in this article to describe probably the best type of pension plan for owner-only businesses. It provides for larger contributions, including a Roth option for a portion of the contribution, and the ability to borrow funds from the plan at reasonable rates. (Read More)

Are You Supporting Your Parents?

If you are helping support your parents, you may be having difficulty showing over half of the support for both, thus failing to qualify for the dependency exemptions (and for the beneficial head of household filing status if you are a single taxpayer). (Read More)