Tag Archive: IRS

Jan 23

Tax strategies in a tough economy

By Jason Alderman For most of us, income tax calculations don’t change much from year to year. But thanks to the roller coaster economy of the past few years, many people have undergone major life changes that can have a significant impact – good or bad – on their taxable income and how they should …

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Permanent link to this article: http://www.easttexasreview.com/tax-strategies-in-a-tough-economy/

Jan 11

Understanding the Kiddie Tax

By Terry Savage   Consider this news to be another step in the Tax Accountants Full Employment Act. The latest change in the tax law: The “Kiddie Tax” now applies to much older kids! The new tax law puts a crimp in the plans of wealthy parents who had planned to gift highly appreciated stocks …

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Permanent link to this article: http://www.easttexasreview.com/understanding-the-kiddie-tax/

Jan 11

Tax deadline extended April 17

The Internal Revenue Service opened the 2012 tax filing season by announcing that taxpayers have until April 17 to file their tax returns. The IRS encourages taxpayers to e-file as it is the best way to ensure accurate tax returns and get faster refunds. Taxpayers will have until Tuesday, April 17 to file their 2011 …

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Permanent link to this article: http://www.easttexasreview.com/tax-deadline-extended-april-17/

Jan 05

Boosting your retirement plan contributions

By Jason Alderman For the first time since 2009, the IRS has increased the amount people can contribute to their 401(k) and other defined contribution plans. Effective January 1, 2012, the maximum annual contribution grows by $500 to $17,000, thanks to an increase in the Department of Labor’s Consumer Price Index for Urban Consumers (CPI-U), …

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Permanent link to this article: http://www.easttexasreview.com/boosting-your-retirement-plan-contributions/

Dec 13

How to undo a Roth IRA conversion

By Jason Alderman We’ve all suffered buyer’s remorse – say you buy something you really can’t afford or the item’s sudden drop in value make it seem, in retrospect, a poor investment. That’s what has happened to some people who’ve taken advantage of IRS rules that allow them to convert a regular IRA or 401(k) …

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Permanent link to this article: http://www.easttexasreview.com/how-to-undo-a-roth-ira-conversion/

Nov 30

Deadline nears

By Jason Alderman Reaching your 70th birthday is cause for celebration. But thanks to our quirky tax code, a potentially more important milestone arrives six months later. IRS rules say that you must begin taking required minimum distributions (RMDs) from your IRAs and other tax-deferred retirement accounts beginning in the year you reach age 70 …

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Permanent link to this article: http://www.easttexasreview.com/deadline-nears/

Nov 28

Catering to the frozen pizza lobby

Doting on the financial interests Coca Cola, ConAgra, and Del Monte instead of America’s school kids isn’t going to get the approval rating for Congress recover from an all-time low. By Jim Hightower How small-minded is Congress? How tangled-up in a right-wing ideological knot is it? How subservient to corporate lobbyists is it? The answers …

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Permanent link to this article: http://www.easttexasreview.com/catering-to-the-frozen-pizza-lobby/

Nov 16

Tax tips for holiday charitable giving

The spirit of giving seems to grow during the holiday season, and many donations are made to charitable causes at this special time of year. The IRS reminded taxpayers today to keep some important points in mind when making donations with the expectation of deducting them on a federal tax return. You can deduct donations …

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Permanent link to this article: http://www.easttexasreview.com/tax-tips-for-holiday-charitable-giving-2/

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