For everyone who has patiently waited to file your taxes, it is officially ok to file! We continually caution early filers’ due to the numerous corrected 1099’s that have become expected practice in today’s tax laws and sophisticated investment products.…
Over the weekend I ran into this quote by Judge Hand, a famous US Judge. Given the current time of year, I thought his quote very timely. By Judge Learned Hand “Anyone may arrange his affairs so that his taxes shall be…
Be careful in the reporting of tax liabilities from K-1’s that may have made their way to you in the mail from an investment holding. As a quick review a K-1 is used to report income attributed to ownership percentage generally from a…
As you probably know if you are reading this, we are avid fans of technology. We do not consider ourselves cutting edge as that sometimes has its own perils, however, we embrace the modernization of old habits, and certainly enjoy…
This year (2010 Tax Filing Year) according to the IRS, the official deadline for 2010 non-extension federal income tax filing is April 18th 2011, due to the Emancipation Holiday, which falls on the 15th of April, 2011. Early Filers Watch out: In…
For an extra bit of humor, I thought the old Rockwell song title (showing my age) might be appropriate. As of 1-1-2011 the US Federal Government (part of the Emergency Economic Stabilization Act of 2008) is now mandating purchase and sales…
The “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” better known as the 2010 Tax Cut Extensions were signed into law on December 17, 2010. The implications of this law were very far-reaching and retro-acted estate taxes for…
After watching 60 minutes for the third time and knowing it is reasonable to assume government officials speak to each other through the media, we thought it interesting to point out a few items from Bernanke’s interview on 60 minutes,…
Last night, shortly after my short cell post, President Obama made a public announcement that a “Framework” (still more to be hammered out) for the extension of tax cuts had been reached. Here are a few of the highlights: Estate…
Now that you know we have to take a Required Minimum Distributions (RMD) again this year (2010), and why; see our prior post for greater details, here is an important item for first time RMDers (just reaching 70 & 1/2). First…
