Tax

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RETIREMENT TAX JUN 15, 2009
IRS causes taxpayer errors, says Treasury report

The Internal Revenue Service could help taxpayers reduce errors by clarifying instructions and improving the layout of Form 1040, a Treasury Department report released today charged.

RETIREMENT LIFE INSURANCE AND ANNUITIES JUN 09, 2009
Bill would let seniors take retirement funds through annuity

Retirees would be able to take a portion of their retirement savings in the form of an annuity if a bill introduced today by Rep. Earl Pomeroy, D-N.D., were passed into law.

RETIREMENT REGULATION AND LEGISLATION JUN 04, 2009
IRS to seek more regulation of tax preparers

The IRS is working on new rules that could require paid tax preparers to be licensed to improve tax compliance and reduce fraud, IRS Commissioner Doug Shulman announced today.

RETIREMENT TAX JUN 02, 2009
IRS provides guidance on taxation of life insurance policy surrenders, sales and purchases

Your client is considering either a surrender or sale of a life insurance policy and asks about the income tax consequences.

RETIREMENT TAX MAY 31, 2009
Investors and Obama's tax plan

The Department of the Treasury's recently re-leased “Green Book” describes in detail the revenue proposals contained in the president's budget for fiscal-year 2010.

RETIREMENT TAX MAY 27, 2009
Tax-wise home improvements

Your clients have filed their 2008 federal and state tax returns. Now, you and the couple are wondering whether there are any improvement to their home they could make that would help them taxwise.

RETIREMENT TAX MAY 24, 2009
Memo to the government: Dead people don't spend

In an effort to energize the economy, stimulus checks are being mailed to millions of people. Unfortunately, thousands of the recipients are dead.

RETIREMENT RETIREMENT PLANNING MAY 24, 2009
Solvency of Social Security, Medicare worries advisers

Just when market conditions appear to be stabilizing, financial advisers now have something else to keep them awake at night: Both Social Security and Medicare are on a pace to disappear even sooner than expected.

RETIREMENT LIFE INSURANCE AND ANNUITIES MAY 24, 2009
With clock ticking, some urge clients to establish GRATs

Wealth managers and tax attorneys are advising wealthy clients who may need to minimize gift and estate tax payments to consider taking advantage of a popular tax-planning tool while they still can.

RETIREMENT TAX MAY 19, 2009
Status of the AMT patch

Your clients are sitting on the edge of their seats, anxiously awaiting word of how the alternative minimum tax will affect them.

RETIREMENT RIAS MAY 17, 2009
Let's rebuild retirement's three legs

For decades, the U.S. retirement system was described as a three-legged stool.

RETIREMENT TAX MAY 12, 2009
Tax substantiation of charitable deductions

This is a good time during the year to discuss the Internal Revenue Service deductibility rules for charitable contributions with clients, as they are all probably being inundated with mail and telephone solicitations for donations.

RETIREMENT LIFE INSURANCE AND ANNUITIES MAY 12, 2009
Obama administration targets estates, insurance in 2010 budget

More than $24 billion in additional estate taxes would have to be paid from fiscal 2010 to fiscal 2019 under a budget proposal for the next fiscal year released Monday by the Obama administration.

RETIREMENT REGULATION AND LEGISLATION MAY 05, 2009
Obama's corporate tax proposal panned by advocacy group

President Obama&#8217;s <a href= http://ciedit.cr.atl.publicus.com/apps/pbcs.dll/article?AID=/20090504/FREE/905049995&amp;NoCache=1>proposal</a> to rein in tax deferrals for U.S. corporations doing business overseas will have a negative impact on the ability of financial services firms to compete worldwide, according to the Financial Services Roundtable.

RETIREMENT TAX MAY 05, 2009
Are new car tax incentives worth it?

Car dealers are heavily promoting new car sales. Your client is thinking this might be the right time to buy and wants to know whether the tax incentives for buying a new car are worth it.

RETIREMENT TAX MAY 05, 2009
Online giving making gains, but at a slower pace

While charitable giving using the Internet continues to rise, the pace is slowing down due to the recession, according to a survey published yesterday by The Chronicle of Philanthropy.

RETIREMENT TAX MAY 04, 2009
Obama to crack down on business taxes

When is a dividend not a dividend?
RETIREMENT TAX MAY 03, 2009
When is a dividend not a dividend?

Some dividends aren't dividends at all. Sometimes they are a distribution known as a return of capital, which are actually returns <i>of </i>an investment instead of returns <i>on </i>an investment.

RETIREMENT TAX MAY 03, 2009
Tax system is too taxing

RETIREMENT TAX APR 29, 2009
What to do if you’ve filed taxes, but haven't paid

Your client filed her federal tax return by April 15 but did not include a check for the amount due, because she did not have funds available. She has come to you for advice as to how to proceed.