Hire a Pro or Do it Yourself – the Best Way to File Taxes
Does it feel like you just finished last year’s taxes? Well, believe it or not it’s almost time to do it again. Every year the tax laws and policies change, so each year you will have to be aware of these changes and additions. However, there are some things that never seem to change. With that in mind let’s review some of the top tax tips for year-end tax planning.
Most Retirement Plan Dollar Limits Increase for 2007
Most Retirement Plan Dollar Limits Increase for 2007 IRS has announced the 2007 cost-of-living adjustments (COLAs) for retirement plans. Many of the limits applicable to pension, and other retirement plans, increase for 2007. For most of the limitations, the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. Increased limits. The…
Banks Are Reaping the Benefits From Inversions
Banks Are Reaping the Benefits From Inversions Up until now, most of the attention regarding tax inversions has been put on the companies that have been choosing to make these deals. After all, it’s the companies that are saving a bunch of money on their taxes and supposedly cheating the U.S. Treasury out of more…
Simplified per-diem rates boosted for post-September 30 business travel
Simplified per-diem rates boosted for post-September 30 business travel Simplified per-diem rates boosted for post-September 30 business travel Rev Proc 2006-41, 2006-43 IRB Many companies use per-diem rates to reimburse their employees for business travel expenses rather than requiring employees to submit receipts for their expenditure. The IRS recently increased the simplified per-diem rate (high-low…
A Creative Plan to Help Lighten Your Tax Load
A Creative Plan to Help Lighten Your Tax Load Everyone likes to save as much as they can on their taxes every year. Of course, this is a noble goal and everyone should be doing exactly that. Likewise, everyone likes to keep his or her tax return as easy and simple as possible, which is…