ID Analytics’ Offers Tips on How to Safeguard Your Identity
ID Analytics recommends consumers follow ten tax time tips to protect their personal information from identity thieves. Tax season is quickly approaching and many Americans have already begun receiving W-2’s and official forms that contain sensitive financial information, including income details, Social Security numbers (SSN) and [...]
Taxpayers May Overlook Hundreds to Thousands in Combined Federal and State Deductions or Rebates, Industry Leader Advises
Many Americans with long-term care insurance are learning Uncle Sam may give them a hefty deduction for their premiums; but many fail to realize their state may grant an additional deduction or credit. “If you can double your money, [...]
If you’re unemployed, there are a few twists and turns in the tax code that can work to your benefit, according to CCH, a Wolters Kluwer business and a leading provider of tax, accounting and audit information, software and services (CCHGroup.com).
1. You can exclude up to $2,400 of unemployment compensation from your 2009 gross income. [...]
The Illinois CPA Society Shares What’s New for Filing Your 2009 Return
A little knowledge could save you money on your 2009 taxes. Filing a tax return is more complicated than usual this year because of the large number of new and expanded deductions and credits; they can work to your advantage if you understand [...]
Taxpayers May Overlook Hundreds to Thousands of Dollars Per Year, Industry Leader Advises
Want to keep more of your money in these challenging times? Then check with your tax advisor if you have long term care insurance. You may be able to deduct a big chunk of your 2009 premiums. What if you don’t have long [...]
In January, taxpayers receive the most important tax form of the year – Form W-2, Wage and Tax Statement. Your 2009 income tax and future social security and Medicare benefits are based on it, so its accuracy is vital to short- and long-term financial health.
The American Payroll Association, the nation’s leader in payroll education, offers [...]
Steps taken by the American Recovery and Reinvestment Act to stimulate spending and grant targeted tax relief had a major impact on several IRS Code provisions in 2009. Further efforts to stimulate the economy led to the extension and expansion of a few of the more popular credits and deductions with tax consequences that are [...]
As year-end approaches, many employees are faced with an array of choices that can save taxes this year and next. To help you take advantage of these special tax-saving opportunities, William E. Massey, Senior Tax Analyst at Thomson Reuters, highlights the following key year-end planning considerations for employees:
Health flexible spending accounts (Health FSAs). Many employees [...]
A change in the federal tax law, effective January 1, 2010, will permit Roth IRA conversions for taxpayers at all income levels. In the past, this option was only available to those with an adjusted gross income of $100,000 or less.
“Taxpayers may now convert part, or all of their assets from a traditional IRA into [...]
Road map to Tax Savings from Thomson Reuters Tax Analyst
Do you need a new car but worry about making a big-ticket purchase during tough times? Switch gears and get that new vehicle, says Laurie Asch, Senior Tax Analyst for the Tax & Accounting business of Thomson Reuters. Legislation passed earlier this year to jump-start the [...]