Tax Planning for 2010–Here’s What to Do

MAXIMIZE YOUR RETIREMENT ACCOUNT CONTRIBUTIONS If you haven’t contributed the maximum to your tax-deferred 401(k) retirement savings account, some employers allow you to catch up for the current year. For 2010, you can contribute a maximum of $16,500 (and an additional $5,500 if you’re over 50 years of age by the end of the tax …

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New Credit Card Regs – What You Need to Know

08/25/10 – You know all that junk that comes in the envelope with your credit card statement each month?  You need to start reading it, or you could be paying more than you expected for fees and interest than you ever thought possible.  The CCARD Act of 2009 went into effect this past weekend, and credit card …

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Let’s start planning!

08/24/10 – Throughout the week, I receive several emails containing newsletters to which I subscribe, and one of my favorites is actually the IRS!  Who knew?  The IRS provides so many tips and lists to help my clients save on taxes, and what better way to help them think about tax planning than to share some of …

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Virtues of a Virtual Assistant

06/11/10 – As many of you know, I’m active in several online discussion groups on LinkedIn.  Well, a question was posted from a VA – virtual assistant – about dreaded tasks you perform during the workday.  Here’s our exchange: Priscilla Walker Chief Client Task Manager @ Your Dependable VA, Inc. What’s one task you dread …

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COBRA Subsidy extension for Employers

COBRA Subsidy Eligibility Period Extended to May 31 Employers can still receive a 65% subsidy for COBRA insurance payments for workers involuntarily terminated through May 31st of this year.  Subsidies extend for up to 15 months.  This from the IRS: Workers who lose their jobs during April and May may qualify for a 65-percent subsidy on …

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Now that Tax Season is over – Audit Season begins!

Don’t Panic! Eight Things to Know If You Receive an IRS Notice  The Internal Revenue Service sends millions of letters and notices to taxpayers every year. Here are eight things taxpayers should know about IRS notices – just in case one shows up in your mailbox. Don’t panic. Call your CPA.  Even if I did not …

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01/06/10 – GUEST POST: Attorney Sandra Clapp discusses the Estate Tax

As surprising as it may sound, the federal estate tax and generation skipping transfer tax (GST) were actually repealed as of January 1, 2010.  Individual states may continue to have separate estate or inheritance tax structures, but Idaho presently has not enacted such laws.  The federal gift tax will continue in 2010 ($1,000,000 lifetime exemption …

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Tax breaks for homebuyers!

11/13/09  I have gotten several inquiries in the last few days about the main provisions of the new homebuyers’ credit included in the Worker, Homeownership and Business Assistance Act of 2009.  I decided to post the information here for all to see.  I do have an inquiry in to the IRS Stakeholder Liaison for a …

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Thank You Confirmation

Sphinn

Thank You For Confirming Your Information, You Will Now Receive: – Get the Top 10 Tips For Surviving The Recession – FREE -Free Subscription to CPABOISE’s Newsletter Download Your Free eBook Below… All of the files below are in Adobe PDF format. If you don’t have the free Acrobat reader and can’t open these files, …

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Cash for Clunkers – is it a deal?

07/28/09 – The federal government wants your gas guzzler off the road, and is willing to pay for the privelege.  So all you have to do is make a deal and drive your old car into the dealership, driving away in a new, more fuel efficient car.  Provided, that is, your trade-in value is below …

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