Archive for January, 2009
2008 Federal Income Tax Changes
There are many changes in the 2008 tax filing, here are some important one discussed. You must refer to IRS publication if you need more detail. Hopefully this will serve as a guideline for you to pick one that applies to you.
· First-time homebuyer credit. You may be eligible to claim a credit of [...]
Earned Income Credit (EIC) Tax Information
The earned income credit, also known as the EIC, is a very important tax credit to accept in your federal tax return if you qualify for it. The EIC will help you to reduce the amount of money you owe in taxes or give you a bigger refund. However, it is important to make sure [...]
IRS Tax Filing Guide
You can lower your taxes by filing taxes on your own. Tax that you will be paying can be lowered when you do research on your own. You are the best judge of your tax deductible resources than outsider or a tax preparer service. You know how much sales tax and state taxes [...]
USA Retirement Plans Glossary of Terms
IRA: This individual retirement account that is funded with before tax money. That means this is a tax-qualified retirement savings account and it is maintained by employee and is not sponsored or contributed to by an employer. That means you can deduct the amount you contribute from your income giving you tax savings in the [...]
When Should You Think About Taxes?
When Should You Think About Taxes?
Most people will answer “in the beginning of the year and around April”. That is a wrong answer. One should think about taxes all the time. Last minute awakening will not help you gain benefit of all the deductions that you are entitled to.
Tips that you should remember
You must prepare [...]
New Year Resolution Should Include 401(k) checkup
Lot of people have 401K savings plan for their retirement, however only few understand it’s devastating effect if proper information is not provided to the plan organizer. I urge you to use this New Year’s time to assess your retirement plan. To ensure that you do not miss out on your retirement planning, review the [...]
