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Molehill to Mountain - Part Two
photo credit: Paul Keleher
I can’t believe that the year is almost half over already. However, now is a good time to do some preventive maintenance regarding your taxes. Rather than being surprised with a huge refund or even worse, a huge tax bill, next April, take a little time this week to get a [...]
Saving for Retirement
People often ask in what order should they utilize the various retirement accounts/options. Below is my take on the matter.
Stage 0 - Have an e-fund (at least 3 months’ expenses) in place - This should be your first priority so that when (not if) the unexpected happens, you don’t have to accrue debt.
Stage 1 - [...]
Super Saturday! IRS Offers Free Assistance
By now, I’m sure most everyone has heard about the economic stimulus package. However, you have to file a 2007 tax return in order to be eligible (in addition to income requirements). If you’re someone who wouldn’t typically file but will this year to get the stimulus package, the IRS is willing to help.
The IRS [...]
The Second Step to Financial Success
2/27 - Edited to add a great link about selecting disability insurance - http://www.getrichslowly.org/blog/2008/02/27/the-disability-insurance-maze-how-to-select-and-purchase-a-policy/
Yesterday, I discussed the first step to financial success. Click here for that post. Now that you’ve defined your financial mission, the second step of your journey is to establish goals. Your goals can be short-term (within five years) or long-term (five [...]
Tell Your Story to BusinessWeek Magazine
From Brian Burnsed of BusinessWeek magazine -
I’m Brian Burnsed, a reporter with BusinessWeek magazine. I’m working on a story for the magazine about how hectic tax season can be and how it can sometimes become a source of contention among couples. I was wondering if any of you find that during tax season you and [...]
More Tax Changes for 2007
There are a number of changes in the tax code for 2007. Below I’ve highlighted the ones that will affect the most people.
AMT exemption - The amount for AMT exemption has been raised for one year only. The new limits are $66,250 for married filing jointly, $33,125 for married filing separately and $44,350 for single [...]
Tax Changes for Domestic Partners
Five states, as well as the District of Columbia, now allow same-sex couples to file joint income tax returns. Connecticut, Massachusetts and Vermont allowed for joint returns in previous years but 2007 is the first year it’s allowable in California, the District of Columbia and New Jersey.
However, the process can be a bit complicated. Same-sex [...]