Home Energy Credits Back For 2009 Only
A new tax law in 2006 allowed homeowners to claim credits for purchases that make their homes more efficient. This law was originally only for purchases or improvements made in 2006 and 2007, but has been extended by the Emergency Economic Stabilization Act of 2008 to include 2009 (not sure why...
Watch Out for Capital Gain Distributions in 2008
Despite widespread stock market losses in 2008, several mutual fund companies have announced that they will make capital gain distributions to shareholders in mid-December. This is a double whammy to investors because shareholders who hold mutual funds in taxable accounts must pay taxes on those...
Donating Your RMD To Charity – Law Extended for 2008 & 2009
Update: The Tax Relief Act of 2010 extends the ability to donate your RMD to charity for both 2010 and 2011. For more information, please read "Yes You CAN Donate Your 2010 RMD to Charity". The Pension Protection Act of 2006 allows IRA owners age 70 1/2 or older to make direct transfers of up to...
Say Goodbye to 2008 with Some Smart Tax Moves
December's a busy month with holiday preparations, but it's not too late to focus on last-minute tax savings. Consult with your tax professional to see if these might work for you: Do an AMT sweep: One of the reasons why it's wise to consult a tax adviser before you start accelerating deductions...
Get Your Charitable Donations Lined Up Before The Holidays
There's a special sinking feeling as you approach Dec. 31 and realize you've done no tax planning whatsoever. That includes big issues like end-of-the-year investment decisions, and the smaller ones - like that stuff you no longer use piling up in the basement. Charitable giving is an important...
When the Road to Investing Gets Bumpy
Investing in the stock market is a lot like driving on a long road trip. At some point, you’re going to run into pot holes and rough patches. When that happens, you should definitely drive with more caution, but you have to keep on going if you want to reach your destination. Similarly, if...