Category Archives: Personal Taxes
Obama’s midterm tax proposals
Many Americans are frustrated with the pace of the economic recovery; many Democrats are worried that their party will lose its majority in the House and Senate. As elections loom, President Obama has offered a new platform of tax initiatives … Continue reading
UGMA and UTMA accounts
If you want to save for college, you may wish to consider an UGMA or UTMA account. These custodial accounts are typically created by parents and other relatives who want to gift minors without having to set up a trust.
Good financial steps to take when you get married
Are you marrying soon? Have you recently married? As you begin your life together, it’s important for you to start planning your financial future together and putting your finances on the same page. Here are some priorities you might want … Continue reading
Which financial documents should you keep on file?
You might be surprised how many people have financial documents scattered all over the house on the kitchen table, underneath old newspapers, in the hall closet, in the basement. If this describes your financial filing system, you may have a … Continue reading
Will the Bush-era tax cuts be saved?
In July, Treasury Secretary Timothy Geithner said that very few taxpayers would be affected if the landmark tax cuts of 2001 and 2003 expired. “I do not believe it will affect growth, he calmly commented on ABC’sThis Week.1 Many legislators and … Continue reading
Will things improve for Medicare and Social Security?
Could Medicare soon be in better shape? Maybe. At the start of August, Medicare’s trustees reported to Congress that Medicare should remain financially in the black through 2029, a 12-year improvement over last year’s estimate.1 They credited the healthcare reforms carried out … Continue reading
Should you downsize for retirement?
You want to retire, and you own a large home that is nearly or fully paid off. The kids are gone, but the upkeep costs haven’t fallen. Should you retire and keep your home? Or sell your home and retire? … Continue reading
Congress gives itemizers a tax break on help for Haiti earthquake relief
2010 donations made in Jan. and Feb. can be deducted on 2009 returns if donors prefer. Eligible contributions can be made in cash or by check, credit card or cell phone text message. A copy of the cellular bill showing … Continue reading
