Archive for the
‘Taxation’ Category

While many people are familiar with the benefits of traditional 401(k) plans, others are not as acquainted with Roth 401(k)s.Since January 1, 2006, employers have been allowed to offer workers access to Roth 401(k) plans.1 And some have rolled out offerings as part of their retirement programs.As the name implies, Roth 401(k) plans combine features of [...]
Every year the Internal Revenue Service (IRS) releases its list of tax scams, spotlighting the myriad ways that people try to separate you from your money. 12 Tax Scams to Watch For Identity Theft Using your personal information, an identity thief can file a fraudulent tax return and claim a refund. If you’ve been a [...]

April 1, 2021

Bob Veres

News, Tax, Taxation

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You might wonder what you get in return for your tax dollars. The question isn’t so far-fetched; after all, the government collects those taxes—theoretically, at least—in order to give you back a comparable value in services like police protection, education, infrastructure and a social safety net.  Are we getting what we pay for? A recent [...]

Rich or Comfortable? What would you have to make to be a one-percenter—that is, to have an income in the upper one percent of the population—in the U.S., Singapore, China, Brazil, England or Australia?   The answer, of course, differs in every country. At the bottom of the scale, someone earning $81,000 a year in […]

November 15, 2018

Bob Veres

Lifestyle, Money, News, Tax, Taxation

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      Tax Opportunities Before Year-End Every year, U.S. taxpayers face a number of year-end deadlines which, if ignored, can be costly and even punitive. In the latter category, consider people over age 70 1/2 who forget to take the full required minimum distribution from their IRA or 401(k). If they get the calculation wrong, or […]

September 19, 2018

Bob Veres

Tax, Taxation

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Withholding Tempest in a Teapot Chances are, you’ve read an article recently telling you to be careful about the withholding in your paycheck, to make sure your employer (assuming you have one) is taking out enough money so that you won’t have a big tax obligation come April.  This is the result of a big […]

August 27, 2018

Bob Veres

Tax, Taxation

0

No End Run By now, you probably know all about the so-called SALT (state and local tax) deduction limitations imposed by the Tax Cuts and Jobs Act.  If your property, local and state taxes exceed $10,000 (couples) or $5,000 (singles), well, too bad.  That’s all you can deduct on your federal tax returns. Some of […]

Charitable Contribution Rules: 10 Years in the Making Ten years ago, the Internal Revenue Service proposed regulations that would define how to value (and prove the actual value) of non-cash donations to charity.  The regs involved things like artwork, jewelry and other possessions whose value is often in the eye of the beholder. Now, a […]