You may have heard that the estate tax has been eliminated. It hasn’t been. You may have heard that estate taxes apply only to the wealthy. They don’t.
To file a U.S. tax return you do need an Individual Taxpayer Identification Number (ITIN) for every person listed on that tax return. Filing a return is not a choice, but an obligation for all who earn income in the United States regardless of their legal status.
Unlike the 2008 version of the First-Time Home Buyer Credit, this one does not have to be repaid unless you sell the home or stop using it as your main residence.
There are plenty of reasons for discouraged investors to hang in and look to the future, but it’s also important to have an understanding of what happened during the past decade. And understanding the past decade begins with a look at the decades that preceded it.
Though good tax planning can take weeks and even months, there are some last-minute things you can do now to lower your 2009 tax bill.
Business leaders who don’t begin to focus on how to thrive in the new economic reality simply won’t. Worse, survival strategies get shakier the longer the need to engage in them.
Effective in 2010, there will be no income limitation on Roth IRA conversions. As a result, many people should review their situation to determine if a conversion would be beneficial for them and would help them achieve their long-term financial goals.
Convert without fear of making the wrong decision. Perhaps you were in a higher tax bracket than you thought. Perhaps your Roth IRA declined in value, creating more taxes than necessary.
You have about eight weeks to impact your 2009 revenue with your marketing programs. No need to give up on the year, although 2010 is at our doorstep and you do need to also focus now on a strong start to the New Year.
With most of the stimulus dollars expected to be doled out in 2010, combined with record levels of cash held by investors earning close to zero, there is still a lot of liquidity headed into the economy and investment markets. Whether that means continued investment growth is debatable, but we are a long way from September 2008.
