Category IRS
If you get a random e-mail from IRS concerning a tax refund… delete it.
“If you get a random e-mail from IRS concerning a tax refund… delete it. It’s a scam, the Service warns. The e-mail tricks people into opening a link by saying that incorrect information was detected on their tax refund account. The link goes to a fake page where scammers try ot steal your personal information. […]
Beware of Erroneous Tax Refunds!
The IRS has issued some warnings recently about a new scam which seems especially on the rise with more tax professionals having more client data online than ever before. The scammers file a fraudulent tax return – but include the taxpayers’ real bank account information (or if they don’t file for electronic deposit of their […]
Kiddie Tax and the 2017 Tax Reform
What’s the Kiddie Tax? Under the Tax Reform Act of 1986, a new “Kiddie Tax” was introduced in order to close a loophole through which wealthy folks were getting investment income taxed at lower rates by transferring assets to their children. Under the ’86 rule, unearned income (mainly investment income like stock dividends, interest, and […]
Child and Dependent Care Tax Credit
The Child and Dependent Care Credit helps working families offset some of the cost of childcare.
Free Money! Which, sadly, only 25% of those eligible are taking…
Now that I have your attention, let’s try that again. Free Money! What we’re talking about here is the “Retirement Savings Contributions Credit”. It was first created as part of the 2001 tax cut package called the “Economic Growth and Tax Relief Reconciliation Act of 2001” and was made permanent as part of the 2006 […]
2015 IRA, 401(k) and other retirement plan contribution limits announced
By law certain retirement plan limits get adjusted every year, not exactly tracking inflation (i.e., not by the CPI) but rather in “chunks” which approximate it. For 2015, the following limits have been announced: IRA Contributions (combined limit across Roth and Traditional): $5,500IRA Catch-Up Contributions (for folks over 50): $1000[Both unchanged from 2014 and, actually, […]
A brief history of taxes in america (humor, kinda)
A brief history of taxes in america (humor, kinda) [gotta love the mustache-twirling robber barons]http://www.theawl.com/2013/04/a-brief-history-of-taxes-in-america If we cannot cry, we should at least laugh.
Ultra-Short Summary of American Taxpayer Relief Act of 2012 (HR8 as amended by the Senate)
American Taxpayer Relief Act of 2012 (HR8 as amended by the Senate) The first two items below directly affect nearly every taxpayer. The third affects anyone with earned income, and the fourth affects every married couple. The rest are much narrower in scope (ie. highest income folks, large estates, etc): All Bush-era tax rates made […]
Tax Simplification – Harvey Golub op-ed piece in the WSJ
Harvey Golub’s op-ed piece from the Wall Street Journal on June 14, 2012: http://online.wsj.com/article/SB10001424052702303768104577462353639535464.html?mod=googlenews_wsj Harvey Golub: A Simple Tax Code Is a Fair Tax Code The top 1% pays more in federal income taxes than the bottom 90%. But the system is biased toward the powerful in other ways. [some bit from the article:] The […]
BusinessWeek: 10 Strategies used by the ultra wealthy to avoid taxes
For all the silly bluster about the “Buffett rule” in Congress, the fact is that the vast majority of folks who earn a lot do pay a lot in taxes. And the very well known exceptions – such as Buffett himself claiming to pay a lower tax rate than his secretary – are due to […]
Meyers Wealth Management 