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December
Claim your tax refund
The IRS is looking for 102,840 taxpayers so that it can give them tax refunds totaling $72 million.
Tax changes ahead for businesses
Note these tax changes for 2000
Among the tax changes that you need to be aware of in 2000 are the following:
* The estate and gift tax exemption increases from $650,000 to $675,000.<
What's New in Financial Planning: The Estate Tax Rules Have Changed
The Taxpayer Relief Act of 1997 may fall short of its title, but it does provide two important changes in the area of estate and gift taxes.<
November
IRS gives more time to correct Roth mistakes
The IRS has extended the deadline for fixing incorrect Roth IRA contributions and conversions done by taxpayers in 1998.
Study reveals that frequent trades hurt investment returns
A recent study done by Terry Odean, Finance Professor at the University of California, showed that investors often think they know more than they actually do.
Women: Take steps toward financial competence
Today many women spend their day working at full-time jobs and also taking care of their families at home.
October
It's time for a tax review
If you haven't already done so, now is the time to review your 1999 income tax situation and see if there are some tax-cutting moves you could make.
Long-term care insurance: Do you need it?
It has been estimated that nearly half of all people over age 65 will require nursing home care at some point in their lives.
Fourth quarter IRS interest rates announced
Every quarter, the IRS makes an inflation-based adjustment to the interest rates it charges on overdue taxes and pays on overdue refunds.
September
Congress passes $792 billion tax cut
On August 5, 1999, both the House and Senate approved a ten-year, $792 billion tax cut.
Want more tax breaks? Cut Your AGI
In their tax planning, most people focus on increasing deductible expenses, but this is only half the battle.
August
IRS announces new disclosure rules for tax-exempt groups
Tax-exempt organizations, such as charities, hospitals, and colleges, have new disclosure rules to deal with, as of June 1999.
A strong employee training program pays off for a business
For satisfied, productive employees, invest in a strong training program.<
Retirement study reveals confusion about social security
A recently released Retirement Confidence Survey shows that people are confused about social security benefits.<
Can you avoid risk in your investments?
There are several different kinds of investment risk.<
IRS announces new disclosure rules for tax-exempt groups
Tax-exempt organizations, such as charities, hospitals, and colleges, have new disclosure rules to deal with, as of June 1999.
July
Good tax news for smokers trying to quit
The IRS recently announced that the cost of prescription drugs or programs designed to break the smoking habit can be deducted as a medical expense.<
Make the right gift to cut taxes
Making gifts of the wrong type of property can defeat your tax planning.
Major Tax Deadline for July 1999
Major Tax Deadlines
July 15 - Deadline for filing 1998 partnership returns with extensions of the April 15 deadline
August 2 - Deadline for filing retirement or employee benefit plan returns (5500 series) for plans on a calendar year.<
Get the best tax deal on that new business car
When you shop for a new car or truck, it is often tempting to accept the car dealer's offer to take your old vehicle as a trade-in, so that the exchange of vehicles is wrapped up in one transaction.<
IRS says it was wrong about Roth IRAs
Just prior to the April 15 tax filing deadline, the IRS informed taxpayers they had until April 15 to reverse Roth IRA conversions for which they didn’t qualify.
The Internet economy is booming
A report just out indicates that business on the Internet is outpacing previous estimates.
What's wrong with borrowing from your 401(k) plan?
At first glance, 401(k) loans may seem very attractive.
June
Joint Accounts Get More Protection
If you have a joint bank account, you now have more insurance protection if the bank fails.
Wedding bells ringing? Beware the marriage penalty.
Marriage brings many blessings, but a lower tax bill may not be one of them.
June 15 - Second quarter 1999 individual estimated tax is due.
June 15 - Automatic two-month extension for U.S
New rules for 1999 tax estimates
If you're required to make quarterly estimated tax payments, the second installment for 1999 is due June 15.<
Check the silver lining if you suffer a disaster
In the old saying, "Every dark cloud has a silver lining," the dark cloud could be a natural disaster and the silver lining could be the Internal Revenue Code.
New automatic extensions for plan returns
Effective immediately, the IRS will automatically approve all applications for a 2 1/2 month extension of time to file employee benefit plan returns.
Consider this new business form
Many business owners incorporate to protect their personal assets from creditors and lawsuits.
May
Major Tax Deadlines
During May, there are no major tax deadlines for individuals.<
IRS gives taxpayers a break on deducting mortgage points
The IRS recently issued a private letter ruling that lets taxpayers make a choice in deducting points paid on a home mortgage.
Use new tax rules in your 1999 planning
As you get your tax planning for 1999 underway, be aware of the many tax changes that went into effect this year.
Tax deposit rules for businesses change again. Yes, again.
The IRS has issued proposed rules that once again change the requirements for businesses that deposit federal taxes.
IRS issues new IRA reconversion rules
Many taxpayers whose IRAs are invested in stocks and mutual funds have found the current volatility in the stock market to be a problem when converting a regular IRA to a Roth IRA.
Consider municipal bonds for your investment portfolio
Municipal bonds pay interest that is exempt from federal income tax, so they might seem like great investments for everyone.
Savings bonds stop earning interest
Consider municipal bonds for your investment portfolio
Municipal bonds pay interest that is exempt from federal income tax, so they might seem like great investments for everyone.
March
IRS revises tables for group term life insurance
Employers can provide up to $50,000 of group term life insurance coverage as a nontaxable benefit for employees.
IRS releases 1999 car depreciation limits
The IRS has released the 1999 depreciation limits for business cars.
A business owner's biggest job: picking and training a successor
If you own or manage a closely held or family business and are in your late forties or older, now is the time to start planning for a successor to take over upon your retirement.<
Are Internet stocks too hot?
Alan Greenspan, the Federal Reserve Chairman, compared the current frenzy over Internet stocks to a lottery.
Financial planning for married couples doesn't have to be a hassle
If you and your spouse are like most married couples, you probably have two main financial goals: (1) living comfortably today and (2) working towards financial independence.
February
IRS sets 1999 mileage rate, then delays it
Late in 1998, the IRS announced the standard mileage rate for business driving in 1999 - a decrease from the 1998 rate of 32.5
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