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Resource online Advisor Archive 2003

December

MajorTax Deadlines
December 31 - Last day to set up a Keogh or 401(k) retirement plan for 2003.

Tax numbers released for 2004
This is the time of year when the IRS and other government agencies begin releasing inflation-adjusted tax numbers that will become effective in 2004.

Getting older brings new tax concerns
As retirement nears, the tax issues you face begin to change.

Mileage rates up for 2004
According to the IRS, the standard mileage rate for business driving will increase from the 2003 rate of 36 cents a mile to 37.5

Don't fall victim to "quick fix" promises
The IRS, the Federal Trade Commission, and state regulators are warning consumers about credit counseling organizations that are preying on individuals struggling to get their debt under control.<

Consider money and time in making financial decisions
When making financial decisions, do you consider the time value of money? If you have a basic understanding of time-value concepts, you'll be able to make better choices in many business and personal financial situations.<

November

Major Tax Deadlines
During November: It's wise to estimate your 2003 income tax liability and review your options for minimizing your 2003 taxes.

IRS gives relief to disaster victims
The IRS recently announced special tax relief for certain taxpayers affected by Hurricane Isabel or the California wildfires.

SUV tax break may be cut
Business owners got a big break in the 2003 tax law — an increase in the amount that can be expensed in the first year a piece of business equipment is purchased.

What's worse than identity theft?
It's hard to imagine a scam that's worse than identity theft.

How to be smart when you inherit money
If you're fortunate enough to receive an inheritance, you have some important decisions to make.

October

Major Tax Deadlines
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October 15 - Deadline for filing 2002 individual tax returns on second extensions.<

The IRS makes health care less costly for some
If you have a flexible spending account (FSA) to pay for medical expenses with pre-tax dollars, the IRS has good news for you.<

Pay attention to taxes before lending money to relatives
You have the money, and someone in your family needs assistance.

Act now if you want to lower your 2003 tax bill
There is very little time left to take steps to reduce your tax bill for 2003.

IRS extends depreciation deadline to December 31
In March 2002, tax legislation was passed allowing businesses to take 30% bonus depreciation for new equipment purchases made after September 10, 2001.

Credit card companies offer rewards for not paying your bill
What's this? Credit card companies don't want you to pay? That's right.

Teach your children about money
Teaching your children to be money-smart is one of the greatest gifts you can give them.

Teach your children about money
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On May 28, President Bush signed the Jobs and Growth Tax Relief Reconciliation Act of 2003 providing major tax cuts to American taxpayers.

Be charitable and cut your taxes
Volunteering your time for charity is a great way to help others and also to generate some tax benefits for yourself.

Study shows female-owned businesses are thriving
A recent study, partly funded by the company Pitney Bowes, shows that female-owned businesses are growing in number and profitability.<

Watch for lower rates on student loans
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Interest rates on federal student loans are expected to fall this summer  perhaps to as low as 3.4

Look for winning features when buying stocks
Seasoned investors and new investors alike want to pick winning stocks.

May

Major Tax Deadlines
May 15 - Deadline for calendar-year exempt organizations to file 2002 information returns.

What's New in Taxes
The IRS has announced a new standard meal and snack deduction rate that will lessen the recordkeeping burden for taxpayers who provide daycare services in their homes.<

Act now to make this year less taxing
Taxes make up the single largest expense for many American households, so it pays to keep them under control.

Small business identifies its biggest problem
Health care costs for employees has been named by small businesses as their biggest problem, according to surveys by the National Federation of Independent Business.<

Many workers still own too much company stock
Despite recent corporate scandals, employees are showing a reluctance to cut back on the amount of company stock they own.

Consider bonds for your portfolio
Due to the turmoil in the stock market, you may be reluctant to commit money to stocks.

March

Major Tax Deadlines
March 3 - Farmers and fishermen who did not make 2002 estimated tax payments must file 2002 tax returns and pay taxes in full.

More audits proposed
The proposed 2004 budget (for the fiscal year starting October, 2003) for the Internal Revenue Service includes increased funding for the agency's audit and collection activities.<

There's good news in recent IRS rules on home sales
Recently, the IRS issued rules clarifying the circumstances under which taxpayers can sell a home and not be taxed on the profit.

Start-up businesses fail less often
If the widely held belief that 90% of businesses fail in their first year has kept you from starting a business, here's good news.

Bush's proposals could alter the savings scene
If President Bush has his way, the current — and often confusing — array of college and retirement savings accounts will be reorganized and simplified.<

Planning to retire? You can't have your cake and eat it too
Current economic conditions and extended life expectancies have led many people to reconsider their retirement plans.

 
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