December

What's New in Taxes

New law changes deduction rules for donating vehicles to charity
If you donate a used vehicle to charity, you are allowed to take a tax deduction for your generosity, but only if you itemize deductions on your tax return.

Nine steps to consider to reduce your 2004 taxes
1. Drain your flexible spending account (FSA).

New study recommends heeding customer complaints
A new survey of how customers felt their complaints about a product or service were handled provides important information for your business.

Spam gets a partner in "spit"
Tired of spam? Then you'll be happy to hear about a recent court victory in the battle against junk e-mail.

Credit Card Tips
Earning high interest on your money and other wise money management may well be within your grasp.

November

Major Tax Deadlines
During November: It's wise to estimate your 2004 income tax liability and review your options for minimizing your 2004 taxes.

Another tax bill is passed
In October Congress passed a second piece of tax legislation, this one called the American Jobs Creation Act of 2004.

Does selling on eBay interest the IRS?
You've set your price, uploaded a photo, and established an account so you can accept online payment.

New numbers let you compare your company's benefit costs
The Labor Department recently published the cost of employee benefits paid by businesses for the twelve months ended June 2004.

Insurance covers new risks
Anyone who has checked out the cost of college knows that tuition bills can be staggering.

"Check 21" makes changes you need to know
Check 21.

October

Major Tax Deadlines
October 15 - Deadline for filing 2003 individual tax returns on second extensions.<

Major Tax Deadlines
October 15 - Deadline for filing 2003 individual tax returns on second extensions.<

IRS interest rates increase
The IRS recently announced that interest rates for tax overpayments and underpayments will increase for the fourth quarter of 2004 (October 1 through December 31, 2004).<

Congress extends tax breaks
On September 23, 2004, Congress passed tax legislation to extend through 2010 the $1,000 child tax credit, marriage penalty relief, and expanded 10% income tax bracket.

Look for tax breaks to help with college costs
Yesterday's kindergartner is today's college freshman — and you have the tuition bill proving it.

Overtime rules still not settled
New overtime rules went into effect on August 23, 2004.

"Use it or lose it" rule may change
Many employers offer flexible spending accounts (FSAs) that allow employees to set aside money that can be used to pay expenses such as child care and medical bills with pre-tax dollars.

Watch out for one more credit card scam
The scam artists are still at it.

September

You can deduct more college costs this year
If you're faced with college expenses this fall, be aware that the deduction for qualified tuition and fees increased this year.

Check out the tax breaks when you suffer a loss
Capital loss.

Congress may extend larger expensing limit
The House passed a bill that would extend through 2007 the current $102,000 expensing limit for the purchase of business equipment.

In a decision that could affect health care costs for many individuals, Health and Human Services Secretary Tommy Thompson announced that Medicare will no longer refuse to classify obesity as an illness. This could lead to Medicare coverage of anti-obesity treatments that are proven to be effective.
In a decision that could affect health care costs for many individuals, Health and Human Services Secretary Tommy Thompson announced that Medicare will no longer refuse to classify obesity as an illness.

A reverse mortgage
If you own your home and are age 62 or older, you could qualify for a reverse mortgage.<

July

Shift income for family tax savings
The strategy is simple in concept, and has long been a staple with high-income taxpayers: shift your high tax bracket income to other family members who are in lower tax brackets.

June

Major Tax Deadlines
June 15 - Second quarter 2004 individual estimated tax is due.<

Luxury vehicle depreciation limits released for 2004
The IRS has released the luxury vehicle depreciation caps for vehicles first placed in service in 2004.

Studies show health care will be major cost in retirement
The Employee Benefits Research Institute, a Washington nonprofit organization, estimates that health care costs for retirees will be five times higher than most individuals think they will be.<

Getting hooked by a scam artist could be costly
They come by mail, by phone, and by e-mail.

April

Major Tax Deadlines
April 1 - Deadline for taking your first required IRA distribution if you turned 70½ in 2003.

Unclaimed refunds are lost after three years
The IRS says that about two million taxpayers will lose $2.5

Don't overlook tax planning in a divorce
In the midst of a divorce, the last thing you may want to think about is taxes.

Appeals court upholds legality of Do Not Call list
Millions of consumers added their phone numbers to the national "do not call" registry after it opened last July.

U.S. Treasury announces an end to HH bonds
After August 31, 2004, Series HH savings bonds will no longer be issued, according to an announcement by the Treasury Department.

You have many options for IRA investments
Do the assets in your individual retirement account complement your overall financial strategy? If not, it may be time to take a look at what's available.<

March

Major Tax Deadlines
March 1 - Payors must file information returns (such as 1099s) with the IRS.*

Taxpayer problem identified
The Taxpayer Advocate Service, an independent organization within the IRS, said in its annual report to Congress that the number one problem facing taxpayers is the alternative minimum tax.

Your dependents can cut your tax bill
There are many ways that you can slash your taxes by making the maximum use of your dependents.

Popular loan program is discontinued
The Small Business Administration was forced to temporarily discontinue one of its loan programs that helped provide capital to start-up businesses.

Car loans add to heavy debt load
It appears that cars are partly responsible for the ever-increasing debt load American households are taking on.

Consider the tax issues in real estate investing
Historically low interest rates have led to a boom in home buying — and a corresponding leap in home prices — in many markets throughout the country.

February

Major Tax Deadlines
February 2 - Employers must furnish W-2 statements to employees.

IRS cautions taxpayers about donating vehicles
It's estimated that over 4,000 charities are aggressively soliciting contributions of vehicles.

Military Tax Relief Act signed into law
Last November, President Bush signed the Military Family Tax Relief Act of 2003 providing a number of important tax breaks for those in the armed forces.

Leap year creates payroll problem
If you pay your salaried employees weekly or biweekly on Thursday or Friday, you have a decision to make.<

Take steps to make 2004 a good year
Make 2004 a better year than last by tidying up your financial and tax house.

Don't cash out the equity in your home just because it's there
With today's low interest rates, homeowners have been flocking to refinance their mortgages.

January

Major Tax Deadlines
January 15 - Final 2003 individual estimated tax payment is due, unless 2003 tax return is filed and taxes are paid in full by February 2, 2004.

New Medicare law creates tax-favored savings accounts
On December 8, 2003, President Bush signed into law a Medicare prescription drug bill that included new health savings accounts for taxpayers under age 65.

How to decide what records to keep and what to toss
Deciding which records to keep and for how long can be a confusing process.

Congress ended 2003 with unfinished business
Though Congress did pass a Medicare law that provides prescription drug benefits to seniors, it adjourned for 2003 without passing several other pending bills that may be of interest to your business.<

Baby boomers get bad news
Just a few years ago there were predictions that the baby boomers would inherit trillions of dollars from their well-to-do parents.

What every estate plan should include
What every estate plan should include

You work hard providing for your loved ones during your life.