With all the new tax changes taking place this year, it is more important than ever to make quarterly estimated tax payments to avoid potential penalties. The tax filing deadline is upon us. The sense of relief that another 1040 form is filed is like lifting a weight from your shoulders. But wait! April 15th is also the 1st quarter estimated tax due date for 2013! So how do you …Read More
So you think you will avoid federal estate taxes? That may be so, but 21 states and the District of Columbia are also looking to tax your estate, your inheritance, or both. Where you live could make a big difference. Recently passed federal legislation increased the exemption amount before your estate pays taxes on your assets when you die. The amount for 2013 is $5.25 million. This makes most of …Read More
As Congress debates tax law changes, and we watch the give and take like its a bad soap opera the clock keeps ticking towards the end of the tax year. So what can you do? Here are some time tested tax reduction ideas. While 2012 winds down, there is still time to reduce your tax burden. Here are six ideas that can save money for most of us. Pre-tax Savings. …Read More