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Tips for making next year's taxes easier
April 15 has passed and your taxes are done. Was getting ready for your accountant - or doing them yourself – a frustrating hassle? Make next year's taxes easier by following these tips.
5/1/2008
Economic Stimulus Act provides major incentives for businesses
Rebate checks for individuals took the center stage for most of the coverage of the Economic Stimulus Act. But the legislation offers nearly $50 billion in temporary incentives to increase business investment. Passed in February, the new law brings back the 50 percent bonus depreciation first unveiled after Sept. 11, 2001, for all businesses and, for small businesses, nearly doubles the amount eligible for the IRC Section 179 expense deduction.
4/1/2008
Economic stimulus payments to begin in May
3/1/2008
Convert the high cost of health care to money in your pocket
As a result of the increasing cost of health insurance, consumers need to consider alternatives for paying for their health costs. Health savings accounts (HSAs), which have been available since Jan. 1, 2004, are an alternative to the traditional way of paying for health care. Under this type of health plan, consumers can actually convert dollars traditionally paid to health insurance companies to dollars in their own pockets. This can be done by allocating dollars spent for health insurance each year between a low-cost, high-deductible health plan and a HSA account to cover out of pocket health costs. The amount not used to cover out of pocket health care can accumulate and earn money in a HSA account tax free. This will effectively convert money paid to health insurance companies to “money in your pocket” without significantly changing your health care. 2/1/2008
Consider the tax benefits of purchasing a hybrid vehicle
1/1/2008
Think about next year’s student aid form now!
Although the Free Application for Federal Student Aid (FAFSA) form for the 2008-2009 academic year isn't filed until after Jan. 15, 2008, it may pay to start thinking about it now.
12/1/2007
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