Tag Archives: savings

Idea of the Week #6

If you are considering converting to a Roth IRA before the end of the year call us today and let us help you by preparing a detailed report to assist in your decision making.  Remember conversions done before the end … Continue reading

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Proposed Extension of Bush Era Tax Cuts

As reported by the Wall Street Journal in this morning’s paper below is a brief synopsis of the proposed tax cuts in the tax bill currently being decided on by Congress: All taxpayers (1)  Two-year extension of current tax rates … Continue reading

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Deduct Medical Premiums for SE Tax

Individuals who are self-employed may deduct their health insurance premiums in the calculation of self employment income on 2010 tax returns. Self-employment income is taxed at 15.3% so this will be a major benefit to self-employed individuals. -EAE

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2010 Year End Gift Tax Tips

Taxpayers can transfer substantial amounts free of gift taxes to their children or other donees (gift receivers) through the proper use of the following exclusion. (You’re probably aware that the estate tax has been repealed for 2010, but is scheduled … Continue reading

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Newsletter Signup

We just finished the 2010 tax season and are starting a newsletter to help our clients and future clients stay on top of the major issues facing them.  We will be sending out a newsletter periodically to all who sign … Continue reading

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EAE Tax Bites

The tax bill for small businesses looks like it will be passed very soon. Some of the items which will affect you are as follows: 1. You may expense up to $500,000 of assets placed in service in 2010 and … Continue reading

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Estate & Gift Planning 2010 Style

How do you plan estate tax futures with the uncertainty reflected in our Washington politics? As of now, even though we at Estes Armstrong Earley think some form of the old estate tax rules of 2009 will go forward, we … Continue reading

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Social Security Credit on Quarterly Payroll Report

If you haven’t been taking advantage of the the credit on Form 941 for the employer’s share of Social Security taxes for qualified employees you should immediately. This change was passed earlier in the year in the HIRE Act of … Continue reading

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Idea of the Week #3

Take a look at your dividend paying stocks before the end of 2010.  Dividend tax rates might be on the rise next year if the Bush tax cuts expire.

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Idea of the Week #2

Mortgage interest rates are very low at the moment which is a prime time to consider refinancing.  Call around today and check with banks in your area.  You might be surprised at how much money you can save! EAE

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CIRCULAR 230 DISCLAIMER: ADVICE, ARTICLES AND COMMENTARY INCLUDED HEREIN DO NOT CONSTITUTE AN OPINION AND ARE NOT INTENDED OR WRITTEN TO BE USED, AND THEY CANNOT BE USED, BY ANY TAXPAYER FOR THE PURPOSE OF AVOIDING PENALTIES THAT MAY BE IMPOSED ON THE TAXPAYER.