Category Archives: Individual
Mortgage Debt Relief
It has been tough keeping up with all the passed and proposed tax law changes in recent weeks. I’ll keep you updated as well as I can, consistent with my desire not to clutter up your inbox. However, I thought … Continue reading
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First-Time Homebuyer Credit
Before you dismiss this post out-of-hand because you have owned a home before, you should consider it if you bought a new home in 2008, or you may buy one in 2009. The definition of “first-time homebuyer” is important. You … Continue reading
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The Stimulus Act Business Summary
In a separate post, which most of you have received, I have published a brief summary of the recently enacted American Recovery and Reinvestment Tax Act of 2009 (also known as the Stimulus Act) as it applies to individuals. This … Continue reading
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The Economic Stimulus Bill
It has been hard to write about the recently enacted American Recovery and Reinvestment Act of 2009 (the Stimulus Bill), because it is so terribly disappointing. I didn’t like it when I first read it, neither the market nor the … Continue reading
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Report of Foreign Bank and Financial Accounts
As this is being written, the House and Senate are considering compromise economic stimulus legislation. The result may be available later this week. While I have been monitoring the separate bills as they have progressed through Congress, I have not … Continue reading
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Favorable Qualified Tuition Plan Changes
Among the tax disappointments of 2008, one bright gem occurred late in the year. This change affects those parents, grandparents, aunts, uncles, friends, beneficiaries, and others who have established or plan to benefit from Qualified Tuition Programs (also known as … Continue reading
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Required Minimum Distributions for 2009
Well, the holidays are over, decorations are down, 2008 has been put to bed (thankfully; hope it stays down) and life begins to return to normal with high expectations for the new year. The 111th Congress goes to work this … Continue reading
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Holiday Greetings!
My very best wishes to you and your family for a Merry Christmas and a wonderful holiday season. I pray that your 2009 will be blessed and every day filled with love. Ronnie
Year-End Charitable Contribution Planning
The Internal Revenue Service recently offered tips for year-end charitable contributions. You may want to review these in order to get the expected tax benefit from your donations. An IRA owner, age 70-½ or over, can directly transfer tax-free up … Continue reading
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S Corporation Shareholder Wages
The Internal Revenue Service recently issued a fact sheet regarding shareholder-employee compensation from an S corporation. Tax advisors commonly advise S corporation shareholder-employees to pay themselves minimum compensation in the form of “wages” subject to Social Security and Medicare taxes, … Continue reading
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