Look out America! The IRS is about to get real tough. The Internal Revenue Service is intensifying its crackdown on tax dodgers, and plans to increase the number of tax audits it will conduct next year. The IRS will be focusing on investigating taxpayers with incomes of $100,000 and above. The agency will be examining […]
In this past months edition of Fortune Small Business columnist Brian O’Reilly made this excellent analogy… Imagine for a moment that your local police set out to trap a few wily burglars but wound up clumsily ensnaring you and others, the town’s shopkeepers, factory owners, and doctors. The town officials discover they can make so […]
During the dotcom boom of the late 1990s, we were vehemently criticized on our position on looking for dividends. Conventional wisdom at the time was that we were in the “new economy” where earnings and cash flow didn’t matter, and stocks never fell. Who in their right mind would ever want to look for dividend […]
Exchange Traded Funds, or ETFs, are simply a basket of securities that trade just like stocks on the major exchanges. For individuals who want to invest in the market quickly and cheaply? ETFs are the most practical vehicle. They help the investor focus on what is most important, choice of asset classes. All the major […]
We have received many phone calls and e-mails from investors regarding the poor performance in their 401k plans. Unfortunately what we have discovered is that many plans are not diversified enough, they are under funded, and the fees being charged are off the charts. 401k plans tend to fall under the “set it and forget […]
Due to the tax cuts of the past few years it is important that individuals take a hard look at the tax implications of their portfolios. Certain assets that were prudent to hold in taxable and taxdeferred accounts need to be rebalanced based on the rule changes. For example: tax rates on qualified dividends and […]
After plenty of new tax legislation in 2001 and 2003, Congress has not enacted any major new tax changes for 2005. What we have left for this year is essentially leftover legislation that will continue to be phased in until 2010. The leftovers include the rollout of the Roth 401K discussed earlier and these other […]
On October 22, 2004, President Bush signed the American Jobs Creation Act of 2004 (AJCA). The AJCA has allowed for some beneficial changes for both business and personal filers. Unfortunately many of our new clients are completely unaware and unprepared for the new deductions. Don’t worry it isn’t too late yet! Manufacturing Deduction THE AJCA […]
Starting next year, workers may have access to a new 401K savings option which is directed at decreasing their tax burden in retirement. Highly paid individuals are most likely to see the greatest benefit from the new Roth 401K. The Roth 401K combines elements of the standard 401K, which is often invested in mutual funds, […]
Sisyphus was the founder and king of Corinth. He was known as being a very crafty fellow throughout his life but he saved his greatest triumph for last. When the god Hades came to claim him personally for the kingdom of the dead he brought a pair of handcuffs with him which at the time […]