Clients frequently ask us about the tax effects of government savings bonds they have in their house or safe deposit box.  When this question comes up, it’s usually in the context of estate planning.  To give an appropriate answer, we need to gather some facts:

• What type of bonds are they?
• Who is the legal owner of the bonds?
• When were the bonds issued and when do they mature?
• What is the interest rate earned? more…

This is a familiar question a client or potential client will ask us.  Some of the more common situations in need of a tax identification number are:

• Starting a business that will have employees
• Having a corporation
• Having a qualified retirement plan with $100,000 or more of plan assets
• Opening an estate
• Having a trust that is required to file a tax return more…

January 31, 2010 is the deadline to furnish Form 1099-MISC to recipients.  The 1099-MISC form is used to report more than two dozen types of payments that must be claimed as income by the recipient.  more…