Posts Tagged ‘Social Security’


How to Pay Your Estimated Taxes

Paying cash

 

Many taxpayers are employees and have their income taxes withheld from their paycheck.  Every April 15th they need to settle up with Uncle Sam and their state tax department.

 

Other taxpayers may not be employees or have taxes withheld from their earnings.  These folks would need to file quarterly estimated taxes. This could include the self-employed, partners in partnerships … Continue reading »


3 Reasons I Encouraged My Son to Open a Roth IRA

I recently suggested to my son that he open a Roth IRA.  Here are the 3 reasons why.

 

 1) He’s Young

The Roth IRA offers a huge advantage over a regular IRA. This is particularly so for younger people.  With the IRA you are (generally) allowed a tax deduction for this.  The IRA grows tax deferred. You can begin to take distributions after age 59 1/2 without penalty.  You must begin taking distributions after … Continue reading »


4 Easy Steps to File Your Income Tax Extension

Your 2012 income tax return is due on April 15, 2013. What if you can’t get it done on time? Here are 4 easy steps to file your income tax extension.

 

 

1) Prepare a Tax Projection


Why the Fiscal Cliff is Fiscally Irresponsible

 

The Federal Government and the country are set to go off the Fiscal Cliff on New Year’s Day.

 

The term Fiscal Cliff refers to number of laws that if they remain unchanged, could result in significant tax increases and spending cuts.

 


Connecticut Joins Pact on Employee Misclassification Initiative

The misclassification of employees as independent contractors, presents a serious issue for affected employees, employers, and to the economy. Misclassified employees are often denied access to critical benefits and protections such as family and medical leave, overtime, minimum wage and unemployment insurance. Employee misclassification as independent contractors, also generates substantial losses to the Treasury and the Social Security and Medicare funds, as well as to state unemployment insurance and workers compensation funds.


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