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The Roth 401(k) Plan…It’s Becoming a More Popular Retirement Plan

Posted in Tax News on February 11, 2010

The Roth 401(k) plan is becoming a more popular retirement plan option offered by employers.  This has become the foundation for many people’s retirement plan.  Unlike a traditional 401(k) plan where contributions are made pre-taxed, contributions to a Roth 401(k)…

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Donation Danger! Proceed with Caution!

Posted in Tax News on January 29, 2010

Guest Post by Stephen Pedneault, CPA, CFF, CFE Each time a tragedy strikes in the world, many people feel a strong sense of wanting to help the victims in any way possible.  There is a huge outpouring of support from around…

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Roth IRA…The Ultimate Retirement Tax Tool

Posted in Tax News on January 22, 2010

Last week we discussed the IRA.  This week we’ll talk about the Roth IRA. Who is eligible for a Roth IRA? You need to have earned income at least up to the amount of the contribution. There is a phase…

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Happy New Tax Year!

Posted in Tax News on January 8, 2010

The book is closed on 2009.  The year 2010 begins with optimism and too many New Year’s resolutions.  Sales of gym memberships, diet schemes, and how-to-quit-smoking plans peak at this time of year.

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1099 Reporting Guidelines

Posted in Tax News on December 24, 2009

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. 

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