Year-End Planning Techniques Can Maximize Tax Savings-2013

Year-end tax planning could be especially productive this year because timely action could nail down a host of tax breaks that won't be around next year unless Congress acts to extend them, which, at the present time, looks doubtful. . .

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Year-End Planning Techniques Can Maximize Tax Savings-2011

Year-End Planning Techniques Can Maximize Tax Savings-2011There are a number of great considerations to planning for taxes prior to the end of the year-

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ROTH IRA Conversions-A Thought for 2010 and 2011

The buzz about Roth IRA conversions is getting louder. And why not? For the first time ever, higher-income taxpayers can convert their traditional IRAs into a Roth. Beginning in 2010, the prior restriction for taxpayers with an adjusted gross income (AGI) above $100,000 is eliminated. Also, you can split the tax bill for a 2010 Roth conversion evenly over 2011 and 2012. (You report 50% of the income in each of those years.)

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Should you consider converting your Traditional IRA to a Roth IRA?

This year is the first in which taxpayers may convert funds in regular IRAs (as well as qualified plan funds) to Roth IRAs regardless of their income level. What's more, taxpayers have the choice of paying the tax on the conversion when they file their 2010 returns, or deferring the tax hit on the conversion to the 2011 and 2012 tax years.

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Year-End Planning Techniques Can Maximize Tax Savings-2010

One word sums up the current tax environment — uncertainty. It's an election year, so it's not surprising that those in Washington cannot agree on how to deal with the coming sunset of the 2001 tax law.

The main issue is. . .

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Year end thoughts to save taxes!

As year-end approaches, taxpayers generally are faced with a number of choices that can save taxes this year, next year or both years. Employees too are faced with these choices. However, employees have some special considerations to take into account that retirees and other nonworking individuals don't face.

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