| Hi, Website Visitor. Here are this weeks ' best practices ' articles from Wertz & Company. Please contact us with questions. |
| Wertz & Company Announcements |
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| New Economic Stimulus Plan Signed Into Law |
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| In early February, Congress passed the Economic Stimulus Act of 2008, which President Bush signed on February 13th. The centerpiece of the new law is a provision authorizing tax rebates that will be sent to eligible individuals beginning in May. But the legislation also contains valuable tax breaks for businesses. Here are the rebate details, including who qualifies, how much they will get, why large families really benefit, and how some taxpayers will get a second chance to collect cash next year. |
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| Tax Deductions for Transporting 'Tools of the Trade' |
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| As you may know, the cost of commuting back and forth from work is not a deductible expense, whether you travel by car, train, bus or even plane. However, there are several exceptions to this general rule. For example, you may be able to deduct certain commuting costs while you’re operating on a temporary assignment or if you’re traveling between two business locations. Click Full Article to learn about another exception |
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| New Benefits for Working Military Families |
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Amendments to the Family and Medical Leave Act (FMLA) extend new benefits to qualifying military families. There are two new reasons that allow family members of military personnel to take unpaid time off from work -- and one provision took effect on January 28, 2008. For more information on the changes and employer obligations under the FMLA, click "Full Article."
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| Give Away Your Potential Tax Liability |
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With some careful planning, you can give away part of your wealth to family members and loved ones, reducing your estate and potential tax bill. Here are the basics of lifetime gifting.
Copyright © 2009 |
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| Can You Have Too Much Money in Tax-Deferred IRAs? |
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 Deferring taxes to the maximum extent allowed is usually the smart course of action, according to conventional wisdom. That means keeping as much money as possible in accounts such as traditional IRAs for as long as possible. But for some people, deferring taxes to the max is no longer be productive given the current tax rate outlook. Click "Full Article" to learn why you can have too much tax deferral in some cases, as well as alternative savings strategies that can help you keep mo
Copyright © 2009 |
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