| 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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| International Tax: Report Foreign Account Holdings |
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The IRS has stepped up its efforts to find business and individual taxpayers who don’t report the accounts they hold in foreign financial institutions. The deadline for filing the form (if you meet certain requirements) is coming up on Monday, June 30, 2008. Failing to comply can result in stiff civil or criminal penalties under the Bank Secrecy Act. Click “Full Article” for reporting details. |
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| Getting a Fast Start on Business Deductions |
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If you are the owner of a start-up business, or your version of the American dream is to open a new venture and be your own boss, the tax code may provide assistance. Uncle Sam encourages entrepreneurship by allowing quick deduction of certain expenses. Find out more by reading the "Full Article." |
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| In Down Economy, Employees Raiding Retirement Accounts |
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 In today's sluggish economy, many employees are breaking into their 401(k)s or other retirement plans. But they should be aware of the tax consequences and the implications these actions can have on the future of those funds. Read the "Full Article" for answers to frequently asked questions about how much employees can borrow, the deductibility of interest, the difference between a hardship withdrawal and a loan, and other issues to consider.
Copyright © 2010 |
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| The Importance of Earnestly Organizing Documents |
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 Keeping track of important papers is critical to maintaining an accurate picture of your finances and ensuring that your heirs are cared for in the way you want. Here's a checklist to get started.
Copyright © 2010 |
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| Tax Lesson on Donations to Private Schools |
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 If you contribute money to a religious school or college, the amount can be tax deductible. But be careful if your child or grandchild attends the school. Here's why.
Copyright © 2010 |
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