| 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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| Capital Gains Can Trigger the AMT |
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Realizing large long-term capital gains may trigger the alternative minimum tax (AMT). While the AMT was originally designed to prevent wealthy taxpayers from escaping tax liability through the extensive use of loopholes, it now affects large groups of middle-class taxpayers. If you are in danger of being hit by the tax due to investment moves, here are some steps that might help. |
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| Sleep Deprivation Threatens Productivity and Health |
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| Sleep-deprived employees can cost your organization ... through absenteeism, on-the-job accidents, poor performance and frequent illnesses due to weakened immune systems. What can employers do? Click "Full Article" for some possible strategies. |
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| Who Benefits From the New 'Heroes Tax Act?' |
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| The Heroes Earnings Assistance and Relief Tax Act of 2008 was signed into law by President Bush on June 17, 2008. The main focus of the new law is to provide tax relief to members of the armed forces, although there are also provisions affecting others, including onerous new rules aimed at high-income individuals who relinquish U.S. citizenship or residency to avoid taxation. Here are highlights of the Heroes Tax Act. |
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| Rescue Act includes Tax Breaks |
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 Rescue Act includes Tax Breaks for individuals and businesses. The Emergency Economic Stabilization Act of 2008 (EESA) is designed to address the current U.S. credit crisis. But this "rescue" act also extends and expands a multitude of tax breaks for individuals and businesses that had already expired or were set to expire after this year, including many energy related incentives. In additions, ir provides relief for natural disaster victims in the Midwest, Lousiana and Texas. |
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| The New Law: A Detailed Look at Personal Tax Changes |
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 The massive new federal "bailout" law contains nearly 300 changes to the tax code. Who benefits? A variety of individual taxpayers including those who were threatened by the alternative minimum tax, homeowners installing green energy sources, parents of college students, people who exercised incentive stock options, as well as many others. Click "Full Article" for a detailed look at some of the personal tax breaks included in the Emergency Economic Stabilization Act of 2008.
Copyright © 2009 |
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| Naming Your Grandchildren as IRA Beneficiaries |
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 Some people don't consider designating their grandchildren as beneficiaries of their retirement accounts because they don't want to pay the generation-skipping transfer tax. Fortunately, this tax may not apply and your family can still benefit from leaving IRA money to grandchildren in certain circumstances. Here are the details.
Copyright © 2009 |
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| Tax Court Tightens Exception for Education Withdrawals |
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 In general, you can't take early distributions from your IRA without paying a penalty. But there are exceptions. For example, you can take out money to pay "qualified higher education expenses." Does a personal computer used by a college student qualify? Find out how the Tax Court ruled on that question by clicking "Full Article."
Copyright © 2009 |
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