It's tax season again and what a confusing time for Canadians who have not been keeping up with all the new tax rules and changes. Filing annual personal income taxes is trying enough, but combine that with the software choices and changes, well, it does not necessarily make for a pleasant experience. Among the many things there are to know when it comes time to file, there are also a few things Canadians need to not know. With so many common tax...more
IRA contributions usually affect your current taxes in positive ways. It's basically a way to save money for your retirement on a tax-free basis now (in other words, you don't pay tax on the income you plop into an IRA until you take it out), so that you'll have something to live on after you retire and no longer have an earned income. In addition to the traditional IRA, there are other IRA structures, too, such as the Roth IRA. For the purposes...more
Meade Accounting and Taxation Expedites Tax Preparation in Richmond HillDoing tax preparation can be complex, cumbersome and time consuming and Meade Accounting and Taxation [Meade Tax Help] removes those concerns by expediting tax preparation in Richmond Hill and other areas. Their tax preparation services enable clients to comply with tax laws that result to cost savings and peace of mind. Meade Tax Help achieves total client satisfaction by blending its expertise in tax preparation services with an effective personal approach.Meade Tax Help's well known tax services include tax preparation for individuals, small businesses, corporate income taxes, multi-year returns, tax audits and financial statements.Meade Tax Help tax preparation service is a safe, comforting and professional experience for individual clients in Richmond Hill and other areas. Meade's tax professionals will ensure meeting the individual client's income tax preparation needs.Meade Tax Help tax professionals intimately understand small business operations and management and this assures their expertise at small business tax preparation and the completion and filing of the necessary income tax returns. They have...more
In Part I, we discussed the different tax brackets for the Regular Tax and for the Alternative Minimum Tax, as well as the AMT exemption. For 2009 for married couples filing jointly (MFJ) the AMT exemption was $70,950. In this article we will discuss the phase-out, or loss, of the exemption as taxable income exceeds a certain threshold level. For...more
If you're like me then you spent far too much time ignoring your family last night in favor of the 2010 NFL draft on ESPN during primetime television. In years past the draft has held its most popular segment the first and second rounds on Saturday, spanning mid-morning until sometime past sunset. This was a great way to blow off an entire day's worth of chores, hanging out with buddies at a local sports bar watching the entire first round, pontificating on every draft choice like we really know our heads from a hole in the ground. I mean seriously, how are we supposed to get our Fantasy Football draft picks in order if we don't know who the new guys are?Okaya little tongue-in-cheek, but there's no question the NFL, and the NFL draft, are as much as part of the zeitgeist as IMing with your BFF. In fact, its popularity has spawned an entire industry. There are draft parties held all over the country, sports bars offer great deals on food and drink and have virtually every channel tuned to the affair, and even the teams put on a big brouhaha for the general public, or at least for invited guests.For years I attended the private draft party thrown by the Arizona Cardinals. It was...more
Few of us love paying taxes, and small time investors are not exceptional. Although we might from time to time be proud of our patriotic duty of paying taxes, we are mainly angry because of the way that we feel that the government is misusing the...more
Reducing Your TaxesThis is only a brief overview but hopefully it has started you thinking. For some, the saving might be small or, at worst, you will discover that you are now certain that you are not paying too much tax. For others, a review could...more
The organized distribution of taxes is a tradition and a concept that dates back to ancient times and has had a large impact on the creation of our democratic government in the United States. So, you would think that we should be pretty familiar with...more
Since 1913, the United States give Congress the authority to collect a federal income tax from people who work in the United States. This requires them to give part of their paychecks each year to the federal government. The yearly filed return is to...more
Changes have been consistently made to the federal tax policies throughout the years. This can be very confusing to those who have to fill out the taxes every year.The tax relief reconciliation act of 2003 made some significant changes to the federal...more