Countdown to Filing: There’s Still Time to Contribute to an IRA or SEP

Saving for retirementSaving for retirement is essential for financial security. Fortunately, the government provides tax incentives. You still have time to contribute to an IRA, Roth IRA or SEP plan for the 2012 tax year — before the April 15 tax filing deadline. You can possibly reduce your tax bill and help make your retirement more secure. Working teens can also contribute and build savings for the future. Find out about  the basic rules, deadlines and strategies. If you’re getting a refund, you have several options for receiving it. Read the full article here.

Hiring Your Child Can Have Tax Advantages

Summer is approaching quickly, which means teenagers will be looking for summer jobs.  If you own a business, it can be a wise move to place your child on the payroll. Below are some positive tax outcomes from hiring your child into your family business: Continue reading

It’s Time to Start Planning for 2012 Taxes!

Tax Day for 2011 has come and gone and while you may think gathering tax documents and evaluating your finances will be off your mind for another year, planning for your income taxes is a year round exercise. It never hurts to be prepared and stay organized throughout the year to ensure when 2012’s tax day arrives, you are ready and have everything in place. Below are some helpful tips to think about in order to prepare for next year’s tax filing and keep your finances in check for the year to come: Continue reading