The Roth IRA Conversion Window – A Planning Opportunity
July 29, 2009 | 
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Beginning January 1, 2010, for the first time, there will be temporary lift of the income limits on Roth IRAs. That means anyone can start a Roth IRA, or convert their current traditional IRAs into Roth IRAs, regardless of income levels.
There is usually an income cap on the Roth IRA.
Childcare Expenses and Credits
July 15, 2009 | Subscribe to our RSS Feed
Many parents who work or are looking for work must arrange for care of their children under 13 years of age during the school vacation.
Here are five facts the IRS wants you to know about a tax credit available for child care expenses. The Child and Dependent Care Credit is available for expenses incurred during the lazy hazy days of summer and throughout the rest of the year.
Tax Breaks Expiring in 2009
July 10, 2009 | Subscribe to our RSS Feed
With all the provisions, expirations and extensions in the tax code, it is difficult to keep track. Here is a snapshot of some of the provisions set to expire this year:
Green Tax Credits
June 23, 2009 | Subscribe to our RSS Feed
Going Green? Energy efficiency is on everyone’s mind and was even a platform run on by President Obama. The Government is working hard to incentivize businesses and individuals to go Green. There are several tax credits available for purchasing energy efficient products. Some of the tax credits are new while others are just improved. For individuals, many Energy Star products qualify:
The Proposed Cell Phone Tax
June 15, 2009 | Subscribe to our RSS Feed
The IRS has recently proposed taxing employees up to 25% of the value of their work cell phone.
A 1989 law treats employer-provided cell phones as a taxable fringe benefit, so this new proposal is to make it easier to enforce this law. However, several issues arise, making it seem more of a burden to employers and employees, rather than a clarification or simplification.