A reader recently wrote in to ask the following about Vanguard Admiral Share conversions: “We’re getting close to being able to convert our Vanguard mutual funds to Admiral Shares. We’re pretty excited about this, but I’m also a little worried. Are there any tax consequences that I should be aware [...]
Tax Tips & Strategies
None other than Benjamin Franklin once said “Certainty? In this world nothing is certain but death and taxes.”
I’m not sure about you, but I’ve always felt an obligation to pay all that’s legally due but not a penny more.
If you’re looking for tax tips and strategies, then you’re in the right place.
Topics of interest include income tax brackets, tax deductions and credits, sales and use taxes, property taxes, the estate tax, capital gains taxes, tax prep, IRS news and policies, and more. If it’s tax-related, this is where you’ll find it.
As a quick followup to my earlier post on the impact of the internet sales tax, I wanted to share with you the list of states that do not (currently) collect sales and use taxes. As of this writing, there are five such states, including: Alaska, Delaware, Montana, New Hampshire, [...]
I mentioned the internet sales tax debate in passing about six weeks ago. At the time, the Senate was talking about giving states more power to collect sales taxes. Ultimately, they wound up voting on a non-binding measure in support of doing just that. And it passed easily, with bi-partisan [...]
One of the big pieces of news out of President Obama’s budget proposal was a proposed cap on retirement accounts. You may have heard rumblings about this in the form of a possible $3M limit on balances across all of your retirement accounts. Today I want to shed a bit [...]
Tax day is three weeks away. This means that you have two weeks to fund an IRA and have it count toward the 2012 contribution limit. If at all possible, you should do this. Why? Because once the window closes, you can’t go back and make up for a missed [...]
Taxes are due four weeks from today. You should thus have plenty of time to get things pulled together before the deadline. But if you don’t make it, all is not lost. You can always request an income tax filing extension. Yes, that’s right. A filing extension. In case you [...]
In honor of Sequestration Day I thought I’d highlight the results of a recent study from the Institute of Taxation and Economic Policy. As I’m sure you’re aware, there’s pressure in a number of states to reduce or abolish personal income taxes. In general, the argument in favor of doing [...]