Tax-advantaged retirement plans allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. But annual contributions are limited by tax law, and any unused limit can’t be carried forward to make larger contributions in future years.
A common trend today in the workplace is BYOD – Bring Your Own Device – the use of personally owned smart phones and tablets in the workplace. The BYOD practice offers numerous benefits such as enhancing work flexibility and eliminating the need to carry both personal and work devices. However,…
On March 20 the IRS issued guidance providing penalty relief to both individual and business taxpayers who file for an extension of their 2012 tax return and ultimately owe additional tax — but only if they meet certain criteria.
The generation-skipping transfer (GST) tax, finalized by the “fiscal cliff” legislation, is intended to catch those trying to avoid federal gift and estate taxes by transferring their wealth to individuals more than one generation below them (i.e. grandchildren).
On January 1, 2013, Congress passed the American Taxpayer Relief Act of 2012 (ATRA) to address the “fiscal cliff” – a combination of higher taxes and forced spending cuts scheduled to go into effect in 2013.
The deadline for 2012 IRA contributions is April 15, 2013. The limit for total contributions to all IRAs generally is $5,000 ($6,000 if you were age 50 or older on December 31, 2012). Any unused limit can’t be carried forward to make larger contributions in future years.
“JOBS Act Offers Benefits for Private Companies Seeking Greater Investor Support” by Laura Roman & Dale Jensen for Midland Reporter-Telegram (March 10, 2013)