Make 2012 a “Record Year” for Taxes
The IRS generally requires taxpayers to shoulder most of the recordkeeping responsibilities. If you have not kept the necessary tax records in the past—or if your recordkeeping has been inadequate—make…
Volume 1 Issue 6 | December 2011
Collect Miscellaneous Deductions at Year-End
The Competitive Edge, Volume 1 Issue 6 | December 2011
As the year quickly draws to a close, you may be looking to increase your itemized deductions to offset highly taxed ordinary income. What about those random expenses that often…
Pension Plan Limitations Announced for the 2012 Tax Year
The Competitive Edge, Volume 1 Issue 6 | December 2011
Recently, the Internal Revenue Service announced adjustments to the cost of living for the 2012 tax year that will affect dollar limitations for pension plans and other retirement-related taxes. Pension…
Twists and Turns to Charitable Rollovers
The Competitive Edge, Volume 1 Issue 6 | December 2011
A federal tax law passed late in 2010—the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act—extended a unique planning opportunity for certain retirees. Under this legislation, an individual age…