Although most Americans will not have to worry about 2012 taxes until early 2013 when 2012 tax returns are due, self-employed individuals or anyone who must pay quarterly tax payments will want to plan ahead.
And there’s good news for those that do. The IRS recently announced cost-of-living adjustments for the 2012 tax year that bump up brackets, deductions, and other thresholds for inflation.
The following is a summary of the key changes for 2012. Click here to read more.
After factoring in federal income and capital gains taxes, the alternative minimum tax, and potential state and local taxes, your investments’ returns in any given year may be reduced by 40% or more. Here are five ways to potentially lower your tax bill.1Click here to read more.
1This information is general in nature and is not meant as tax advice. Always consult a qualified tax advisor for information as to how taxes may affect your particular situation.
If you have inherited an estate from a loved one, it’s important to understand how these assets are likely to be taxed. The amount of federal estate tax that is levied typically is determined by the amount of assets within the estate and the relationship of the heirs to the deceased. Read More.
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