If You Are “Rich” Obama Wants Your Money

  • July 20, 2009

If you were taking a wait and see approach to assessing the Obama presidency you might want to read this article by Bill Carlino of Accounting Today. In his article he describes all of the changes implemented by the Obama administration so far and several of the proposed changes. If you are "rich" according to Obama's definition be prepared!

IRS Issues New Rules For 403(b) Retirement Plans

  • July 1, 2009

written by Joe Page Changes Are Substantial While the Internal Revenue Service and Department of Labor have collectively spent a considerable...

IRS Updates COBRA Premium Assistance Guidance For Employers And Dislocated Workers

  • July 1, 2009

Many unemployed individuals want to keep their former employer-provided health insurance but the cost is too high. To help pay for COBRA continuation coverage, the American Recovery and Reinvestment Act of 2009 (2009 Recovery Act) provides a temporary subsidy. COBRA premium assistance is available for individuals who are involuntarily terminated from employment between September 1, 2008 and December 31, 2009.

Roth Conversions – Should You Wait For 2010, If At All?

  • June 30, 2009

There are a number of advantages for starting a Roth IRA account, the most important being that all the investment earnings grow tax-free, and qualified distributions are tax-free. Additionally, you can continue to make contributions to your Roth after you turn 70 1/2 and are not subject to the required minimum distribution rules. Currently, only individuals who have a modified adjusted gross income (AGI) of less than $100,000 and/or who do not file their return as "married filing separately" can contribute to a Roth IRA, or convert their traditional IRA to a Roth.

How Business Can Leverage The Tax Benefits Of Recent Stimulus Package

  • June 9, 2009

I found a great analysis of the American Reinvestment and Recovery Act of 2009 published by the AICPA this week. The analysis is titled "ARRA Part 1: How Business Can Leverage the Tax Benefits of ARRA 2009" and it covers some key planning opportunities available for businesses. Please read the analysis and let me know your thoughts.

Will I be under withheld for 2009 Taxes?

  • June 5, 2009

Your federal tax withholding has recently been reduced and there may be a consequence come tax time. In all likelihood, the reduction is attributable to the Making Work Pay Credit.

President Obama releases details about tax incentives for individuals

  • June 1, 2009

Just over 100 days into his administration, President Barack Obama is releasing more details about his tax policies. The Treasury Department's recently published "Green Book" (which is called green for the color of its cover) describes the president's tax proposals. As expected, many of the proposals build on the president's campaign promises to cut taxes for middle-income individuals. Congress has already begun drafting legislation and debating the president's proposals, which could be enacted into law later this year.

How Will Obama’s Tax Proposals Affect You?

  • May 29, 2009

CCH recently published their Tax Briefing on the Obama Administrations "Green Book" of tax proposals. The Obama administration released much-anticipated details about its proposed tax cuts and revenue raisers on May 11. The Treasury Department’s General Explanations of the Administration’s Fiscal Year 2010 Revenue Proposals (also known as the “Green Book”) describes the administration’s tax agenda.

Valuations for Financial Reporting in Today’s Market

  • May 13, 2009

The current economic environment has presented unprecedented circumstances for members of the business valuation profession. Those who perform valuations for financial reporting are grappling with issues surrounding impairment, market capitalization versus fair value determinations, reasonable rates of return, and active versus distressed and inactive markets, to name a few.