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How the New York Estate Tax Exemption May Have Backfired

How the New York Estate Tax Exemption May Have Backfired

We’ve already discussed how the New York estate tax exemption has changed from last year to this year, but we haven’t talked about why it’s changed. The new legislation regarding estate taxes was passed in an attempt to keep wealthy New Yorkers from leaving the state upon retiring, but whether that’s actually working is debatable.

What is the New Estate Tax

What is the New Estate Tax “Fiscal Cliff”?

In our last post, we started examining the changes being made to the New York estate tax exemption, as the limit was raised from $1,000,000 to $2,062,500 on April 1 of this year. Our initial overview discussed the effects of the previous exemption on New Yorkers. In this post, we’re going to look at how the previous exemption differs from the new exemption.

The New New York State Estate Tax Exemption

How the New New York State Estate Tax Exemption Works

It’s likely that you may not have heard much yet about the New New York estate tax exemption—the legislation seemed to have passed fairly quietly on March 31 of this year, going into effect on April 1. This is the beginning of a fairly long “phasing out” period, with plans for the New York state estate tax exemption to gradually increase to meet the federal estate tax exemption by 2019.

6 Things You Didn't Know About Tax Day

Tax Day Facts: 6 Things You Didn’t Know About Tax Day

Did you know that Tax Day isn’t always on April 15? There’s a whole lot more to the history of Tax Day in America than most of us even know. How many different dates has the deadline sat on? What other events can cause the deadline to change? Which constitutional amendments have affected how Tax Day came to be? So many questions, but we’ve got the answers.

What You Need to Know About the Deadline to File Taxes | DMCPA

What You Need to Know About the Deadline to File Taxes

There are only two weeks left before Tax Day; do you have all your paperwork in order? We wanted to make sure you have access to all the information you need if you’re not sure about the deadline to file taxes for 2013, so check out the outline of what’s due on April 15!

April 15 is Tax Day, are you prepared?

Preventing Estimated Tax Penalties on April 15

Last week we look at estimated business taxes for business owners, and how you might be affected come Tax Day on April 15. From our last post, you should have a better idea of what to do whether you own a small business or a corporation, but how do you go about preventing penalties? After all, that’s what everyone cares about most, right? Not spending more than you have to? Of course it is, which is why we’re here to help!

What You Need to Know About Estimated Tax Payments

What You Need to Know About Estimated Tax Payments

With Tax Day right around the corner, people are hustling to make sure they have everything in order when April 15 rolls around. Everyone needs to have all of the necessary paperwork in order to file their income taxes for 2013, but is that all? No, the IRS’s April Fool’s Day prank isn’t two weeks delayed—you actually may owe additional payments on April 15! For business owners, this is the time that estimated tax payments are due for the current year. Not only that, but if you don’t estimate accurately, you’ll owe a penalty if you underpay.

Roth IRA accounts tax deadline

The Tax Deadline for Roth IRA Contributions

As we discussed last week, the tax deadline for federal income returns is fast approaching. Unless you’re filing an extension to push your tax deadline back six months, you’ll be expected to file by April 15. Even though you can extend your federal income tax deadline, not all deadlines are flexible. The deadline to file Roth IRA contributions is a rigid one.

the 2013 tax deadline is quickly approaching

2013 Tax Deadline for a Traditional IRA

April 15,2014 is everyone’s 2013 tax deadline for federal income returns, as I’m sure we’re all aware. However, if you’re worried you may not make it by April 15, you can get an automatic extension for six months, pushing your deadline back to October 15. To do this, you have to file IRS Form 4868 by April 15. It’s important to remember that while the government will give you extra time to pay up, they’re not giving you a break on the taxes you owe; when you fill out the form, you’ll have to estimate the taxes you’re due and make a payment. If your estimate is too low, you may incur penalties and interest fees.

simplified employee pension plans are a good option for small business owners

Simplified Employee Pension Plans for Small Business Owners

A few weeks ago, we started looking at Simplified Employee Pension plans, which are alternative retirement savings plans to traditional IRA or 401k accounts. These accounts are typically most beneficial to individuals who are self-employed or who own small businesses. Last time, we talked about how Simplified Employee Pension plans benefit the self-employed, so this post will look at how these plans help small business owners.

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