Author Archives: Francis G. Marchese

Financial tips for the ‘sandwich generation’

The “baby boomers,” Americans born between 1946 and 1966, are moving like a wave into their 40s and 50s. Unfortunately, many of them are facing new financial pressures. Their kids may need help paying for increasingly expensive colleges. Their folks ...

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CPA Talks

Frustrated by employee absenteeism and the negative impact it has on your operations, customer support, and profit level≠ Are you looking for ways to improve the attendance and productivity of your workers≠ Here are a few suggestions. ≠· Realize you ...

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Law provides tax breaks for the disabled

A variety of tax breaks are available to help disabled taxpayers cope with the financial burdens of disability. Tax relief falls into three categories. First, many types of disability payments are exempt from taxes. Second, disabled taxpayers can deduct a ...

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To boost profits, should you cut taxes or cut costs≠

In today’s economy, every businessperson is looking for ways to maintain business profits. Ideas for increasing sales and cutting costs abound. You’ve probably tried most of them. But there’s one source of cost savings that is often overlooked, and it ...

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Is the alternative minimum tax in your future≠

Were you among the several million taxpayers who had to pay the alternative minimum tax (AMT) last year≠ Even if you escaped in 2006, keep reading. Unless the law changes, you could be among the millions more who’ll have to ...

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Need more time to file your 2006 tax return≠

Does it look as if you might miss the April 17 deadline for filing your 2006 income tax return≠ Don’t despair! There’s still time to avoid a late-filing penalty — and you might be able to do it without filling ...

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Act fast or you might lose your refund

If you didn’t file a tax return for the year 2003, you’re not necessarily in trouble. In fact, you could be about to lose out on a nice refund check. The IRS reports that it is holding an astonishing $2.2 ...

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Health savings accounts now more beneficial

A new law signed in December makes Health Savings Accounts (HSAs) more attractive to taxpayers. The Tax Relief and Health Care Act of 2006 offers new ways to create HSAs and increases contribution amounts. The accounts are designed to help ...

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April 2 could be an important deadline for you

Retirement accounts grow tax-deferred until the funds are needed. However, in most cases your money cannot remain in such accounts forever. IRS rules dictate when and how much must be withdrawn from retirement accounts. The amount to be withdrawn each ...

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Itemizing deductions could save you money

Generally, you are allowed to deduct on your income tax return the greater of your itemized deductions or the standard deduction. Yet, each year, thousands of taxpayers overpay their taxes because they claim the standard deduction when itemizing would save ...

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To max tax savings, pick the best filing status

Understanding your filing status choices and selecting the best one can cut your tax bill. Filing status determines your tax bracket. It also sets the income level at which you become ineligible for certain tax benefits, such as deductible IRAs ...

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Don’t wait until the last minute to file

If you procrastinated the preparation of your 2005 income tax return, don’t make the same mistake this year. Here are some good reasons for not waiting until the last minute to file your 2006 return. Get your refund on the ...

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