by Leif Jensen | Oct 16, 2011 | General |
Have you been launched and decided to retire. This decision can cost you, retiring too soon can make you eligible for the 10% penalty on early plan payouts. For the 72T calculation you must be 55 or older in the year you leave the job to escape the penalty....
by Leif Jensen | Oct 16, 2011 | General |
The IRS is going after firms that classify employees as independent contractors. The tax agency and the Labor Dept. are sharing information and both will shortly be sharing information with state agencies to identify companies that violate the tax law or are...
by Leif Jensen | Oct 16, 2011 | General |
It is becoming even harder for people to land a new job. Even if they are lucky enough to do so people are not as mobile as they once were. The sluggishness in the housing market makes it hard to sell and move to an area with stronger job prospects or after the job...
by Leif Jensen | Oct 16, 2011 | General |
FY2009 data is finally in! FY2010 can’t be final since the due date is tomorrow for personal extensions. Starting with the bottom 50% of federal tax filers! They paid in 2.25% of the total federal income tax bill. This is the group that gets the EIC. Their average...
by Leif Jensen | Oct 16, 2011 | General |
Last year there were some problems with this issue, and I would expect more this year as well. Unenrolled preparers can’t yet say they are “registered tax return preparers,” the designation IRS adopted for preparers who aren’t lawyers, CPAs or enrolled agents. The...
by Leif Jensen | Oct 16, 2011 | General |
Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this: The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay...
