Trusted Answers From Licensed Business Professionals
How are Exchange Traded Funds (ETFs) Taxed?
By The BIDaWIZ Team on December 13th, 2011 at 3:00 pm
What Do Small Businesses Need to Know About Unemployment Taxes?
By Susan Ladika on December 8th, 2011 at 11:30 am
Sky-high unemployment rates and months of unemployment benefits for many workers have pushed some states into the red with the federal government. A study by the Tax Foundation issued in October found that 34 states had borrowed from the federal government to pay unemployment benefits when the states’ funds dried up. A few states have paid off their debts, but with many states still struggling financially, they owe a combined $37 billion, and began paying interest this fall on the cash they borrowed. Read More.
Should we Recharacterize our Roth IRAs?
By Susan Ladika on October 17th, 2011 at 12:00 pm
In 2010, we told you that if you have a traditional IRA (no matter your income level), you can convert those funds into a Roth IRA. Many IRA holders went on to convert to a Roth because the principal and appreciation of a Roth IRA grows tax free. But, now with the recent fall in the market, it may make sense to recharacterize or undo your Roth IRA conversion to avoid paying taxes and then to convert it back later. Read More.
Undoing that Roth IRA Conversion Could Save You Thousands
By The BIDaWIZ Team on August 10th, 2011 at 4:00 pm
Prepare for the Staggering Cost of College Tuition in 15 Years
By Susan Ladika on June 2nd, 2011 at 12:56 pm
It’s a smart move to start planning in advance. During the 2010-11 academic year alone, in-state tuition and fees climbed by almost 8 percent over the previous year at public four-year colleges and universities, reaching $7,605. At private schools, they were a whopping $27,293, according to the College Board. That compares to tuition and fees of $5,492 at public institutions and $20,980 at private schools in 2005-06. Read More.
US Citizens Earning Income While Living and Working Aboard
By The BIDaWIZ Team on May 27th, 2011 at 9:53 am
How Come We Always Owe Federal and State Taxes at Yr End?
By The BIDaWIZ Team on April 15th, 2011 at 3:34 pm
The fact that the issue of having to pay taxes at the end of the year is occurring every year, tells us that the cause is not due to a one time tax credit or deduction. It is likely due to a recurring event, such as holding investments that pay dividends each year and not paying estimated taxes each quarter to the government and state for that income. Read More.
I’ve Filed My Tax Return, Is There Anything Else I Need To Do?
By The BIDaWIZ Team on April 14th, 2011 at 9:47 pm
Can Exercising Stock Options Trigger Alternative Minimum Tax?
By Susan Ladika on March 25th, 2011 at 11:55 am
Gifting Millions And Not Owing Any Taxes
By The BIDaWIZ Team on February 3rd, 2011 at 5:45 pm
The chance to donate a gift for the 2010 tax year has passed but there is always 2011. As you may already know, you can gift $13,000 per individual without having any chance of being subject to gift tax for the year. Married couples can gift up to $26,000. This is referred to as the annual gift tax exclusion which is different but related to the recently increased lifetime gift tax exemption. Read More.
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