Taxes

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Meal Deductions, Explained

One of your employees announces that she’s engaged, and you take her and the office out to lunch to celebrate. In the evening, you take out your business partner to celebrate the company’s one-year anniversary. Both of those count as business...

A Last-Minute, Year-End Tax Break

While you’re up in the attic or closet-diving for holiday decorations, lock in one last tax deduction by gathering up your old stuff. It could offset a nice chunk of your holiday bill: If you’re in the 25% tax bracket and you donate $1,000 worth...

Flat Taxes: For Better or Worse?

Perry and Romney are headed for a confrontation on tax policy. (STEVE MARCUS - REUTERS) By now you’ve figured out that a flat tax is pretty much what it sounds like. In the case of Republican candidate Herman Cain, who is proposing the 9-9-9...

What the Payroll Tax 'Raise' Really Means

You've probably heard that, starting this month, workers who pay into Social Security will be getting, in effect, a 2% pay increase. Not really. True: some 155 million people will be seeing more cash in their paychecks. Someone earning $50,000...

The Best Last-Minute Gift

You're out of ideas, almost out of money, and there's little chance you can get anything shipped by Christmas Eve now anyway. Before you resort to regifting, there is a smart, affordable surprise you can have ready at the click of a mouse. It's...

Higher Income, Cuter Husband?

OK, gals—besides a fatter 401k, here's another benefit to boosting your income: As a woman's earning power grows, she is more likely to choose an older, more attractive mate, says a new study published in the journal Evolutionary Psychology this...

What's the Difference Between Term and Permanent Life Insurance?

  Plan D You shudder to think about dying. But imagine if you died suddenly—and left your family with no financial cushion? "That's why life insurance should be at the top of your To Do list—but it isn't, because it makes you think about things...

Obama and Your 401k

President Obama’s administration has been very proactive in dealing with our economic crisis. One area is our 401k. While I do not necessarily agree with some of their actions - because I think touching your 401k or IRA money is the last place you...

More About IRA

Now that you know enough about the Roth IRA to be dangerous (see last week's DailyWorth on the subject), you're done researching retirement plans. Whoa. Stop right there. The Roth IRA is just the tip of the retirement-fund iceberg. There are a...

Write It Off

I have a great accountant and always recommend to my clients to take advantage of their relationship with their accountant. If you don’t have one you feel comfortable with, I would consider finding a new one. One of the reasons I justify paying...

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