Archive - April 27, 2010

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What Your Tax Return Can Teach You
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Thinking of a Roth Conversion? See How a New Surtax May Affect You

What Your Tax Return Can Teach You

Tax season is behind us, and it’s time to move ahead with 2010. But we need to take a minute or two more with our 2009 return before we send it off into the black hole of all things stored. We can learn a great deal about the current year by reviewing last year’s return. This is one reason why I strive for all my clients to file timely (by April 15th).

First, look is at the bottom of your return. Did you have a balance due, or did you receive a refund? This will illustrate how well you planned. …

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Thinking of a Roth Conversion? See How a New Surtax May Affect You

Income taxOne of the provisions of the Healthcare bill that was signed into law in March, 2010 is a brand spanking new tax – a surtax on investment income over certain amounts.  This surtax will come into play beginning in 2013.  The amounts are, admittedly, rather high, but nonetheless will impact a lot of folks.  What you may not realize is that, due to the application of this surtax, it could be more beneficial to do a Roth IRA conversion now, at the “old” tax rates, or even spread the tax over the next two years (as is allowed for conversions… Read More

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