15 Last Minute Tax moves for 2012

Last Minute Tax Moves

It’s not too late to make some year end tax moves for 2012 With the year coming to a close, now is a good time to consider a few last-minute tax moves. This year is particularly challenging because the chuckleheads in Washington can’t seem to get their act together with tax policy. While taxes are […]

Published or Updated: December 29, 2012

What is the Saver’s Tax Credit?

Uncle Sam

One of the most overlooked tax credits is also one of the best. If you qualify for this credit, the government actually pays you to contribute to your retirement account. It’s called the Saver’s Credit (officially the “Retirement Savings Contributions Credit”), and it’s one you don’t want to miss. The Saver’s Credit is designed to […]

Published or Updated: December 23, 2013

Is a Donor-Advised Fund Right for You?

Donor-Advised Funds

Donate stock to charity through a donor-advised fund Photo: opensourceway My wife and I just opened a donor-advised fund. If you’ve been a long time reader of the Dough Roller, you know from my 2007 investing update that we’ve been considering this alternative to charitable giving for a long time. Today we’ll look at why […]

Published or Updated: April 21, 2014

What You Need to Know About the Fiscal Cliff

Fiscal Cliff

Imagine your finances are in shambles. You’re drowning in credit card debt and not making nearly enough money. So you cut your discretionary spending and get a second job to generate some more income. Most would applaud the responsible steps you are taking to fix your finances. If you are the government, however, we call […]

Published or Updated: January 1, 2013

How About a 91% Tax Rate?

Yesterday I read an article written by Paul Krugman that made me hurl. Called The Twinkie Manifesto, the title of the article was the best part; it was all downhill after that. Krugman wants us to return to the day when the top marginal federal income tax rate was 91%. And his argument is as […]

Published or Updated: November 21, 2012

The Lowest and Highest State Taxes (Map)

highest and lowest state taxes

The Tax Foundation recently published a state-by-state study on state and local tax burdens. The study lists that tax burdens by state, including a ranking from highest to lowest state taxes. New York was the “winner” with a state tax burden topping the charts at 12.8%. Alaska has the lowest tax burden at 7.0%. The […]

Published or Updated: October 29, 2012

10 Surprising Steps Every Executor of a Will Should Take

My step-mother passed away last week. She was an incredible woman. She was a pilot, certified scuba diver, Harley-Davidson rider, and if that weren’t enough, a big game hunter. No joke. Cancer took her far too soon. And now I’m the executor of her will and trustee of her living trust. While I practice law, […]

Published or Updated: September 19, 2012

Tax Deductions for Employees who Work from Home

Recently a reader named Lisa asked me about tax deductions for employees who work from home. Here is Lisa’s question: My husband will begin working from home 3 days per week beginning at the end of this mth and will need to travel to his company’s site the other 2 days. Can you please provide […]

Published or Updated: September 12, 2012

Should the Bush Tax Cuts Be Extended?

Today President Obama called for a one-year extension on the Bush tax cuts for the middle class. In contrast, he wants to raise the top two income tax rates from 33% and 35% to 36% and 39.6%, respectively. These higher rates would affect those making more than $250,000 a year. So here’s the big question […]

Published or Updated: July 17, 2012