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Bend OR Tax Tips: Deferring Income into 2012

Why defer your income into 2012 this year? • Deferring income into 2012 is an especially good idea for taxpayers who anticipate being in a lower tax bracket next year, generally because of much-reduced income or much-increased deductible expenses. You many consider...

Bend OR Tax Tips: Changes for 2012

Looking Ahead to Tax Changes for 2012 The value of each personal and dependent exemption will increase $100 to $3,800 in 2012. The new standard deduction is $11,900 in 2012 for married couples filing jointly. Individuals and married people filing separately will see...

Bend OR Tax Tips: Investment Gains and Losses

Minimize taxes on investments by judicious matching of gains and losses. Where appropriate, try to avoid short-term gains, which are usually taxed at a much higher tax rate (up to 35%) than long-term gains, which in 2011 and 2012 are taxed at rates of zero and 15...

Bend OR Tax Tips: Retirement Plan Contributions

Maximize your retirement plan contributions. If you own an incorporated or unincorporated business, consider setting up a retirement plan if you don’t already have one. (It doesn’t need to actually be funded until you pay your taxes, but allowable...