by Laurel | Nov 20, 2011 | Deferring Income
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...
by Hilary Craig | Nov 16, 2011 | Tax Credits
If you haven’t taken advantage of energy tax credits for your home, 2011 is your last chance. The credits–10% of cost up to $500 or a specific amount from $50 – $300–expire on December 31, 2011 and only apply to improvements in an existing home...
by Hilary Craig | Nov 14, 2011 | Deductions, Gifts
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...
by Hilary Craig | Nov 11, 2011 | Capital Gains
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...
