TMTW # 138 – Long Term Care Insurance

Posted on May 22, 2013 by taxblogger

Tax and Money Tip of the Week:
Long Term Care Insurance – “The
Bottom Line” | May 22, 2013 | No. 138

A catastrophic injury or debilitating disease that requires you to enter a nursing home can destroy your best-laid financial plans.  You will need to decide whether to take out a long-term care insurance policy that may cover nursing home care, home health care, adult day care, respite care, and residential care.  If you decide to purchase such a policy, you’ll need to choose the best time to do so. 

Typically, unless you have a chronic condition that makes you more likely to require long-term care, there is generally no reason to begin thinking about this issue before age 50.  Usually, there is no reason to purchase such a policy before age 60, but it is less expensive generally in your 50’s.

Questions or Comments? You can add comments on the blog, call 919-847-2981, or visit our web site. We look forward to hearing from you.

Mark Vitek, CPA/PFS, CFP®
…until next week.

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TMTW # 137 – Amending for Tax Filing Errors

Posted on May 15, 2013 by taxblogger

Tax and Money Tip of the Week:
Amending for Tax Filing Errors | May 14, 2013 | No. 137

An interesting article from the Wall Street Journal:

Amending for Tax-Filing Errors

Questions or Comments? You can add comments on the blog, call 919-847-2981, or visit our web site. We look forward to hearing from you.

Mark Vitek, CPA/PFS, CFP®
…until next week.

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TMTW #136 – Insurance Coverage for Small Business

Posted on April 24, 2013 by taxblogger

Tax and Money Tip of the Week:
Insurance Coverage for Small Business
April 24, 2013 | No. 136

An interesting and timely article was in the News & Observer this week:

Insurance Coverage for Small Business

Questions or Comments? You can add comments on the blog, call 919-847-2981, or visit our web site. We look forward to hearing from you.

Mark Vitek, CPA/PFS, CFP®
…until next week.

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TMTW #135 – Thank you Clients!

Posted on April 10, 2013 by taxblogger

Tax and Money Tip of the Week:
Thank You Clients! Another Successful
Tax Season | April 10, 2013 | No. 135

The Week After Tax Season
 
Aaah…..the week after tax season is the best week in a CPA’s life each year!
 
We met a lot of new clients this year because of referrals from existing clients, and readers of our Tax and Money Tip of the Week. Thank you!

Our firm continues solid growth thanks to all of you.
A referral is the best compliment we can ever receive. 
 
Even though our tax season is over, we will continue our Tax and Money Tip of the Week for the rest of the year. We will keep you updated on the constant tax law changes as well as spotlighting specific tax and money making ideas.
 
Again, thank you for making this one of the most successful tax seasons yet.
 
We will be closing Friday April 12th for the tax season and not be re-opening April 23rd.

Questions or Comments? You can add comments on the blog, call 919-847-2981, or visit our web site. We look forward to hearing from you.

Mark Vitek, CPA/PFS, CFP®
…until next week.

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Posted on April 3, 2013 by taxblogger

No Tax and Money Tip this Week:
April 3, 2013

There will not be a Tax and Money Tip this week.  We are busily crunching tax returns and will continue next week with another Tax and Money Tip of the Week. We hope everyone is having a happy tax season.
Questions or Comments? You can add comments on the blog, call 919-847-2981, or visit our web site. We look forward to hearing from you.

Mark Vitek, CPA/PFS, CFP®
…until next week.

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TMTW 134 – Preparing for the 3.8% Medicare surtax

Posted on March 27, 2013 by taxblogger

Tax and Money Tip of the Week:
Preparing for the 3.8% Medicare
Surtax | March 27, 2013 | No. 134

An interesting and timely article from the Investment News – 
Devising Strategies for the 3.8% Medicare surtax
Questions or Comments? You can add comments on the blog, call 919-847-2981, or visit our web site. We look forward to hearing from you.

Mark Vitek, CPA/PFS, CFP®
…until next week.

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TMTW #133 – Tax Effects of Debt Forgiveness

Posted on March 20, 2013 by taxblogger

Tax and Money Tip of the Week:
Tax Effects of Debt Forgiveness
March 20, 2013 | No. 133

An interesting and timely article from the Wall Street Journal – 

Tax Effects of Debt Forgiveness

Questions or Comments? You can add comments on the blog, call 919-847-2981, or visit our web site. We look forward to hearing from you.

Mark Vitek, CPA/PFS, CFP®
…until next week.

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TMTW #132 – Deadline for Making IRA Contributions for 2012

Posted on March 13, 2013 by taxblogger

Tax and Money Tip of the Week:
Deadline for Making IRA Contributions
for 2012 | March 13, 2013 | No. 132

Taxpayers have until their tax return due date (not including extensions) to contribute up to $5,000 to an IRA for 2012 ($6,000 if they are age 50 by December 31, 2012). For most taxpayers, the contribution deadline for 2012 is April 15, 2013.

Questions or Comments? You can add comments on the blog, call 919-847-2981, or visit our web site. We look forward to hearing from you.

Mark Vitek, CPA/PFS, CFP®
…until next week.

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Posted on March 6, 2013 by taxblogger

No Tax and Money Tip This Week:
March 6, 2013

There will not be a Tax and Money Tip this week.  We are busily crunching tax returns and will continue next week with another Tax and Money Tip of the Week. We hope everyone is having a happy tax season.

Questions or Comments? You can add comments on the blog, call 919-847-2981, or visit our web site. We look forward to hearing from you.

Mark Vitek, CPA/PFS, CFP®
…until next week.

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TMTW #131 BONUS – Don’t Wait on Your 1099 or K-1!

Posted on February 27, 2013 by taxblogger

Tax and Money Tip of the Week:
Don’t Wait on Your 1099 or K-1!
February 27, 2013| No. 131 BONUS

In our CPA practice, we find that many clients want to hold all of their tax information until they have received that final Form 1099 or K-1. Yikes! Don’t do that! Some brokerage firms don’t deliver 1099s until as late as March 8th, or amend the original 1099s frequently until March 31st.

We want you to provide us, or your CPA, with all available tax return information as soon as you have it pulled together. Don’t wait until you receive that last form!

This year it is especially important to get your tax information to us, or your CPA, as soon as possible. With the passing of the tax bill occuring so late, the IRS is still working to get many forms finalized. This is causing a tremendous backlog in all CPA firms this year. By getting your information to your CPA in early March, you will have your return in the front of queue and through the tax season hourglass well before the stress of April 15th!

Questions or Comments? You can add comments on the blog, call 919-847-2981, or visit our web site. We look forward to hearing from you.

Mark Vitek, CPA/PFS, CFP®
…until next week.

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