A defined contribution plan is retirement plan that does not promise a specific amount of benefits at retirement. In fact on these plans, the employee or the employer or both contribute to the employee’s individual account under the plan, sometimes at a set rate of return, for example, a 7 or 8 percent of earnings annually. The employee has an option of investing this … [Read more...] about Most Common Types of Employer Defined Contribution Plans
7 Mistakes People Make Just To Get A Huge Tax Refund
In general, tax deduction should be the secondary reason not the primary reason for your spending. In other words, do not overspend for the sole purpose of claiming the expense as a deduction in order to get more refund during tax time!! Spending just to claim a tax deduction is like spending $1 to get 30 cents back, assuming that your federal and state tax rate is 30%. If I … [Read more...] about 7 Mistakes People Make Just To Get A Huge Tax Refund
The Tax Year 2010 Deadline is Today – 6 Useful Tax Articles To Help You Get Through
Today is the deadline for filing the tax return for tax year 2010. Because the Emancipation Day, which is a holiday observed in the District of  Columbia, was observed on Friday, April 15, 2011, the IRS extended the due date to today for taxpayers to file their 2010 returns and pay taxes. By law, D.C. holidays impact tax deadlines in the same way that federal holidays do. … [Read more...] about The Tax Year 2010 Deadline is Today – 6 Useful Tax Articles To Help You Get Through
7 Useful Tax Articles For Last Minute Filers
Because the Emancipation Day, which is a holiday observed in the District of  Columbia, will be observed on Friday, April 15, 2011, the IRS is extending the due date to Monday, April 18, 2011 for taxpayers to file their 2010 returns and pay taxes. By law, D.C. holidays impact tax deadlines in the same way that federal holidays do. The April 18 deadline applies to any return … [Read more...] about 7 Useful Tax Articles For Last Minute Filers
American Opportunity Credit: Why It’s Called The Expanded Hope Credit
The American Opportunity Credit was created under the Economic Recovery Act that President Obama signed a couple of years ago. Initially, it is only good for tax years 2009 and 2010 but with the recent tax law changes, this educational credit has been extended to tax years 2011 and 2012. This means additional money for parents of college student  or college students … [Read more...] about American Opportunity Credit: Why It’s Called The Expanded Hope Credit