Engelman Accountancy

Do you own too much company stock?

December 19th, 2009

Employees often have too much of their employer’s company stock in their 401(k) or other retirement plan. Employees feel they know their company best, overlooking the risks of having too much of an investment in any one company, including their own. Read the rest of this entry »

New rules in 2010 for Roth IRA conversions

December 10th, 2009

Beginning in 2010, the rules governing Roth IRA conversions will undergo a significant change. Read the rest of this entry »

New law expands benefits for taxpayers

December 1st, 2009

The new Worker, Homeownership, and Business Assistance Act of 2009 contains several key provisions affecting individuals and business owners. Here’s a brief summary.
Read the rest of this entry »

Tips for starting a new business

November 18th, 2009

If you recently lost your job or have always dreamed about being your own boss, you may be contemplating a new business venture. Naturally, this is a risky proposition, especially during these turbulent times. Here are some practical suggestions to help you succeed.
Read the rest of this entry »

Call soon for a year-end tax review

November 15th, 2009

Time is running out on moves you can make to reduce your 2009 tax bill. Some actions to consider right now:

  • Be sure to max out your 401(k) plan at work. This year you can sock away $16,500 ($22,000 if you’re 50 or older).

Read the rest of this entry »

Tax Bulletin – IRA News

November 10th, 2009

As the end of 2009 approaches, a significant opportunity awaits many individuals.  Beginning in 2010, taxpayers will be able to convert their traditional IRA (and funds that have been rolled over from a qualified plan) to a Roth IRA, regardless of their income level or filing status. What’s more, the tax on the taxable income generated from a 2010 conversion may be deferred until Read the rest of this entry »

Credit card fraud: Will you be the next victim?

November 1st, 2009

Credit card fraud has been around since the advent of credit cards, but the thieves have advanced with technology. At first, crooks used low-tech maneuvers like robbery, dumpster diving, or mailbox crashing to steal cards, statements, and merchant receipts. Although still popular, these methods are being eclipsed by Read the rest of this entry »

Consider incremental cost in business purchasing decisions

October 20th, 2009

If you run a business, you probably make many different kinds of purchasing decisions. You might buy some items infrequently and only one at a time (for example, computers). At the other extreme,
there are probably Read the rest of this entry »

Develop three habits to stay out of debt

October 15th, 2009

Staying out of debt is simple, but it’s not easy. It requires fortitude. It means foregoing impulsive purchases in exchange for long-term financial freedom. Staying out of debt requires that you deny cravings, at least temporarily, for the “must-have” stuff that beckons from every Read the rest of this entry »

The IRS wants taxpayers to use new tax breaks

October 10th, 2009

The IRS recently issued a news release reminding taxpayers to take advantage of the tax breaks provided in the American Recovery and Reinvestment Act of 2009, the stimulus law passed earlier this year. Read the rest of this entry »

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