Cash Flow Planning for Life - Helping you reach your personal & professional financial goals.

Cash Flow Planning for Life

Helping you reach your personal & professional financial goals.

Archive for October, 2011

1: Know What is Tax Deductible and What’s Not

Posted by Mark On October 19th

Know What is Tax Deductible and What’s Not

This is the first installment of Tax Deductions & You: What You Need to Know which can also be downloaded from our free eBook library.

When tax time roles around, you will need to take a look at the various types of loans and credit lines to see which are tax deductible and which are not. These may include:

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Did You Make a Roth Conversion in 2010?

Posted by Mark On October 1st

Roth IRA photo

If so, you have until October 17, 2011 to undo the conversion and recover any tax paid.  You should review your converted ROTH account and compare the balance with the converted amount, if the balance has declined, returning the dollars back to your IRA can save  tax dollars.  If your 2010 return has already been filed, use form 1040X to file for a refund.

For more helpful information, download my free ebook Roth IRA – 8 Quick Helpful Tips or contact me online.

-Mark
Fort Myers & Naples Accountant

This information is based on facts, assumptions and representations as stated and authorities that are subject to change. We will not update this information for subsequent legislative or administrative changes of future judicial interpretations.
LEGAL NOTICE AND DISCLAIMER: The information within this blog is for informational and educational purposes only and is not tax advice and should not be used as such. The facts of each individual situation can have significantly different outcomes when applying tax law. The hiring of a CPA is an important decision not to be based solely on advertisements.

So, you’ve made it to the end of the year.

Taxes (Photo courtesy of David Reber's Hammer Photography)

Finish up those small business tax strategies for 2011 and you can start the new year ready to go!

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