What are the basic rules for employee stock options?

This week’s interview on Financial Insider Weekly is with John Olagues of Truth in Options. Our interview subject is, “Employee Stock Options – Basics”.

Tags: employee, ESPP, incentive, ISO, nonqualified, NQO, NQSO, option, stock, Tax matters

Should you “undo” a 2010 Roth conversion?

During the last few months, there has been a significant decline in the stock market. Some taxpayers may find that they are paying income taxes for a value that no longer exists. The Internal Revenue Code permits a reversal to be done. It is called a “recharacterization”. According to questions and answers posted to the IRS web site (www.irs.gov), the final date for the notice and transfer to be done for a 2010 Roth conversion is October 17, 2011.

Tags: conversion, ira, recharacterize, reverse, roth, undo

How to use a checkbook LLC to invest IRA and Roth funds

This week’s interview on Financial Insider Weekly is with attorney Jeffrey B. Hare. Our interview subject is, “Using a checkbook LLC to invest IRA and Roth funds”.

Tags: checkbook, invest, ira, LLC, roth, Tax matters

Is 2011 your last chance to position yourself for 15% capital gains?

2011 might be your last chance to position yourself for long-term capital gains eligible for the 15% maximum federal tax rate for long-term capital gains. In addition, the 3.8% Medicare tax on investment income when adjusted gross income exceeds $200,000 for singles and $250,000 for married filing joint returns enacted as part of the Health Care Reform legislation will also become effective after 2012, so the maximum long-term capital gains rate for high-income taxpayers is scheduled to be 23.8%.

The Bush tax cuts, which were extended to 2011 and 2012 are scheduled to expire after next year.

Tags: 2011, capital, gain, plan, Tax matters

Reporting requirements for foreign bank and brokerage accounts

This week’s interview on Financial Insider Weekly is with attorney and retired CPA David Howard of Hoge, Fenton, Jones & Appel. Our interview subject is, “Information reporting requirements for foreign bank accounts and foreign trusts”.

Tags: account, bank, foreign, information, reporting, Tax matters, trust

Tax considerations for selling your residence

This week’s interview on Financial Insider Weekly is with attorney G. Scott Haislet. Our interview subject is, “Tax considerations of selling your residence”.

Tags: federal, home, principal, residence, sale, Tax matters

How should you handle retirement accounts after a death?

This week’s interview on Financial Insider Weekly is with attorney Naomi Comfort of Hawks & Comfort. Our interview subject is, “How to handle retirement accounts after a death”.

Tags: account, death, estate, ira, retirement, roth, Tax matters

What estate planning steps should be done for retirement accounts?

This week’s interview on Financial Insider Weekly is with Raymond Sheffield, attorney at law with the Sheffield Law Office. Our interview subject is, “Estate Planning For Retirment Accounts”.

Tags: account, estate, ira, plan, planning, retirement, roth

California conforms to employee medical exclusion

California enacted AB36, conforming California tax law retroactively with the federal exclusion under health care reform for employee medical insurance covering adult children up to age 26.

Tags: adult, california, children, employee, exclusion, medical

How to make federal tax payments on the internet

With our busy schedules, many taxpayers want the conventience of making tax payments online. The tax authorities have worked hard to make online tax payment options available.

Tags: electronic, fedeeral, federal, online, payment, Tax matters, web