Gerber Life College Scholarship Contest

Winning a $20,000 scholarship toward a college education would be a nice surprise for any parent. Gerber Life Insurance Company has made that a possibility with the first-ever Gerber Life College Scholarship Contest. In order to qualify parents simply need to submit their child’s drawing of what they want to be when they grow up. The contest begins August 1 …

Retirement in America 2012

The Transamerica Center for Retirement Studies ® (the Center) recently released its 13th Annual Retirement Survey.  Since 1999, the Center has conducted a national survey of U.S. business employers and workers regarding their attitudes toward retirement. The overall goals for the study are to illuminate emerging trends, promote awareness, and help educate the public. This year 3609 full and part-time …

View Post

Tax and Financial Planning Summer Special

Palma Financial Services, Inc. is once again offering a free tax review and financial analysis with each tax preparation appointment. This is a summertime special which will expire September 30, 2012. To take advantage of this offer call now to arrange an appointment, 925-307-5454 and mention this ad. Miguel Palma CPA/PFS is a Certified Public Accountant and Professional Financial Specialist …

IRS Toughens ITIN Application Requirements, Responding to Problems with Undocumented Workers

The Internal Revenue Service recently reported that it is making important interim changes to strengthen its procedures for issuing Individual Taxpayer Identification Numbers from now through the end of the year. In an Accounting Today article by Michael Cohn the implication is very misleading; it gives the reader the impression that undocumented workers received $4.2 billion of fraudulent refunds due to …

Stanford sentenced to 110 years for $7 bn Ponzi scheme

Financier and cricket mogul Allen Stanford was sentenced to 110 years in jail for a $7 billion Ponzi scheme, closing the book on the flamboyant ex-tycoon’s stunning fall from grace. “This is one of the most egregious frauds ever presented to a trial jury in federal court,” Judge David Hittner said in handing down the lengthy sentence Thursday. Investors should pause if …

Debunking Annuity Objections

An annuity is a retirement savings vehicle that provides the income you can never outlive. Why didn’t everyone have annuities? Turns out there are those who have a vested interest in discrediting the annuity. Learn the truth. See Debunking Annuity Objections by Sheryl Moore

20,752 High-Income Taxpayers Had No Income Tax Liability

A recent article by Michael Cohn in Accounting Today stated that… “New statistics from the Internal Revenue Service indicate that 20,752 taxpayers with adjusted gross incomes of $200,000 or more in 2009 had no U.S. income tax liability. Those 20,752 taxpayers represent only 0.529 percent of the nearly 4 million tax returns for those with AGI of $200,000 or more. The …

Small Business Owners Weigh In On Tax Cuts, the Buffett Rule and the Election

By Kelly Phillips Erb, Forbes.com When it comes to tax, everyone has an opinion about whats best for small businesses. President Obama has told us what small businesses want. Presidential hopeful Mitt Romney has told us what small businesses want. Congress has told us what small businesses want. But small businesses havent really told us what they want. I suspect …

Self-Employed Health Insurance

Are you eligible for a deduction? Generally, sole-proprietors may not deduct the cost of health insurance when calculating self-employment tax. However, under the Small Business Jobs Act, self-employed business owners may be able to deduct the cost of health insurance for themselves and their family. The deduction is not available if the self-employed individual is eligible to participate in an …

Small Business Health Care Tax Credit

Small Business Health Care Tax Credit. Do you qualify? The small business health care tax credit was included in the Affordable Care Act enacted last year and is designed to encourage small businesses to offer health insurance coverage to their employees for the first time or maintain coverage they already provide. Small businesses that pay at least 50 percent of the …