Schwartz & Hofflich LLP, Norwalk CT CPA Firm

Convert A Traditional IRA To A Roth IRA

admin — Tue, 02 Mar 2010 20:02:27 +0000

What’s It All About?

By Neil Bayer

Much has been made of the change in the IRA rules which went into effect in 2010, particularly the rules covering converting a traditional IRA to a Roth IRA. Prior to 2010 owners of regular IRAs whose adjusted gross income was more than $100,000 were prohibited from converting their traditional IRA to a Roth IRA.

Get Tax Return Information In Early

admin — Tue, 02 Mar 2010 19:54:27 +0000

The better organized you keep your information, the easier it is to file early because you don’t need to search for missing data. And you can speed up your refund by getting your tax return filed early in the tax season.

The 2010 U.S. Stock Market - What To Look For

admin — Mon, 25 Jan 2010 22:59:20 +0000

By Patrick Fremont, Schwartz & Hofflich Capital Management, LP

The U. S. economy is now out of its financial meltdown and appears to be on a slow path to recovery. The stock market continues its upward trend as corporate profits improve. However, enormous dosages of monetary stimulus lie ahead as the U.S. Treasury issues almost $2 trillion in government debt this year. Before long, we may need to deal with the side effects of such massive government borrowings as their threat to the economy may be as ominous as that posed by the banking crisis itself. As an investor, what should you do to prepare for what may lie ahead? We suggest actively monitoring the following economic issues throughout the year to determine whether a change in your investment strategy is in order.

Boost Spirits and Production

admin — Mon, 25 Jan 2010 22:57:06 +0000

Your employees spend at least one-third of their lives - give or take some holidays - in the workplace. If the surroundings are grim, it’s not good for your bottom line.

So make an effort to help your staff members enjoy the space they work in.

New Beginnings

admin — Tue, 12 Jan 2010 21:20:38 +0000

We would like to wish everyone a happy, healthy, and prosperous new year. The beginning of a new year is an exciting time. It gives us a chance to reflect on the past year and decide if we should continue on the same financial path or make a change.

As we look back at the financial world, it certainly has been a volatile year. What’s in store for us in the coming year? No one really knows exactly what will happen, despite the numerous market predictions that we are sure you’ve heard. Nonetheless, this is an appropriate time to review your financial plan so please feel free to call us to discuss your portfolio and financial goals and be sure to read our lead story on Build America Bonds, a relatively new type of high-yield bond.

Tread Carefully to Avoid Immigration Discrimination

admin — Tue, 12 Jan 2010 21:18:42 +0000

It’s a delicate balance, but employers must verify that prospective hires are legally able to work in the U.S. and they can’t discriminate based on national origin.

Steep penalties come with failure to comply. For example, fines for record keeping violations run from $100 to $1,000 each. Fines for knowingly employing an unauthorized alien range from $250 to $10,000 for each violation. Criminal penalties of up to $3,000 and up to six months in prison are possible if a pattern of hiring unauthorized people is proved.

Tax Planning Guide - Tax-saving Ideas You Can’t Afford to Overlook

admin — Tue, 24 Nov 2009 18:30:12 +0000

With prices up and the economy down, minimizing your tax burden is more important than ever. To save as much as possible, you’ll need to proactively look for ways to reduce your taxable income and take advantage of every tax break you’re entitled to.

This is exactly what our 2009-2010 Tax Planning Guide is designed to help you do. Simply click on our name above or the Tax Guide banner on the bottom of the opening page of this e-newsletter to access the home page of our website and then click on the “Tax Planning Guide” button to learn about ways to reduce your personal and business tax liability. If you would like a copy of the Tax Planning Guide in print, let us know and we will be happy to mail one to you.

As you look through the guide, please note the strategies and tax law provisions that apply to your situation or that you would like to know more about. The Web Tax Guide will automatically be updated for changes in the tax law. Call us with any questions you may have about these or other tax matters.

Our professionals are thoroughly familiar with the latest tax laws and tax-reduction strategies, and are eager to help you take full advantage of them. So please e-mail or call us today at 203-847-4068 or 212-397-0090 to talk about ways you can lighten your tax burden and better achieve your financial objectives.

Save Some Green with “Green-Friendly” Motor Vehicles

admin — Tue, 24 Nov 2009 18:27:57 +0000

Are you in the market to buy a new or used car but you missed the Cash for Clunkers government program? If you are looking for another incentive, Connecticut has temporarily exempted the purchases and leases of fuel-efficient passenger motor vehicles from sales tax.

Turn More Salespeople into Superstars

admin — Thu, 05 Nov 2009 22:50:55 +0000

The dictionary defines a process as a series of related steps that lead to a desired result. If members of your sales staff are in a slump, implementing a formal sales process can help them identify their deficiencies.

Increase the Chance of Successfully Defending Your Organization

admin — Thu, 05 Nov 2009 22:45:54 +0000

It’s an employer’s nightmare: You are notified by the Equal Employment Opportunity Commission (EEOC) that a complaint has been lodged against the company.