Expecting a refund from your taxes? Take half of it and put it to work for your retirement. Open a Traditional IRA and put half your refund into it and get a tax deduction for next year. Or put it into a Roth IRA and while no tax deduction, if you hold until 59 1/2 (or five years, whichever is greater) you will never have to pay tax on any of it. This is the only time I don’t hate refunds!
Brian’s Tax Musings
Well, HR 4 has been passed and sent to the President. We will see how long it takes to sign the repeal of the 2012 1099 requirement.A special thanks to admin assistants everywhere – we don’t realize how much they do until we don’t have one.
Brian’s Tax Musings
The Senate passed HR 4 – which repeals the 1099 requirements for next year. Since this is the House bill, it now goes to Obama for his signature. He said he would sign, so it looks like this stupid law may finally be gone.