No, you'll never max out all of its features, but here are some tips on tools that extend QuickBooks' usefulness – and save you time. Zero In On Key Report Figures You've undoubtedly created reports that were so lengthy that you got tired of scrolling up and down to find totals for each individual section. QuickBooks lets you collapse and expand reports to see primary … [Read more...] about QuickBooks Can Do Much More Than You Think
Take Advantage of Education Tax Benefits
The tax code includes a number of incentives that, with proper planning, can provide tax benefits while you, your spouse, or children are being educated. Which of these options will provide the greatest tax benefit depends on each individual’s particular circumstances. The following is an overview of the various possibilities. Student Loans—A major planning issue is how to … [Read more...] about Take Advantage of Education Tax Benefits
Middle-Class Tax Cuts: Will Congress Act Soon?
So who does President Obama see as the middle class? He has repeatedly used earnings of $250,000 for married couples and $200,000 for single individuals as the threshold for what he considers the wealthy and those who should not benefit from tax cuts. He reiterated that on July 9 by calling for a one-year extension of the Bush-era tax cuts for those earning under $250,000 per … [Read more...] about Middle-Class Tax Cuts: Will Congress Act Soon?
Raising Cash in Tough Times
A housing market that has not recovered from the big price drops that began several years ago, long-term unemployment, and a still wobbly economy mean tough times for cash-strapped individuals seeking to raise money for an immediate financial need. Compounding the misery is the fact that many people have locked away the lion's share of their savings in a tax-favored retirement … [Read more...] about Raising Cash in Tough Times
Keep Track of Your Basis
Regarding taxes, there is a saying to the effect that “those who keep records win.” If you are an investor, you may have a variety of securities, including stocks, bonds, and mutual funds. When you sell those securities, you want to minimize your gains or maximize your losses for tax purposes. Gains or losses are measured from your tax basis in the investment (asset), making … [Read more...] about Keep Track of Your Basis