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By: Jenna

What about the first time homebuyers credit? Is that happening again this year?

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By: Miranda Marquit

If you bought by April 30, you can count the home buyer tax credit (if you qualify) toward 2009 or 2010 taxes. But it has expired, with no renewal in the works yet. However, that is a CREDIT, and this...

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By: Zahid Lilani

You said “Go to your company’s human resources department and ask for a new W-4.” When you ask for a new W-4, you are either increasing or decreasing your withholding allowance. For e.g, if the...

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By: Miranda Marquit

I see. I was talking about amount of money you are withholding, and not number of exemptions. Last time I filled out a W-4, I put in an amount of money that I wanted withheld on top of number of...

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By: Josh

i have confusion hope you can help me on: i file married file jointly – i max out 16500 in company 401K – can i also open traditonal IRA and put 5000 in it? also, if i have traditional IRA and...

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By: Miranda

If you max out on a 401k, you can open an IRA and put money in it, up to $5,000, maxing it out. However, you can only put in $5,000 for all IRAs. So, while you can split your contributions between a...

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By: Vivek Shah

Hi Miranda, My wife just started working and we willmbe filing jointly for 2011. I am Maxing it out on my $16500 401k contribution. Can my wife also get a tax free 401k allowance. Can we open Roth...

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By: Miranda

Your wife can have her own 401k — if it is offered by her work. Or you can look into a solo 401k. It is important to note that these accounts are not tax free. They are tax deferred. You get a tax...

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By: Vivek Shah

Thanks Miranda, - So both my wife and I can put $16500 into our 401k’s? Thats good news. I understand that the taxation is at the time of withdrawl. - I understand one can contribute to ROTH 401k only...

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By: Miranda

The main benefit of putting more IRAs in over and above the 401ks is that you have more money in tax advantaged accounts, as opposed to using a taxable account. It’s generally considered a better idea...

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By: Jenna

What about the first time homebuyers credit? Is that happening again this year?

View Article

By: Miranda Marquit

If you bought by April 30, you can count the home buyer tax credit (if you qualify) toward 2009 or 2010 taxes. But it has expired, with no renewal in the works yet. However, that is a CREDIT, and this...

View Article

By: Zahid Lilani

You said “Go to your company’s human resources department and ask for a new W-4.” When you ask for a new W-4, you are either increasing or decreasing your withholding allowance. For e.g, if the...

View Article


By: Miranda Marquit

I see. I was talking about amount of money you are withholding, and not number of exemptions. Last time I filled out a W-4, I put in an amount of money that I wanted withheld on top of number of...

View Article

By: Josh

i have confusion hope you can help me on: i file married file jointly – i max out 16500 in company 401K – can i also open traditonal IRA and put 5000 in it? also, if i have traditional IRA and...

View Article


By: Miranda

If you max out on a 401k, you can open an IRA and put money in it, up to $5,000, maxing it out. However, you can only put in $5,000 for all IRAs. So, while you can split your contributions between a...

View Article

By: Vivek Shah

Hi Miranda, My wife just started working and we willmbe filing jointly for 2011. I am Maxing it out on my $16500 401k contribution. Can my wife also get a tax free 401k allowance. Can we open Roth...

View Article


By: Miranda

Your wife can have her own 401k — if it is offered by her work. Or you can look into a solo 401k. It is important to note that these accounts are not tax free. They are tax deferred. You get a tax...

View Article

By: Vivek Shah

Thanks Miranda, – So both my wife and I can put $16500 into our 401k’s? Thats good news. I understand that the taxation is at the time of withdrawl. – I understand one can contribute to ROTH 401k only...

View Article

By: Miranda

The main benefit of putting more IRAs in over and above the 401ks is that you have more money in tax advantaged accounts, as opposed to using a taxable account. It’s generally considered a better idea...

View Article
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