October 23, 2012
Andrew Presti
Blog Posts
0 CommentsIn June, the U.S. Supreme Court upheld the constitutionality of Obamacare’s individual mandate by concluding that imposing a penalty for not purchasing health insurance is a valid exercise of Congress’ power to tax. As of Jan. 1, 2014, all Americans will be required to purchase either a private health plan or health insurance through a […]
Read moreSeptember 13, 2012Andrew PrestiBlog Posts0 CommentsThe very assets that make entrepreneurs successful can turn into handicaps when their business ventures take off and they assume the role of boss. Going from being responsible for everything and being a hands-on player in every aspect of the business to having employees to supervise and delegate is a giant leap. Most of us […]
Read moreSeptember 13, 2012Andrew PrestiBlog Posts0 CommentsWe all know to sidestep the misspelled email from a temporarily insolvent Nigerian prince who needs a little help and the details of our bank account. This type of clumsy email con typically goes out to millions of accounts hoping to trap a few unsuspecting recipients. The thieves sometimes highjack an official looking corporate logo […]
Read moreSeptember 13, 2012Andrew PrestiBlog Posts0 CommentsBy early summer of this year, 30-year fixed mortgage rates had fallen to 3.55 percent – their lowest level in 40 years. One of the reasons rates have remained low is that investors continue to pour money into relatively safe Treasury bonds – the securities that guide home loans. Up until recently, low mortgage rates […]
Read moreSeptember 13, 2012Andrew PrestiBlog Posts0 CommentsIt seems like the experts are using some very fancy language to say that the stock market is doing quite well and… we don’t really know why. Despite a lot of hand wringing regarding the dangers of rising taxes and growing deficits in the United States- and fears of a meltdown in Europe- it appears […]
Read moreSeptember 13, 2012Andrew PrestiBlog Posts0 CommentsThe Supreme Court upheld the constitutionality of the PPACA on June 28 based on the federal government’s taxing power. The Act requires that all individuals not covered by an employer-sponsored health plan or a public insurance program to purchase health insurance or pay a penalty. In exchange, insurance companies are required to cover all applicants […]
Read moreSeptember 13, 2012Andrew PrestiBlog Posts0 CommentsAccording to the IRS, the incorrect deduction of hobby expenses accounts for a portion of $30 billion per year in unpaid taxes and is a frequent issue in IRS audits. The IRS defines a hobby as an activity that is not engaged in with the expectation of making a profit, while a business is an […]
Read moreMay 03, 2012Andrew PrestiBlog Posts0 CommentsYour 2011 tax return has been filed, or you have properly filed for an extension. In either case, now it’s time to start thinking about important post-filing season activities to save you tax in 2012 and beyond. A few loose ends may pay dividends if you take care of them sooner instead of later. Successful […]
Read moreMay 03, 2012Andrew PrestiBlog Posts0 CommentsAfter three days of oral arguments in March, the Supreme Court is deciding the fate of the Pension Protection and Affordable Care Act (PPACA) and its companion law, the Health Care and Education Reconciliation Act (HCERA). Not only do the new laws impact health care, they contain numerous tax provisions, many of which have yet […]
Read moreMay 03, 2012Andrew PrestiBlog Posts0 CommentsProposals to reform retirement savings plans were highlighted during an April 2012 hearing by the House Ways and Means Committee. Lawmakers were advised by many experts to move slowly on making changes to current retirement programs that might discourage employers from sponsoring plans for their workers. Nevertheless, it is clear that Congress wants to make […]
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