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| Editor's Note |
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  A new report released this month by the Treasury Inspector General for Tax Administration (aka TIGTA) suggests that Americans aren't saving enough for retirement. TIGTA explains that many Americans expect to rely on Social Security and other manna from heaven as their primary means of retirement support. Research shows that, before the economy went south, the average household containing someone within 10 years of standard retirement age (65) had saved the equivalent of about a year and a half of one person's earnings, and keep in mind that that average household might well contain two adults approaching retirement age. In today's economy, it's safe to assume that the amounts in those savings accounts have been somewhat depleted.
I think it's time for some reports analyzing what the heck Americans think they're going to do when they stop working. And note that this is on top of encouraging news that surfaced this week indicating that people over age 50 are not having much luck in the job market.
Best wishes,
Gail Perry, CPA
Managing Editor
editor@accountingweb.com
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Homebuyer credits: Like taking candy from a baby?
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The federal homebuyer tax credit can be considered a great boon to the housing market and the economy, or as a phenomenal waste of tax dollars. The watchdogs over at the Internal Revenue Service have taken another look at the credits.
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Debate over tax cuts continues
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If Congress doesn’t act to change existing legislation, the Bush tax cuts will soon expire. With the economy still in the doldrums, there has been much talk about keeping the lower tax rates to help boost economic activity, at least for all but the top 2 percent of earners in the nation.
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| It’s Time for Your Federal Tax Update! |
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| Get up to speed on this year’s tax changes with Vern Hoven’s highly-rated Federal Tax Update webcasts from CPE Link. Delivered in four 4-hour sessions, this multi-media presentation is team taught by practicing CPA Vern Hoven and EA William Roos. You get down-to-earth tax materials covering new tax developments that affect individuals, estates, businesses, partnerships and corporations. This live webcast format is the most economical and convenient way to get your tax update this year. Sessions offered November-January. Register today! |
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Tax planning for 2010 remains uncertain
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With the tax cuts enacted in 2001 and 2003 expiring at the end of 2010, many critical decisions remain up in the air. Congress has moved slowly on tax law in recent years but this year, watching paint dry or metal rust would seem speedy by comparison.
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What’s hot for 2010 tax season?
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The 2010 tax season is full of opportunities for tax professionals. The challenge is to keep up with the record number of federal tax updates and make sure clients can take advantage of them.
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| Kaplan Weekly Quiz |
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 Are you prepared for the CPA exam? Test your knowledge and keep your skills sharp by taking the weekly CPA Exam Quiz, brought to you by Kaplan Schweser CPA Review and AccountingWEB Education & Careers Zone. New questions will be posted for each section weekly. Take this week's quiz. |
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