tag:blogger.com,1999:blog-9479060784283374332012-03-21T02:59:56.636-07:00Ainsworth Accountinghttp://www.blogger.com/profile/14327083692098180433noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-947906078428337433.post-63138898610522017912010-03-10T05:14:00.000-08:002010-03-10T05:15:44.824-08:00 <meta name="Title" content=""> <meta name="Keywords" content=""> <meta equiv="Content-Type" content="text/html; charset=utf-8"> <meta name="ProgId" content="Word.Document"> <meta name="Generator" content="Microsoft Word 2008"> <meta name="Originator" content="Microsoft Word 2008"> <link rel="File-List" href="file://localhost/Users/solosaint/Library/Caches/TemporaryItems/msoclip/0/clip_filelist.xml"> <!--[if gte mso 9]><xml> <o:officedocumentsettings> <o:allowpng/> </o:OfficeDocumentSettings> </xml><![endif]--><!--[if gte mso 9]><xml> <w:worddocument> <w:zoom>0</w:Zoom> <w:trackmoves>false</w:TrackMoves> <w:trackformatting/> <w:punctuationkerning/> <w:drawinggridhorizontalspacing>18 pt</w:DrawingGridHorizontalSpacing> <w:drawinggridverticalspacing>18 pt</w:DrawingGridVerticalSpacing> <w:displayhorizontaldrawinggridevery>0</w:DisplayHorizontalDrawingGridEvery> <w:displayverticaldrawinggridevery>0</w:DisplayVerticalDrawingGridEvery> <w:validateagainstschemas/> <w:saveifxmlinvalid>false</w:SaveIfXMLInvalid> <w:ignoremixedcontent>false</w:IgnoreMixedContent> <w:alwaysshowplaceholdertext>false</w:AlwaysShowPlaceholderText> <w:compatibility> <w:breakwrappedtables/> <w:dontgrowautofit/> <w:dontautofitconstrainedtables/> <w:dontvertalignintxbx/> </w:Compatibility> </w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:latentstyles deflockedstate="false" latentstylecount="276"> </w:LatentStyles> </xml><![endif]--> <style> <!-- /* Font Definitions */ @font-face {font-family:Arial; 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mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Times New Roman"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} </style> <![endif]--> <!--StartFragment--> <p class="MsoNormal" style="line-height: normal;"><span style="font-size: 12pt; font-family: Arial;">Tax changes for 2009:<o:p></o:p></span></p> <p class="MsoListParagraphCxSpFirst" style="text-indent: -0.25in; line-height: normal;"><!--[if !supportLists]--><span style="font-size: 12pt; font-family: Symbol;"><span style="">·<span style="font: 7pt &quot;Times New Roman&quot;;"> </span></span></span><!--[endif]--><span style="font-size: 12pt; font-family: Arial;">If an individual is 70 ½ years or older, he can for go payouts from plans and IRAs and avoid penalties.<o:p></o:p></span></p> <p class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in; line-height: normal;"><!--[if !supportLists]--><span style="font-size: 12pt; font-family: Symbol;"><span style="">·<span style="font: 7pt &quot;Times New Roman&quot;;"> </span></span></span><!--[endif]--><span style="font-size: 12pt; font-family: Arial;">401K contributions have increased by $ 1000 to a total of $ 16,500. Individuals born before 1960 can put in an additional $ 5,500 for a total of $ 22,000.<o:p></o:p></span></p> <p class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in; line-height: normal;"><!--[if !supportLists]--><span style="font-size: 12pt; font-family: Symbol;"><span style="">·<span style="font: 7pt &quot;Times New Roman&quot;;"> </span></span></span><!--[endif]--><span style="font-size: 12pt; font-family: Arial;">The yearly pay in limits for Roth IRAs and IRAs remain the same, $ 5000 with an additional $ 1,000 for anyone who was born in 1959 or before.<o:p></o:p></span></p> <p class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in; line-height: normal;"><!--[if !supportLists]--><span style="font-size: 12pt; font-family: Symbol;"><span style="">·<span style="font: 7pt &quot;Times New Roman&quot;;"> </span></span></span><!--[endif]--><span style="font-size: 12pt; font-family: Arial;">Personal casualty losses taken on Schedule A are subject to an increases minimum floor of $ 500, up from $ 100 from 2008 and prior years<o:p></o:p></span></p> <p class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in; line-height: normal;"><!--[if !supportLists]--><span style="font-size: 12pt; font-family: Symbol;"><span style="">·<span style="font: 7pt &quot;Times New Roman&quot;;"> </span></span></span><!--[endif]--><span style="font-size: 12pt; font-family: Arial;">Income tax brackets for 2009 are significantly broader, principally due to higher inflation.<span style=""> </span>To all of our benefit, there have not been any changes in tax rates within each bracket.<o:p></o:p></span></p> <p class="MsoListParagraphCxSpLast" style="text-indent: -0.25in; line-height: normal;"><!--[if !supportLists]--><span style="font-size: 12pt; font-family: Symbol;"><span style="">·<span style="font: 7pt &quot;Times New Roman&quot;;"> </span></span></span><!--[endif]--><span style="font-size: 12pt; font-family: Arial;">The annual gift tax exclusion has increased $ 1000 to $ 13000.<span style=""> </span>This means that a husband and wife may gift a combined $ 26000 before a Gift Tax Return has to be prepared.<o:p></o:p></span></p> <!--EndFragment--> <div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/947906078428337433-6313889861052201791?l=ainsworth-accounting.blogspot.com' alt='' /></div>Ainsworth Accountinghttp://www.blogger.com/profile/14327083692098180433noreply@blogger.com0