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New Tax Benefits for Families
Married people will receive increased tax benefits in 2006. The standard deduction for most joint filers was increased to $10,300 (twice that of single filers).
Also, the child tax credit was increased up to $1000 per qualifying child and the child and dependent care credit was increased as well.
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New Tax Rate on Dividends
The maximum tax rate for qualified dividends is 15%.
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Tax Benefit for Self Employed
The self-employed health insurance deduction has increased again. You now may be able to deduct up to 100% of your health insurance expenses.
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Don't Be Late with Your Financial Planning
Everyone is very busy with families and working hard but taking the time to be prepared is extremely important. There may be savings as well as opportunities that are missed without proper planning. The way you set up your financial house should also include provisions if something happens to you so that you do not leave a mess for your loved ones.
Give Steve a call to set up an appointment to start planning your family's financial future.
Click here to go to the Financial Planning page. |
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