SEC LAUNCHES INVESTOR.GOV

Agency's First-Ever Web Site Devoted Exclusively to Investor Education

Washington, D.C., Oct. 22, 2009 – The Securities and Exchange Commission today launched its first-ever Web site devoted exclusively to investor education, providing investors with in-depth information and “top tips” on how to invest wisely, plan for the future, and avoid being scammed.

 

By visiting www.investor.gov < http://www.investor.gov/ > , investors can access information in a user-friendly format that is specifically tailored to their needs.   The site includes sections specifically for those just getting started investing, for those saving for a child's education, and for those planning for retirement.  It also has a detailed “Seniors Care Package” section for senior citizens and caretakers.  

 

In a welcome video on the new site, SEC Chairman Mary Schapiro says, “Investing information is available from thousands of online resources – some good, some not so good.  Through Investor.gov, we are adding our own online voice to provide investors with unbiased and factual investing information.”

 

Chairman Schapiro adds,

See the rest of the story SEC Investors Website

Although the income cap on converting an IRA to a Roth ends after 2009

High incomes still can't Roth IRA payins. Contributions are barred for couples with AGI of $176,000 or more and singles with AGI of $120,000 and up.

But there's a loophole: See the story at Traders Accounting Tax Loopholes for IRA to Roth

Random Audits of S corporations have borne fruit

Uncovering several areas of broad noncompliance that are targeted for future scrutiny: travel costs, meals, and entertainment car and truck expenses, expensing of tools and supplies and taking profits as dividends instead of as salary to avoid paying payroll taxes.

See more tax tips and wealth strategies at Traders Accounting

Meet Traders Accounting in St. Louis

Traders Accounting will be presenting a seminar on October 23 and 24, 2009 in St Louis at the Options Monster Expo. The live seminar presented by Traders Accounting will cover the topic:


Five Reasons 94% of Traders Fail, A Guide to Managing Your Cash Flow.

Traders of all skill levels will benefit from this informative event. Validate your trading approach and learn new techniques as top market pros teach you to become a more successful trader.

Are you up this year? What is your plan for 2010?


Choose workshops that narrow in on key trends, strategies, and asset classes


What are renowned market pros doing to beat the market? Ask them yourself


Click here for more information on Options Trader.

IRS Features Recovery Tax Credits on YouTube, iTunes

The Internal Revenue Service today announced the availability of video and audio products to help taxpayers take full advantage of the 2009 tax provisions in the American Recovery and Reinvestment Act.
The IRS has launched a YouTube video site and an iTunes podcast site to better serve taxpayers.
People can visit the video site at www.youtube.com/irsvideos to view information about the Recovery, tax tips and how-to videos. These videos will be in English, Spanish, American Sign Language and other languages.
The YouTube focus will be on the provisions of the American Recovery and Reinvestment Act. Videos will highlight the $8,000 first-time homebuyer’s credit for those who purchase a house this year, the sales or excise tax deduction on new car purchases and the expanded credits for education and energy conservation.
The IRS YouTube channel will debut with seven Recovery videos in English and ASL and eight in Spanish. Also, included will be a video on using the IRS Withholding Calculator. Many workers received the Making Work Pay tax credit in April through their tax withholding at work. However, people who have more than one job or working spouses should especially check their withholding to ensure neither too much nor too little is being withheld. People can use the calculator to help determine if they should make adjustments.
People can visit the audio site at iTunes to listen to IRS podcasts about ARRA tax credits. People without an iTunes account can hear those same podcasts, in English and Spanish, on IRS.gov’s Multimedia Center.

Six Facts About the American Opportunity Tax Credit

Many parents and college students will be able to offset the cost of college over the next two years under the new American Opportunity Tax Credit. This tax credit is part of the American Recovery and Reinvestment Act of 2009.
Here are six important facts the IRS wants you to know about the new American Opportunity Tax Credit:
1. This credit, which expands and renames the existing Hope Credit, can be claimed for qualified tuition and related expenses that you pay for higher education in 2009 and 2010. Qualified tuition and related expenses include tuition, related fees, books and other required course Materials.
2. The credit is equal to 100 percent of the first $2,000 spent and 25 percent of the next $2,000 per student each year. Therefore, the full $2,500 credit may be available to a taxpayer who pays $4,000 or more in qualifying expenses for an eligible student.
3. The full credit is generally available to eligible taxpayers who make less than $80,000 or $160,000 for married couples filing a joint return. The credit is gradually reduced, however, for taxpayers with incomes above these levels.
4. Forty percent of the credit is refundable, so even those who owe no tax can get up to $1,000 of the credit for each eligible student as cash back.
5. The credit can be claimed for qualified expenses paid for any of the first four years of post-secondary education.
6. You cannot claim the tuition and fees tax deduction in the same year that you claim the American Opportunity Tax Credit or the Lifetime Learning Credit. You must choose to either take the credit or the deduction, which ever is more beneficial for you.