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January 16, 2010 |
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,
Happy New Year! Please take a moment to read the articles we have posted for this latest issue of our newsletter. If you find these articles helpful, take a moment and let us know. For that matter if you do not find them helpful let us know.
We appreciate your feedback. It will help us craft a newsletter which will be of most benefit to our readers. To provide feed back simply
email us .
Best,
John A. Frisch, CPA/PFS, CFP
President & Founder |
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Failing at Bailing |
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As an accountant I take exception to our Federal Government's one sided theory of accounting. Our politicians are under the mistaken impression that if they spend money to stimulate the economy that there is only one side to this transaction. That the money spent doesn't come from anywhere.
The attached Washington Times article by Brian Riedl explains this concept well.
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2010 Mileage Rates Released |
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The 2010 standard mileage rates were released in Rev. Proc. 2009-54.
- 50 cents per mile for business miles driven.
- 16.5 cents per mile driven for medical and moving purposes.
- 14 cents per mile driven for charitable services.
Revenue Procedure 2009-54 is available on NATP's website |
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2010 Key Numbers |
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Important key tax numbers for 2010.
An important guide for the 2010 tax year. |
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Keep Your Eye on State's Estate & Inheritance Tax |
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The Federal Death Tax Might Be Taking a Holiday, But Keep an Eye on Your State's Estate and Inheritance Tax Policy.
With the 24/7 rush to get health care reform legislation through the U.S. Senate in the waning days of 2009, Congress let the federal estate tax die for 2010 as planned by the Bush Administration back in 2001.That's not expected to stay the case for long - many experts anticipate that Congress will re-apply exemption levels with retroactive legislation sometime this year to help tame rising deficits.
But, individuals and families should keep their eye on another big estate tax issue - a potentially huge hit from their home state.
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The Balancing Act: Retirement vs. College Funding |
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| Things to Consider |
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Even as the economy begins its slow crawl back, college costs are continuing to rise. That means parents are continuing to fight a tough battle between funding college and funding their own retirements.
In October, the College Board reported that the average published price of tuition and fees for in-state students at four-year U.S. public colleges was $7,020 for the 2009-10 school year, up $429 or 6.5 percent higher than a year ago.
After adjusting for inflation, the average net price paid for tuition and fees by public four-year college students overall is lower in 2009-10 than it was five years ago - but higher than it was last year. Private four-year colleges saw a smaller increase of 4.4 percent or $1,096, but for a much higher average annual tuition of $26,273 for the school year.
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| About Us: Located in Woodbridge, VA, Alliant Wealth Advisors (formerly Millennium Capital Management Corp) was founded to help a select group of families achieve all that is important to them financially. To achieve our mission we use a consultative wealth management process, which includes both investment consulting and advanced planning. Our approach assumes that every client is unique; every client has varying needs and objectives; and no two clients share the same risk tolerances, time horizons and dreams. In addition to providing our expertise we work with clients' existing advisors and, where there is a gap to fill, we use our own outside experts in the fields of tax, legal and high-end Insurance. |
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