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Taxes & You – a Winning Combination

Numbers to know and other important tidbits

Katz, Abosch, Windesheim, Gershman & Freedman, P.A. (KAWG&F)

 PERSONAL

• The Young – 14 vs. 18 vs. 19/24

 • The Not So Young- 62, 65+

   • 59 ½

   • 70 ½

 • 401

 • 125

 • AGI

 • TI: Projected vs. Actual

 • Tax Rate: Actual vs. Effective

 • AMT

 • Interest Rate Earned vs. Paid

 • Charity: Under $250/over $250

 • Pocket Change + (Economic Stimulus $)

   • Visit Benjamin Bankes at www.feedthepig.com

• Net Worth

 • Estate Value

   • $12,000

   • $2,000,000/$1,000,000

 • Asset Ownership vs. Wills?

 • Comparison

            • Last Year vs. This Year

 BUSINESS

• Type of Entity

 • Depreciation

   • SEC. 179

   • 5/7/15/27.5/39

   • 2008 50% Bonus

 • Taxable Income/Loss

 • Tax Rate

 • Owner’s Basis

 • Retirement Plans

 • Fringe Benefits

 • Comparison: Last Year vs. This Year

 For more information on KAWG&F, contact us at 1.800.989.6432 or info@kawgf.com.

Jane M. Brewer, CPA, MST,  is a shareholder with the regional certified public accounting and consulting firm of KAWG& F, P.A., and Co-Chair of the firm’s Tax Department in Timonium, MD. For more information, contact Jane directly at 410-828-CPAS. The information contained in this article is based on generalized tax situations. Please consult with your accountant, attorney or business advisor to determine how these situations affect your individual tax situation.