| Correction: H&R Block-Tax Season and Obama says to keep standing up to Congress on taxes |
| News - Financial News |
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In a story Dec. 8 about competition for tax preparation customers in the upcoming season, The Associated Press reported erroneously that TurboTax isn't charging a fee for deducting tax return preparation costs from federal refunds. The company charges $29.95 for customers who choose to delay their preparation fees, for both those who use direct deposit and those who use the company's refund card.Quotes delayed, except where indicated otherwise. Delay times are 15 mins for NASDAQ, NYSE and Amex. See also delay times for other exchanges. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. [Read the full article] With stocks volatile and bond yields ultralow, many investors have ventured beyond these traditional portfolio ingredients and into asset classes such as commodities, master limited partnerships, and direct--and indirect--investments in precious metals. Such investments may offer a potential diversification benefit and--in the case of MLPs--higher income than plain-vanilla high-quality stocks and bonds afford. But they might also trigger unwelcome--or at the very least unfamiliar--tax consequences that can turn into more work than you bargained for, especially if an investment consumes only a tiny slice of your overall portfolio.Here's a rundown of some of the newly popular asset classes that can trigger unexpected tax consequences, as well as how you can obtain the same or similar exposure without the potential tax headache. [Read the full article] 2011 is almost over and that means tax time is fast approaching. If you're like most, you probably said that you would do a better job at keeping track of receipts and making financial decisions with your tax liability in mind. If you once again fell short of that goal in 2011, don't worry. The year isn't over yet and you have plenty of time to make some tax-smart decisions before ringing in 2012.Give to CharityGiving to charity allows you to deduct some or all of your donation equal to your tax rate. If your tax rate is 28%, 28 cents of every dollar you donate will be counted towards your total deduction.If you have stock that you have owned for more than one year, donating a portion of that allows for an additional tax advantage. If you purchased $2,000 worth of stock that is now worth $4,000, you can donate your original investment and not only receive a tax deduction of $2,000 but you also don't have to pay capital gains taxes on the money you made. [Read the full article] 
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