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You
might qualify for new tax credits if you make
energy-saving improvements to your home. Credits of up
to $500 are available for items such as insulation, new
windows, water heaters, or furnaces. |
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The
itemized deduction for state and local sales taxes
expired at the end of 2005. If you pay state income tax,
you can still claim a federal tax deduction for that. |
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You’ll
receive a potentially more valuable tax credit instead
of the previous $2,000 tax deduction if you purchase a
hybrid vehicle in 2006. The credit amount depends on the
particular model you choose. |
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You
can contribute more to your retirement savings this
year. The contribution limit for 401(k) plans increased
to $15,000, with a $5,000 catch-up if you’re age 50 or
older. The limit for SIMPLE plans remains at $10,000,
but the catch-up contribution increased to $2,500. |
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There
is no change in the basic IRA contribution (still
$4,000), but the catch–up amount increased from $500 to
$1,000. |
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Your
standard deduction for 2006 increased to $10,300 for
joint filers, $5,150 for singles, and $7,550 for heads
of household. |
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The
personal exemption for 2006 will be $3,300, a $100
increase from last year. |
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The
exemption amount for estate taxes increased from $1.5
million to $2 million on January 1, 2006, and the top
estate tax rate decreased from 47% to 46%. |
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All income tax brackets increased and widened for 2006. The basic tax rates did not change, though. |
As you do your tax planning in 2006, contact us for information on any pending or new tax legislation that could affect your tax situation.
2. Focus on Fraud: Corporate and Identity Theft - Part 12, Notes
Identity Crimes Escalating – Police Lack Resource
Again, local law enforcements been striped of identity theft crime-fighting resources
With Department of Homeland Security, federal government reallocated resources from local agencies to FBI to fight terror, so local police forced to pare budgets, freeze hiring, scale back overtime, etc.
Tracking an identity crime chain is costly when using traditional methods of investigation; advanced technologies available, but local police are budget-bound
Legislation could mitigate and help de-escalate identity crimes, but it’s not happening yet
Part 13 – Notes . . . next week Identity Crime Escalating – Legislation is Lacking
In MS Excel, you can put a picture into the chart area or plot area. The method is to select a graphic file on your system and the picture becomes the background of the chart area or plot area.
Be sure to use a picture that doesn't make reading the chart difficult.
Here's how to put a picture in the chart area:
- Select the chart area by right-clicking on it.
- From the pop-up menu, select to display the Format dialog box.
- If necessary, click the pattern tab to bring it to the top.
- Click the Fill Effects button.
The Fill Effects dialog box appears.
- On the Picture tab, click the Select Picture button.
The Select Picture dialog box appears.
- Browse through your computer to a desired graphic and click Insert.
- Click OK twice to close the other dialog boxes.