RIA Projections Give You a Jump on Tax Season

Some people will probably say it’s too early to be thinking about the 2006 tax season. After all, the Internal Revenue Service (IRS) isn’t even required to release their tax figures for 2006 until December. Fortunately, for those professionals whose job it is to think about tax season, the analysts at RIA, part of the Thomson Corporation, have used the recently released Consumer Price Index (CPI) for August and the preceding 11 months to calculate next year’s tax brackets, standard deductions, personal exemptions and other important tax breaks, giving you a jump on tax season.

“Knowing next year’s tax figures now makes it possible to maximize tax breaks this years and next year by giving individuals and businesses more time to evaluate their tax situations and to implement strategies to achieve the highest tax savings,” Bill Massey, a senior tax analyst at RIA said in a prepared statement.

The full listing is available online at http://ria.thomson.com/home/tax_brackets.pdf.

You may like these other stories...

Truckers and other owners of heavy highway vehicles take note: Your next federal highway use tax return is due on September 2.The September 2 due date, which was pushed back two days because the normal August 31 deadline...
The head of the IRS has a message for taxpayers and tax preparers who have endured long wait times while on the phone with the tax agency: Call your member of Congress.During his keynote speech at the 69th Annual Meeting of...
Regulators struggle with conflicts in credit ratings and auditsThe Public Company Accounting Oversight Board (PCAOB), which was created by the Sarbanes-Oxley Act in 2002, released its third annual report on audits of...

Already a member? log in here.

Upcoming CPE Webinars

Aug 26
This webcast will include discussions of recently issued, commonly-applicable Accounting Standards Updates for non-public, non-governmental entities.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.
Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Sep 11
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.