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Important information for Massachusetts residents who
had taxpayers with capital gain transactions reported for the period between April
30, 2002 and December 31, 2002 - Governor Mitt Romney signed legislation that prevents
thousands of Massachusetts taxpayers from having to pay retroactive taxes on financial
transactions that occurred more than three years ago. Under the new law, no additional
taxes are due and affected taxpayers may disregard any retroactive bills they received.
Giving Tax Friendly Gifts - Consider gifts of appreciated investments and dividend
paying stocks to children and other family members in low tax brackets.
The Telecommuting Tax Adventure - So you work
at home, and communicate with your employer mainly by telephone, e-mail, fax, electronic
data transfer, express mail services, etc., you should know about the strict rules
that govern whether you can deduct your home office expenses.
Independent Contractor or Employee - The rules
are intensely factual, and the stakes are very high. As I'm sure you know, if a worker
is an employee the company must withhold federal income and payroll taxes, pay the
employer's share of FICA taxes on the wages plus FUTA tax, and often provide the worker
with fringe benefits it makes available to other employees.
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