It's that time of year again - tax time. Preparing your taxes doesn't have to be a headache, and there are ways to keep more of your money.
It's a busy time of year for registered financial consultant Mark Lloyd of The Lloyd Group. At his Suwanee office, he offers a variety of tax education classes and says as of late, they've been full.
Lloyd says there was a waiting list for his December classes, and he's repeating the classes in January and February because of the long waiting list.
He says these are the things you want to remember this tax season. First, because of last minute legislation, the season will be condensed this year.
"What we understand from the IRS is that everything has been delayed for this tax season. It's now January 30th. That's the first time that we can file taxes and start having them look at our tax returns," said Lloyd.
Don't panic if you haven't gotten your W-2's from your employer, or your 1099's. They're not required to send them until the end of January. Use that extra time to get all of your paperwork together. Lloyd says take advantage of a new tax law that allows you to convert a traditional IRA into a Roth IRA.
"It used to be more restrictive on when you could convert to a Roth but they're trying to encourage that. Why? Because the IRS receives the taxes on that conversion now, but what the depositer gets is tax free income later," said Lloyd.
He says take advantage of write-offs and try to lower your adjusted gross income. You have until April 15th of this year to do it. You can do that by making deposits to your IRA and increasing contributions to your retirement plan. Taxes are inevitable, but wasting tax opportunities doesn't have to be.
"Try to save as much as you can, put more money in your pocket, save for the future," Lloyd said.
Wednesday, May 22 2013 10:37 AM EDT2013-05-22 14:37:15 GMT
You've seen us handing out Good Day Gas Money for weeks now, and Gurvir and Karen have met plenty of those lucky winners in person.
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Wednesday, May 22 2013 10:30 AM EDT2013-05-22 14:30:53 GMT
Does your summer road trip include mouth-watering stops at mom-and-pop eateries? Ours does, and it'll be even better with the help of a new Southern Living book!
Off the Eaten Path: Second Helpings is dedicated to finding the best meals in the south-- and it features some great restaurants right here in north Georgia. Good Day's Paul Milliken checked out two of those gems-- The Hil in Serenbe, and Weaver D's in Athens! As usual, he didn't leave hungry.
Wednesday, May 22 2013 10:17 AM EDT2013-05-22 14:17:14 GMT
The new season of Masterchef features a local contestant from the metro area! Jessie Lysiak is from Social Circle, and she's about to make her big debut on the hit FOX show.
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Wednesday, May 22 2013 9:56 AM EDT2013-05-22 13:56:24 GMT
Americans are known for their pearly whites, but we pay for it—and it isn't cheap.
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This week's Good Day Casting Call is loaded with opportunities! Whether you're a jock, a hipster, or a funky-looking worker (WHAT?), there's a job on the big screen for you!
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Our own Katie Beasley is about to get hitched! She's finally finished planning her big day, and she did lots of it herself. She let us in on her DIY secrets on Good Day!
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Wednesday, May 22 2013 9:29 AM EDT2013-05-22 13:29:22 GMT
Summer is almost here, and that means lots of people will be hitting the roads on vacation. But before you go, don't forget to give your car a little TLC to get it ready for the highway.
Summer is almost here, and that means lots of people will be hitting the roads on vacation. But before you go, don't forget to give your car a little TLC to get it ready for the highway.
Wednesday, May 22 2013 8:51 AM EDT2013-05-22 12:51:47 GMT
Chances are your child or someone in your child's class has at least one food allergy.
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