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Ask Jennifer: Filing taxes

2 April 2010 No Comment

(NECN) – with the deadline to file or revise one’s federal income taxes, Jennifer Lane, a certified financial planner with Compass planning, answers viewer questions on NECN Morning.

If you have a question for a future segment with Jennifer, send an e-mail to jennifer@necn.com.

Adam in BostonEvery year I either owe a lot of taxes or get a refund. how can I make sure my withholding is right so I can get more in my paycheck but not risk a big tax bill?

IRS Withholding Calculator

Jan in BostonI began to file my taxes today and realized that I’ve gone over the contribution limit to my Roth for 2009, if you count what I have contributed so far in 2010. my tax planning software recommends that I “re-characterize” those payments over $5,000, but I’m confused as to why 2010 payments are counted toward my 2009 limit. Is re-characterizing the best way to fix this?

Bill in RoxburyMy accountant says I can do a SEP IRA because I was paid fees as an estate executor last year. Where is the best place to set-up a SEP?

Ask Jennifer: Filing taxes

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