Mediaboss Marketing

6 March 2012 1:25 pm

Technical Connection sets out a game plan for tax-saving opportunities as the end of the tax year looms.

The run-up to the end of the tax year is a good time to consider tax planning to maximise the use of an individuals allowances, reliefs and exemptions for the current tax year (many of which will be lost if not used before the year end) and to put in place planning strategies that will minimise tax paid in 2012/13.

In this article all references to married couples include registered civil partners. (article continues below)

The following are what we believe are important to take account of in determining fundamental income tax planning strategies:

Keeping the above key factors firmly in mind, the following tax planning opportunities exist for most people regardless of their tax position.

Maximising the use of a couples allowances, exemptions and lower tax rates

For married couples, important income-tax-saving possibilities exist. Most of these need a full tax year to operate to give maximum effect so these suggestions may serve more of a remin-der for planning for the com-ing tax year than as a means of saving tax this tax year.

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Special report: End of tax year planning

SAN DIEGO--(BUSINESS WIRE)--

TurboTax, the nations leading tax software, today announced a new app now available for Android tablets. Designed and optimized specifically for the Android platform, the app rounds out a robust suite of TurboTax mobile offerings. TurboTax is the only tax preparation software to offer customized, native apps, not just a browser experience, for the growing number of consumers who choose to prepare their taxes on a mobile or tablet device.

TurboTax for Android is among the first Android tablet apps from Intuit Inc. (Nasdaq: INTU), and is the first and only tax prep app designed specifically for Android tablets that enable taxpayers with simple and complex returns to prepare and e-file both their federal and state taxes completely from their tablet. For Android phone customers, SnapTax, a mobile app designed for a simple return (1040EZ) is also available.

The new TurboTax app gives users the freedom to work on their taxes anytime, anywhere, and without always being connected to the Internet. The TurboTax for Android app takes advantage of the tablet environment with a unique look and feel, easy navigation and automatically presents customized keyboards, on devices that support it, to make entering tax data easier and more intuitive.

Tax returns can be password protected for an extra layer of security. Customers can e-file their return directly from their tablet and get a refund in as little as seven days with direct deposit and can easily and securely email a copy of their return to their computer.

Once again, TurboTax apps combine the unparalleled ease of TurboTax with the convenience and portability of mobile devices so that taxpayers feel confident their taxes are done right.This year, TurboTax is the only software to offer everyone free one-on-one live tax advice, via phone or chat from a highly experienced tax professional.

Pricing and Availability

Customers can download the app for free from the Android Market and pay when theyre done. Customers start in TurboTax Deluxe, for $29.99, and based on their tax situation, they can choose TurboTax Premier or TurboTax Home & Business for an additional cost. State tax preparation is additional. All pricing is subject to change and includes e-file at no additional cost.

For more information and to see a video, visit the TurboTax blog. Taxpayers can follow TurboTax on Twitter or become a fan on Facebook.

About Intuit

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TurboTax First to Deliver Android Tax Prep App to Mobile Tablet Customers

SYDNEY: Westpac Banking Corp, Australia's third-largest lender, said yesterday it will send 126 roles offshore, as job cuts and offshoring ramps up with the nation's lenders slashing costs to protect profits amid slower loan growth.

Westpac's move to offshore roles comes on top of its announcement last month that 560 jobs would be cut. Smaller rival Australia and New Zealand Banking Group has announced that it would cut approximately 1,000 jobs in 2012.

Analysts predict that the Australia banking sector could see as many as 10,000 jobs lost over the new few years, or over seven per cent of the Australian financial sector workforce, as banks rein in costs.

Brian Johnson, a CLSA banking analyst, said that just as Westpac has done, many of the jobs that are cut will actually be moved offshore to reduce costs.

"Some of these workers have been in these jobs for years," said Leon Carter, secretary Finance Sector Union said in a statement.

"They have the skills to do the work, they've been loyal employees, and the only reason they are losing their jobs is because our most profitable bank thinks it can now get the job done more cheaply offshore," he added Australia's top banks, including National Australia Bank , Commonwealth Bank of Australia and ANZ, are among the country's largest employers with close to 40,000 employees each on their rolls.

While job cuts in the global banking industry are common in turbulent market conditions, Australian banks are coming off more than a decade of almost uninterrupted growth that saw them adding staff, growing assets and boosting profits several-fold. Reuters

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Westpac to move more jobs offshore

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NEW YORK (CNNMoney) -- Investors took a big step back Tuesday, but stocks have had a pretty strong year so far, so the retreat isn't ringing any alarm bells.

"You're still seeing echoes of the risk-on-risk-off trade," Jonathan Lewis, chief investment officer at Samson Capital Advisors. "But I would offer that all investors are doing is restructuring and rebalancing portfolios."

Since the start of the year, stocks have slowly and steadily made their way toward their highest levels since 2008, helped along by the U.S. economy's steady improvement.

While March has not been a good month so far, the Dow is still up 4.4% for the year. The S&P 500 has gained nearly 7% and the Nasdaq is up 11.7% year to date.

Stocks were pressured Tuesday by weaker economic data out of Europe and rising yields on euro-area government bonds, said Lewis.

The Dow Jones industrial average (INDU) fell 207 points, or 1.6%, to end at 12,759. That marks the worst day for the index since Dec. 8, when it fell 1.63%. Today also marks the first time the Dow has suffered a triple-digit loss in 45 days.

Financial stocks were among the hardest hit, with Bank of America (BAC, Fortune 500) and JPMorgan Chase (JPM, Fortune 500) both down about 3%. The only Dow component showing a modest gain was Intel (INTC, Fortune 500).

The S&P 500 (SPX) fell 21 points, or 1.5%, to 1,343. The Nasdaq (COMP) sank 40 points, or 1.4%, to 2,910. Both indexes suffered the worst one-day performance so far this year.

Meanwhile, investors are wary of political tension between Iran and Israel, which has driven oil and gas prices sharply higher, said Mark Martiak, senior wealth strategist at Premier Financial Advisors.

Originally posted here:
Stocks: Worst day of 2012

By msnbc.com news services

U.S. stocks are set to fall Tuesday on renewed concerns that Greece and private bondholders would not meet a Thursday deadline to complete a debt swap, potentially opening the way for a messy default.

Greek creditors have until Thursday night to accept a bond swap in which they would lose almost three-quarters of the value of their bonds. A deal is needed for a 130 billion euros bailout that would put the country on more stable footing.

Concerns over the parlous state of Greece's finances come a day after China cut its growth forecast and data showed the European Union is unlikely to avoid a recession.

"With the fresh uncertainties coming into play about Greece and after effects of the Chinese slowdown, investors are taking defensive posture," said Andre Bakhos, director of market analytics at Lek Securities in New York.

Banks and materials shares, sensitive to flare-ups in Europe's debt crisis, fell in early trading, including Bank of America and aluminum producer Alcoa.

European shares hit a 1-week low. The FTSEurofirst 300 index of top European shares was down 1.4 percent. Hong Kong shares suffered their biggest slump in nearly three months as the Hang Seng index lost 2.2 percent.

Yahoo Inc's new chief executive was preparing a significant restructuring of the Internet media company, including thousands of layoffs, according to a technology blog.

El Paso Corp delayed a shareholder vote on the pipeline company's roughly $23 billion acquisition by rival Kinder Morgan Inc to allow investors to consider a judge's ruling that criticized some of the deal's participants.

General Motors Co will pay $423 million for a 7 percent stake in French automaker Peugeot SA as part of an alliance designed to save the companies at least $2 billion.

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Stocks set to fall on Greece, economy fears