My merry tax Christmas!
Boxing Day, and tax deduction, thoughts

In today's financial and tax news ...

Today's New York Times has several interesting tax and financial articles.

At Tiny Rates, Saving Money Costs Investors tells us that "Millions of Americans are paying a high price for a safe place to put their money: extremely low interest rates on savings accounts and certificates of deposit."

The very tiny silver lining to the minuscule savings rates is that we won't have much interest income to report on Schedule B when we file our 2009 returns.

Recession? Teenagers Get It, and Are Cutting Back says that "After a year of observing their parents pinch pennies and fret about the economy, the nation's teenagers may be coming to grips with reality. "

And I thought it was eye-opening when I was a kid and my mother suggested my brother and I trim our Christmas wish list because, according to Mom, Santa sent her and Dad a bill for our toys.

Finally, tying in nicely with the ol' blog's look at the Senate's fumbling of the estate tax continuation and our post on year-end retirement moves, the Times has a story on Thinking Hard About Retirement and Death.

"With 2010 a few days away, there are several tax matters that wealthy investors need to consider next year," writes Paul Sullivan. "The two at the top of the list are whether they should convert their taxable retirement account to a tax-free Roth individual retirement account and how to deal with the uncertainty over the estate tax."

Want some more year-end money and tax moves to fill out your Saturday reading? Check out our entire 2009 financial wrap-up posts:

And don't forget our 12 Tax Tips of Christmas.

Related posts:

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