Mon12222014

Business & Real Estate

IRS reports 2015 tax inflation adjustments

The IRS recently reported 2015 tax year inflation adjustments for more than 40 tax provisions of interest to most taxpayers.

• The tax rate of 39.6 percent affects singles whose income exceeds $413,200 ($464,850 for married taxpayers filing jointly), up from $406,750 and $457,600, respectively, in 2014. The other marginal rates – 10, 15, 25, 28, 33 and 35 percent – and the related income-tax thresholds are described in the revenue procedure.

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IRS Brief

State seeks to return $20 million in undelivered taxrefunds

The California Franchise Tax Board is holding more than $20 million in returned income tax refunds.

This year, the U.S. Postal Service returned nearly 47,500 refunds ranging from $1 to $50,000. Taxpayers who moved after they filed their returns and failed to update their addresses are the main reason refunds are returned.

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Transactions

Los Altos

101 Second Street No. 5, Tanczos-Szabo Trust to Chen Trust for $705,000

4388 El Camino Real No. 178, L. Sheflin to MacDonald Trust for $1,175,000

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How to diversify your company pension plan

If your company pension plan supports a lump-sum distribution when you retire, you will have to decide whether to roll over the pension into an IRA or take it as an annuity (i.e., guaranteed income for life).

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Ignoring the stock-market antics

As an investor in the stock market, the biggest surprise to grapple with during the holiday season is a hidden pattern that could put us in for an early correction in 2015.

On the positive side, we can look to continue the rally off the October lows and into the first quarter of 2015 before a correction presents itself. However, long-term investors looking for stocks to buy know that the key to successful investing lies in ignoring day-to-day market moves and focusing on longer periods. As we look forward, it’s the ideal time to explore the best stocks to buy for the long haul.

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Housing market success hinges on inventory

The California Association of Realtors recently reported that the U.S. economy is doing well after recovering the 8.8 million jobs the country lost during the downturn.

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Business Brief


courtesy of Cobalt Power Systems Inc.
The Cathedral of Faith campus in San Jose, above, recently selected Cobalt Power Systems Inc. to design and install its new solar photovoltaic system.

Local firm to install cathedral’s solar system

The Mountain View-based Cobalt Power Systems Inc. recently reported that it has been selected to design and install a 658-kilowatt solar photovoltaic system at the Cathedral of Faith in San Jose.

“We are very pleased to be selected for this significant installation on the Cathedral of Faith campus,” said Daniel Hill, Cobalt’s director of sales and marketing. “We expect the project to be complete and producing power for the campus by March.”

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