Honolulu Hawaii Estate Planning, Probate and Living Trusts Attorneys Sterling & Tucker

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Tax Tips May 2006, Volume 20

Queen’s Social Workers get New Medicaid Update from Sterling & Tucker

Sterling & Tucker attorney, Wendy Miki, recently presented a newly-created mini-seminar focusing on the changes to the Medicaid law to the social work department at Queen’s Medical Center. The “Medicaid Lunch and Learn” is designed to educate those who help families needing assistance to understand the Medicaid law changes under the Deficit Reduction Act – and why earlier planning is now even more important.

The DRA was signed into law in February, and continues to be surrounded by controversy due to the differences in the language in the House and Senate versions. However, the essential changes remain the same. The group of 30 Queen’s social workers asked great questions, and were surprised by the changes, and about how families will be affected. Sterling & Tucker was very pleased to help this group understand how they can better help the families they serve.

Do you have an organization which would like to hear about the Medicaid law changes? If so, we can schedule a Lunch & Learn for you, and we’ll even bring you lunch. Please phone our Director of Marketing, Beth-Ann Kozlovich at 531-5391 ext. 327 to arrange a date and time.

Was Your Tax Refund Too High or Low?

Now that you’ve filed your 2005 tax return, you may be asking how you can adjust your refund for next year. Adjusting the amount of your refund, or ensuring you have no balance due, can be accomplished by adjusting your withholding from your paycheck. You can file a revised Form W-4 with your employer to either increase or decrease the number of exemptions you claim. Increasing your exemptions results in less tax being withheld from your paycheck each pay period. Decreasing your exemptions results in the opposite.

If you are self-employed, a mid-year review with your tax preparer may be in order. The amount of estimated taxes you are required to pay may need adjusting to reflect an increase in your income or unexpected expenses. Taking the time to make those adjustments now will prevent unwanted surprises when it comes time to file your 2006 tax return.

By Laurie Young-Kagamida

Reprinted from
Practitioners Publishing Company

 

 

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Estate Planning Attorneys for Honolulu, HI
HONOLULU
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4th Floor
Honolulu, HI 96813
Phone: (808) 531-5391
Fax: (808) 538-3949

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