Planning Your Estate? Don’t Overlook Income Taxes
The current estate tax exemption amount ($13.61 million in 2024) has led many people to feel they no longer need to be concerned […]
Certain Charitable Donations Allow You to Avoid Taxable IRA Withdrawals
If you’re a philanthropic individual who is also obligated to take required minimum distributions (RMDs) from a traditional IRA, you may want to consider a tax-saving strategy. […]
What Might Be Ahead as Many Tax Provisions are Scheduled to Expire?
Buckle up, America: Major tax changes are on the horizon. The reason has to do with tax law and the upcoming elections.
Social Security Tax Update: How High Can it Go?
Employees, self-employed individuals and employers all pay Social Security tax, and the amounts can get bigger every year. And yet, many people don’t fully understand the Social […]
The Tax Consequences of Selling Mutual Funds
Do you invest in mutual funds or are you interested in putting some money into them? If so, you’re part of a large group. According to the […]
House Rich But Cash Poor? Consider a Reverse Mortgage Strategy
Are you an older taxpayer who owns a house that has appreciated greatly? At the same time, you may need income. Thankfully, there […]
You May Be Entitled to Tax Breaks if Caring for an Elderly Relative
There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person’s life and allowing the person […]
A Three-Step Strategy to Save Tax When Selling Appreciated Vacant Land
Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have […]
When Do Valuable Gifts to Charity Require an Appraisal?
If you donate valuable items to charity and you want to deduct them on your tax return, you may be required to get an appraisal. The IRS […]
Pay Attention to the Tax Rules if you Turn a Hobby Into a Business
Many people dream of turning a hobby into a regular business. Perhaps you enjoy boating and would like to open a charter fishing business. Or maybe you’d […]
